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SERAP sues Buhari over move to borrow N895bn from Nigerians’ dormant accounts

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The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit asking the Federal High Court in Abuja “to restrain and stop President Muhammadu Buhari and the Federal Government from borrowing an estimated N895bn of Nigerians’ money in the form of their unclaimed dividends and balances in dormant accounts, under the guise of the patently unlawful, unconstitutional, and discriminatory legislation known as ‘the Finance Act, 2020.’”

The suit followed a recent move by the Federal Government to take over and borrow unclaimed dividends and dormant account balances owned by Nigerians in any bank in the country. But the same legislation explicitly excludes dormant official bank accounts by all branches of government and their agencies.

In the suit number FHC/ABJ/CS/31/2021 filed last Friday, SERAP is seeking: “an order of perpetual injunction restraining and stopping President Buhari from demanding, taking over, borrowing, and collecting Nigerians’ money in the form of their unclaimed dividends and funds in dormant accounts or transferring and moving the money into a trust fund known as ‘Unclaimed Funds Trust Fund’”.

In the suit, SERAP is arguing that “the Federal Government should not be allowed to borrow Nigerians’ money. Borrowing unclaimed dividends and funds in dormant accounts owned by ordinary Nigerians would negatively affect their right to an adequate standard of living, and access to clean water, quality healthcare and education.”

According to SERAP: “Despite Nigeria’s dwindling oil revenue, the growing level of public debt, and widespread poverty, public officers including the President, Vice President, governors and their deputies, and members of the National Assembly have refused to cut their emoluments, allowances and security votes. At the same time, millions of Nigerians continue to bear the brunt of mismanagement and corruption.”

Joined in the suit as Defendants are: Mr Abubakar Malami SAN, Attorney General of the Federation and Minister of Justice; the Senate President, Ahmad Lawan; the Speaker of House of Representatives, Femi Gbajabiamila; and the Minister of Finance, Budget and National Planning, Ms Zainab Ahmed.

SERAP is also arguing that “For there to be a borrower, there must be a lender. The intention to enter into such borrower-lender relationship must be known to both parties. Any other arrangement that allows a borrower to access funds from a lender without the knowledge and express consent of the lender will amount to stealing.”

According to SERAP: “The Federal Government has repeatedly failed to ensure transparency and accountability in the spending of public wealth and resources such as recovered stolen public funds, and the loans so far obtained, estimated to be $31.98bn, and failed to address the systemic and widespread corruption in ministries, departments and agencies (MDAs).”

The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare and Ms Adelanke Aremo, read in part: “By the combined reading of section 44(1) of the Nigerian Constitution 1999 (as amended) and Article 14 of the African Charter on Human and Peoples’ Rights, the Federal Government has absolutely no right to borrow Nigerians’ money in the form of their unclaimed dividends and funds in dormant accounts without their knowledge and express consent.”

“The move to borrow Nigerians’ money amounts to unlawful expropriation, as it is neither proportionate nor necessary, especially given the unwillingness or inability of the government to stop systemic and widespread corruption in MDAs, cut waste and stop all leakages in public expenditures. The borrowing is also not in the public interest.”

“Respect for the right to property is important to improve the enjoyment of other basic human rights and to lift Nigerians out of poverty. There is a limit on the ability of any government to interfere with private property without legal justification. The right to property is a sacred and fundamental right.”

“Borrowing unclaimed dividends and funds in dormant accounts without due process of law and the knowledge and explicit consent of the owners is arbitrary, and as such, legally and morally unjustifiable.”

“To create a valid trust relationship, there must be explicit agreement between the setlor and the trustee, for the benefits of the trust beneficiary. There must also be sufficient evidence of the setlor’s intention to create a trust. The relationship cannot be arbitrarily created. It can also not be forced or assumed unilaterally, which is exactly what the Federal Government is pushing to do in this case.”

“According to the Nigerian Bureau of Statistics (NBS), four in ten Nigerians or over 82.9 million Nigerians live in poverty.”

“Where agencies of government are allowed to operate at large and at their whims and caprices in the guise of performing their statutory duties, the end result will be anarchy, licentiousness, authoritarianism and brigandage leading to the loss of the much cherished and constitutionally guaranteed freedom and liberty.”

SERAP is also seeking the following reliefs:

A DECLARATION that the provisions of Section 60[3] and Section 77[1] and [2] of the Finance Act allowing the Federal Government under the leadership of President Buhari to borrow Nigerians’ money in the form of unclaimed dividends and funds in dormant accounts and transferring the money into the “Unclaimed Funds Trust Fund” is unlawful, unconstitutional and a breach of Nigerians’ fundamental human rights particularly the right to property.
A DECLARATION that the provisions of Section 60[3] and Section 77[1][2] of the Finance Act, being inconsistent with section 44[1] of the Nigerian Constitution, is therefore null and void to the extent of its inconsistency pursuant to Section 1[3] of the Constitution.
AN ORDER of perpetual injunction restraining the Defendants, or any other organisation, institution or officer[s] acting under their instruction or control, from demanding, collecting or transferring unclaimed dividends and funds in dormant accounts of beneficiaries and account holders into Unclaimed Funds Trust Fund.
AND ANY OTHER ORDER(S) that the Honourable Court may deem fit to make in the circumstance of this suit.

