News
No law backing delay of president-elect’s inauguration but case should be decided in few days, says Olisa Agbakoba
Chief Olisa Agbakoba, a senior advocate of Nigeria, has said that there is no constitutional process to delay the inauguration of the president-elect on May 29, 2023.
The Senior Advocate of Nigeria, SAN, made the observation in a statement ON Monday, which he personally signed.
He said- “It is important to state that the inauguration of Mr. Bola Tinubu on 29 May 2023 is bound to happen under our constitutional process. While the election tribunal deals with the petitions there is no constitutional process to delay the inauguration on 29 May.
“We need to obey the rule of constitutionalism.”
Agbakoba, a former president of the Nigerian Bar Association (NBA), had recently wondered why the petitions at the tribunal would not be concluded before the inauguration and blamed the lawyers representing the parties and the judges handling the cases.
He also went ahead to suggest how it could be handled, saying- “But I have a simple solution which is to say why is it that the legal teams of all the petitioners are not active? I don’t understand it; why is it that the Tribunal is not active? I don’t understand it, because the elections took place almost two months ago.
“Kenya takes only 14-day cycle to finish their petition, but we take 240 days; why? If the Kenyans can do it in 14 days what’s wrong with us? We need to be pro-active. You see the problem with the Nigerian judiciary is that they are still steeped in the theory of 100 years ago, when the judge sits and does nothing unless counsels make an application. Now the judges are pro-active.
“So, in Kenya; the Kenyan Judiciary Motto is ‘Sustaining Judiciary Transformation.’ They are proactive. If it were in Kenya, the judges would have said No, No, No, we can see the potential of Mr. Tinubu becoming president when the petition is still pending; let us hear it.
“There are not too many issues to hear; complex as they are the question whether you need to win Abuja is one, the question whether you can be vice presidential candidate and senatorial candidate is another one, the question whether Mr. Tinubu’s qualifications are dated; these can be decided in one day. All that the court does in case management theory which is to allot time, say – Mr. Obi, your lawyers one hour; Tinubu, your lawyers-one hour; this might be 9.O’cloclk in the morning; by 6pm they deliver a decision. Why can’t it be done?”
Myesom Wike, the Minister of the Federal Capital Territory, FCT, has sacked the Acting Executive Chairman of the Federal Capital Territory Internal Revenue Service, FCT-IRS, Mr Michael Ango, of his duties.
The announcement was contained in a statement late Friday by the minister’s Senior Special Assistant on Public Communications and Social Media, Lere Olayinka.
The statement added that the decision takes immediate effect.
Olayinka said the minister directed the most senior official of the FCT-IRS to immediately assume leadership of the agency
“The Minister of the Federal Capital Territory, Nyesom Wike, has sacked the Acting Executive Chairman of the Federal Capital Territory Internal Revenue Service, Mr Michael Ango,” he stated.
He added that “the most senior official of the FCT-IRS has been directed to take over the running of the revenue agency with immediate effect.”
The statement did not provide reasons for the removal.
15 members of the Rivers State House of Assembly, led by Speaker Martin Amaewhule, have left the Peoples Democratic Party, PDP, for the All Progressives Congress, APC.
Amaewhule disclosed the lawmakers’ decision during Friday’s plenary, attributing their defection to what he called a “clear division” within the PDP.
“Distinguished colleagues, very happily, let me announce that your Speaker has decided, and has indeed written to my ward chairman of my decision, to leave the PDP. APC is my new party,” Amaewhule said.
Amaewhule’s Deputy, Dumle Maol, is one of the 16 lawmakers that joined APC as well.
All the lawmakers, who have jumped ship, are core loyalists of the Minister of the Federal Capital Territory, FCT, Chief Nyesom Wike.
The Central Bank of Nigeria,has rolled out a new framework ito expedite handling of fraud accusations and refund victims.
Customers must report suspected fraudulent transactions within 72 hours under this draft guideline, and financial institutions have 16 working days to look into the matter and repay money.
The action comes in the wake of a dramatic increase in banking sector fraud.
According to data from the Financial Institutions Training Center, losses in the first quarter of 2025 increased to ₦3.29 billion, a startling 603 percent increase over the previous year. In the same time frame, reported cases also increased to 12,347.
The November 26, 2025, proposed regulations seek to improve bank accountability, expedite reimbursements, and boost prevention.
Director of the Financial Policy and Regulation Department Rita Sike signed the circular, which describes stricter regulations intended to prevent fraud before it occurs.
The apex bank’s ongoing fight against financial fraud has advanced with the adoption of this guidance. To enhance cooperation between operators, it established the Nigeria Electronic Fraud Forum in 2011.
It directed banks to establish specialized fraud bureaus four years later. By requiring BVN or NIN for account opening, it reinforced Know Your Customer checks in 2023.
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