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Nnamdi Kanu: Again, lawyer charges Nigeria judiciary to uphold rule of law

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An Abuja-based legal practitioner, Onyedikachi Ifedi has again canvassed for upholding of the principle of natural justice and rule of law in the trial of the Biafra nation agitator, Nnamdi Kanu on terrorism charges by the federal government.

The lawyer insisted that the Supreme Court’s judgment of December 15, 2023, being used to prosecute Kanu is a catastrophic failure of judicial duty.

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In a statement on Saturday, the lawyer pleaded with the Nigerian Bar Association, NBA, Senior Advocates of Nigeria, Civil rights groups and the media to point out the grave dangers in the apex court judgment with a view to getting it reversed.

His grouse was that the Supreme Court verdict validated breach of international laws, including African Charters on human and people rights, as well as setting bad precedent for the nation.

The statement read in part “The case of Mazi Nnamdi Kanu has become the ultimate test for Nigeria’s commitment, or lack of, to the Rule of Law and obedience to its Constitution.

“The Supreme Court’s judgment of December 15, 2023, which condoned the Federal Government’s kidnapping of Mazi Kanu from Kenya and allowed his trial to proceed, represents a dangerous departure from precedent and rule of law to the rule of judicial tyranny.

“The Supreme Court judgment is a legal nullity—per incuriam (rendered in ignorance of binding law)—and therefore worthless.

“It sought to reduce the Constitution’s most sacred guarantees to mere suggestions. This is not about Mazi Nnamdi Kanu’s guilt or innocence; it is about whether the Supreme Court is allowed to use their position as the apex court to destroy the foundational law of Nigeria- which is the Constitution, for the sake of one man.

“The government and some legal commentators have falsely framed the issue of Kanu’s kidnapping in Kenya and illegal rendition as a “technicality.”

“This is a profound misrepresentation. The principle of nullity is the law’s strongest tool to punish state impunity and protect every citizen from tyranny.

“What is Nullity? It is a legal declaration that a proceeding is void from the very beginning. It is not a minor procedural slip; it is the consequence of a breach so fundamental that it robs the entire process of its legitimacy.

“Why Does it Apply Here? The government did not simply arrest Nnamdi Kanu illegally within Nigeria as it did in 2015. It orchestrated an international crime, an extraordinary rendition, involving torture, denial of fair hearing, access to lawyers, and a complete bypass of all extradition treaties and Kenyan courts.

“You cannot build a legitimate trial on such an illegitimate foundation. The doctrine of the “fruit of the poisonous tree” comes into play.

“The Supreme Court’s decision to allow the trial to continue ignored decades of its own binding rulings. This is the definition of a per incuriam judgment.

“In Ariori vs. Elemo (1983): The Supreme Court itself held that ‘any breach of the rules of natural justice renders the whole proceeding a nullity.’ The rendition was a gross breach of natural justice before the trial even began.

“Also, in Adigun vs. A.G. Oyo State (1987): The Court ruled that violating fair hearing is a “fundamental vice” that nullifies everything that follows.

“The Constitution of Nigeria (S.36) & The African Charter (Arts. 6 & 7): These documents guarantee the right to fair hearing and due process. These rights are non-derogable—meaning they can never be suspended, not even in times of war. The government violated them. The Court’s role is to enforce them, not overlook them.

“By choosing to treat this foundational violation as a mere “irregularity,” the Supreme Court made a grave error that threatens the legal protections of every single person in Nigeria.

“The recent landmark judgment from the High Court of Kenya (June 24, 2025) is not just a “new fact”; it is a powerful, independent judicial confirmation of the Nigerian Court of Appeal’s 2022 ruling. Both a Nigerian court and a Kenyan court have now found the same facts:

“The Nigerian government has been found guilty of international law violations by a foreign court. For the Nigerian judiciary to now say that a trial founded on these crimes can still be “fair” is a catastrophic failure of justice and makes a mockery of our nation’s standing in the international community.

“If this judgment stands, it sets a terrifying precedent: The State can Kidnap anyone: Any citizen critical of the government could be abducted from any country, without any legal process, and brought to Nigeria to face trial. Your passport and foreign travel will not protect you.

“The government’s argument that its illegal acts can be “cured” by a fair trial or compensated with damages means that fundamental rights have a price tag. The state can violate your most sacred rights and simply pay a fine afterwards. This commercializes justice and destroys its very essence.

“When the highest court in the land fails to draw a bright line against state-sponsored criminality, it signals that the executive branch is above the law. This erodes the very foundation of our democracy.

“The Nigerian Bar Association (NBA), senior advocates, and human rights lawyers must add their voices to condemn this judgment and support the legal steps to have it reviewed and set aside. The integrity of the entire legal system is at stake.

“The media and civil rights groups must rise to educate the public on the grave implications of this case. This is not about sympathy for Mazi Nnamdi Kanu; it is about defending the Constitution that protects us all.