No date has been fixed for the hearing of the suit.

Kolawole Oluwadare

SERAP Deputy Director

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I Heard He Had His Pu.bic Hairs Put On His Face- 50 Cent Trolls Mayweather’s Hair Again

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GhGossip

When it comes to trolling in the Hip Hop world, no one does it better than Hip Hop legend and business mogul 50 Cent as he is on the ‘neck’ of Floyd Mayweather again with his trolls.

50 Cent, born Curtis Jackson and Boxing legend Floyd Mayweather has been in a very long ‘unsettled’ beef for a very long time now with both successful business men throwing shades at each other with the least opportunity.

But 50 Cent is way above Mayweather in trolls as he mostly makes the Boxing champ always feels uncomfortable on social media. Recall he started trolling Mayweather with his hair when the former welterweight Boxing champion made a public appearance with a heavy mustache could of months ago.

50 Cent in a post on social media posted the photo of his former best friend Mayweather with the heavy mustache trolling him that he took some hair from his ‘a$$’ and implanted it around his mouth.

The television guru couple of months ago wanted to settle the long beef with his former best friend in a boxing match after he threw a challenge to Mayweather of which Mayweather accepted the challenge for the boxing match.

But 50 Cent knowing what he was doing later called off the match 48 hours after Mayweather accepted the match saying the head of the ‘The Money Team’ can’t read two paragraphs of his best New Times Selling Book.

Well 50 Cent is back again trolling Mayweather about his hair when camera captured the Boxing champ with fully grown hair on his head during a pre-match brawl with YouTuber Jack Paul last night.

Floyd like you can’t show people my hair. LOL

WTF going on, on champ head… I heard he had his pubic hairs put on his face. Lol #bransoncognac#lecheminduroi

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Patience Ozokwor, Others React As Aki And Paw Reveals Intentions To Resume Acting Together

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GhGossip

In a post sighted on his Instagram page Osita wrote: “@chineduikedieze How far Edu? Just over here soliloquising. I just they see Dm and old clips everywhere. Guess is time to answer the call of nature and drop something. How you see am?”

Chinedu replied and wrote; @ositalheme, this will be interesting ooo
Should we give them a movie or series?

Guys what do you think?
Should we give you a movie or tv series,
What should we call it?

Celebrities and fans could not hold themselves as they trooped under the comment section to react to the news. Below are some reactions

“@patienceozokwo wrote “Whatever you call it we will watch”

@alexxekubo wrote “Yesssssssss we are ready”

@dilly_cious wrote “They may not look funny again because they look like big rich men now with pot bellies… Not the smallish aki and paw paw we know”

@thevc_store wrote “They are no longer funny now they have grown older cos they now act serious roles. The fun was in their mischievousness as children”

@badgirlsimz wrote “it won’t be interesting”

crazeclown wrote: AHHHHH PLEASEEEEEE I BEG UNA 😢 A MOVIE AND SERIES

adaameh wrote : All join 🙌🙌🔥🔥❤️❤️

aphricanace wrote: Yessooo…movie for sure!!!! We want another classic like 2 rats or aki na ukwa 🔥❤️

realchidimmaaneke wrote: We can’t wait to see you both

amazingklef wrote:A very funny series and movies !

officialowengee wrote: Give us a Movie, whatever name you decide will be good

mary_lazarus wrote: Very nice🙌🙌🙌

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DJ Cuppy slams troll who can’t stand her ‘transition to motherhood’ with puppies

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Celebrity disc jockey, Dj Cuppy savagely responds to a follower who subtly attacked her for showing extra care to her puppies.

The billionaire’s daughter had shared photos of her puppies wrapped in cosy towels as she affirms how the transition to motherhood has touched and made her a softer person.
“Motherhood is already making me a better person… I might even do giveaway soon,” Cuppy wrote while sharing photos of her puppies.

DJ Cuppy slams troll who can't stand her 'transition to motherhood' with puppies

In reaction, a follower expressed exhaustion of the renowned DJ’s act as he blatantly stated that he is so done with her behaviours.

“I cannot stand Cuppy anymore,” he wrote.

DJ Cuppy, however, did not let it cool before savagely firing back by telling the fan to ‘sit down’ since she cannot stand her anymore.

See their exchange below …

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