Nigeria: Court Tells FG to Give Loans to Poor Nigerians

A Federal High Court sitting in Lagos, has directed the Federal Government to provide loans to under-privileged Nigerians through the Peoples Bank of Nigeria.

Trial judge, Justice M Idris in his judgment in a suit by rights activist, Mr Femi Falana, SAN, also held that the Peoples Bank Act, Cap P7 2004, has not been repealed by the National Assembly.

Falana had in the suit, asked the court to determine, whether the continuous refusal to give effect to the provisions of the Peoples Bank Act, Cap P7 LFN 2004 by the Federal Government was not illegal, null and void, having regard to section 1 of Peoples Bank Act, Cap P7 Laws of the Federation of Nigeria, 2004.

He had also asked the court to determine whether the failure or refusal of the Federal Government to make loans available to underprivileged Nigerians was not illegal and unconstitutional, having regard to the Peoples Bank Act, Cap P7 Laws of the Federation of Nigeria, 2004.

The court also directed the Federal Government to continue to give effect to the provisions of the Peoples Bank Act, Cap P7 Laws of the Federation of Nigeria, 2004.