“The International Community must take note of this breach of international law and its ratification by the Nigerian judiciary. Peer review and diplomatic pressure are crucial to upholding global human rights standards.

“The path to justice is clear. The Supreme Court must review and overturn its own decision. The proceedings against Mazi Nnamdi Kanu must be declared a nullity, and he must be released.

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“This is the only outcome that upholds the Constitution, respects international law, and sends an unequivocal message that in Nigeria, the rule of law is supreme—not the whims of the state. “This is our stand. For the sake of every Nigerian, we must defend the law”, the statement said..For More Details,Originally Continue D Reading

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National Pension Commission (PenCom) changes price disclosure rule

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National Pension Commission (PenCom) has directed Pension Fund Administrators (PFAs) to discontinue the publication of daily unit prices for Retirement Savings Account (RSA) and Retiree Funds on their websites, replacing the requirement with a six-month disclosure of returns based on a three-year rolling average.

The directive was contained in a circular issued by the commission.

Under the new guideline, PFAs must stop implementing Section 2.0 (iv) of the Commission’s March 23, 2013 circular, which required them to display daily unit prices for the last seven days.

Instead, they are to publish on their websites the last six months’ rate of return — calculated as a 36-month compounded rolling average in line with the Circular for the Calculation and Reporting of Rate of Returns by Licensed Pension Fund Operators (LPFOs).

According to the commission, the rate of return must be clearly displayed on the homepage of each PFA’s website.

For instance, the six-month disclosure covering April to September 2025 would reflect the 36-month compounded returns ending in each of those months.

This has however raised transparency concerns in the pension industry.

The 2013 circular on Minimum Information to be displayed on PFA Websites formed part of PenCom’s transparency framework for the Contributory Pension Scheme.

The latest addendum modifies that requirement but does not remove PFAs’ obligation to disclose performance information.

Industry watchers say the development may reignite debate over the balance between long-term investment reporting and real-time transparency in Nigeria’s pension industry.

All enquiries on the addendum, the Commission said, should be directed to its Surveillance Department.

An industry analyst who does not want her name mentioned said the move could reduce contributors’ access to real-time performance data.

She said: “Daily unit prices allowed RSA holders to independently track short-term movements and detect fluctuations in fund valuation.

“With only a three-year rolling average now required, contributors will no longer see recent performance in isolation”, she noted.

The analyst added that while pension funds are long-term vehicles, removing daily disclosure raises concerns about information asymmetry.

“PFAs will still compute daily valuations internally. The issue is whether contributors should be denied access to data that already exists,” the analyst said.

However, another pension expert defended the directive, noting that pensions are structured for long-term accumulation and should be assessed over extended periods.

“A 36-month rolling average smooth’s out short-term volatility and provides a more accurate reflection of sustained performance,” the expert said, warning that excessive focus on daily fluctuations could encourage reactionary fund switching.

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Dollar rises in black market on Monday, traders quote new exchange rate

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Dollar edges higher against the naira in black market trading Dollar edges higher against the naira in black market trading

The United States dollar at the parallel market increased in value on Monday, Febuary 23 with traders quote at N1,375/$ as the new selling exchange rate.

The new rate is a slight depreciation for the naira when compared to N1,343 a dollar market closed on Friday, February 20, 2026.

Abdulahhi, a forex dealer, told Legit.ng that the new exchange rate follows renew demand in the market.

“I am currently selling dollars at N1,375/$1 and buying at N1,355/$1. The pound is trading at N1,845 to sell and N1,805 to buy, while the euro is also moving steadily in the market.

“It seems this week the dollar will return to over N1,400. I have been getting a lot of request.”

The fall of the naira comes as BDC operators continue to face difficulties in accessing dollars from commercial banks.

BDCs can get dollar

The apex bank had previously issued a circular allowing licensed BDCs to access foreign exchange through authorised dealers at the prevailing market rate.

Under the directive, each BDC is permitted to purchase up to $150,000 weekly, subject to Know Your Customer (KYC) requirements and due diligence checks, Punch reports.

Leadership reported that despite a policy announcement, some operators disclosed that no transactions have been completed under the new arrangement.

A BDC operator, who requested anonymity, said the directive remains largely unimplemented. According to him, the circular provides that disbursements will be made through settlement accounts, a provision that has raised operational concerns.

He questioned the feasibility of seamless, real-time transfers between domiciliary accounts across different banks, noting that such infrastructure may not yet be fully in place.

The operator added that while commercial banks appear supportive of the policy, many are still developing internal processes to align with the CBN’s directive.

He explained that BDCs are required to submit bid orders through their banks, which would then access the market on their behalf.

Naira in the official market

Meanwhile, in the Nigerian Foreign Exchange Market (NAFEM), the naira closed against the US dollar on Friday, February 20 at N1,346.32/$1 from N1,341.35/$1 a day earlier.

At the GTBank FX desk, the naira weakened by N7 against the dollar to quote N1,356/$1.

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