• Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • More…
    • About
    • Privacy Policy
    • Advertise
Friday, December 5, 2025
  • Login
No Result
View All Result
NEWSLETTER
Elanza News
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • More…
    • About
    • Privacy Policy
    • Advertise
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • More…
    • About
    • Privacy Policy
    • Advertise
No Result
View All Result
Elanza News
Home News

Federal High Court Orders CBN to Disclose Foreign Exchange Subsidy Information in Response to Request from HEDA

Elanza by Elanza
May 14, 2023
in News
0
Court Sentences Lecturer  Over Assault
0
SHARES
7
VIEWS
FacebookTwitterWhatsappEmailTelegram

By Abubakar Yunus, Abuja

THE Federal High Court in Abuja has ruled in favor of the Incorporated Trustees of Human and Environmental Development Agenda (HEDA Resource Centre) in a case against the Central Bank of Nigeria (CBN). The court’s decision, based on suit number FHC/ABJ/CS/1622/2020, comes after the CBN denied HEDA Resource Centre’s Freedom of Information (FoI) request.

RelatedPosts

Three Suspected Bandits’ Financiers Nabbed in Sokoto, Stolen Items Recovered

“Direct Government Involvement In Business Will Drive Economic Growth”- Dr. Takang

MOFI Awards: Finance Minister Inaugurates Panel, Charges On Transparency, Meritocracy

The leading Anti-corruption Organization, HEDA, had initially submitted a comprehensive FoI request to the CBN on November 14, 2020, seeking detailed information about the CBN’s schemes designed to sell the dollar at subsidized rates.

The request included specific details such as the disbursed amounts under each scheme, sector-wise breakdowns, and beneficiary information related to the forex intervention scheme. Unfortunately, the CBN did not respond to the FoI request, prompting HEDA Resource Centre to pursue legal action to challenge the CBN’s denial.

In response, the CBN filed a Notice of Preliminary Objection on November 3, 2021, but the court ultimately dismissed it. The CBN later submitted a counter-affidavit on February 2, 2022, denying possession of the requested information.

HEDA, through its lawyer Seidu Mohammed, countered with a further affidavit and a Reply Address on February 18, 2022, supported by 11 exhibits. These exhibits, obtained from the CBN’s website, included circulars illustrating the provision of concessional exchange rates for pilgrims’ Personal Travel Allowance (PTA).

Upon examination, the court deemed these exhibits as substantial evidence supporting HEDA Resource Centre’s claim that the CBN had indeed been providing foreign exchange subsidies. As a result, the court held the CBN responsible for producing reports regarding the extent of its involvement in these schemes, including information from banks regarding the beneficiaries.

ALSO READ:  Farmer Governor Bago Pays Respects To Late Muhammad Saba Kutiriko's Funeral

In its judgment, the court emphasized the vital role of public access to information and records in ensuring accountability, transparency, citizen participation, and good governance within a democracy.

The Freedom of Information (FoI) Act was established precisely to promote transparency and combat corruption. The court unequivocally asserted that all institutions and government agencies must comply with the provisions of the Act in the interest of justice, transparency, and national development.

Consequently, the court has issued a compelling order to the CBN, a public institution, to disclose the information requested by HEDA in their FoI request. The court deemed the CBN’s failure to provide the information as unlawful, resulting in an order of Mandamus to release the requested information outlined in HEDA’s FoI request dated October 14, 2020.

Previous Post

Group Urges Nigerians To Take Ownership Of Fight Against Corruption

Next Post

Boxing: Tyson Fury Hopes Anthony Joshua Knocks Out Wilder

Elanza

Elanza

Related Posts

Three Suspected Bandits’ Financiers Nabbed in Sokoto, Stolen Items Recovered

Three Suspected Bandits’ Financiers Nabbed in Sokoto, Stolen Items Recovered

by Nathaniel Irobi
December 5, 2025
0

The police command in Sokoto State has arrested three suspected financiers of banditry and several other individuals linked to motorcycle...

“Direct Government Involvement In Business Will Drive Economic Growth”- Dr. Takang

“Direct Government Involvement In Business Will Drive Economic Growth”- Dr. Takang

by Elanza
December 5, 2025
0

By Mibzar Nixon Jallo, Abuja The Managing Director and Chief Executive Office of the Ministry of Finance Incorporated (MOFI), Dr....

Private sector alone can’t do business in Nigeria, state owned enterprises critical – MOFI

MOFI Awards: Finance Minister Inaugurates Panel, Charges On Transparency, Meritocracy

by Elanza
December 5, 2025
0

By Mibzar Nixon Jallo The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has inaugurated the panel...

Next Post
Boxing: Tyson Fury Hopes Anthony Joshua Knocks Out Wilder

Boxing: Tyson Fury Hopes Anthony Joshua Knocks Out Wilder

Breaking: IGP Orders Arrest Of Seun Kuti For Beating Up A Policeman

Group Wants Kuti Prosecuted For Assaulting Police Officer

Recommended

Omini To CJTF: What We Do Today Will Determine Nigeria’s Peace Tomorrow

Omini To CJTF: What We Do Today Will Determine Nigeria’s Peace Tomorrow

6 days ago
Insecurity: Northern Leaders Propose Suspension of Mining and Support State Police

Insecurity: Northern Leaders Propose Suspension of Mining and Support State Police

4 days ago

Popular News

  • Gen. Gora Unveils Campaign Office In Jaba LGA  A Head Of 2027 Elections

    Gen. Gora Unveils Campaign Office In Jaba LGA A Head Of 2027 Elections

    0 shares
    Share 0 Tweet 0
  • Police, Council Accused of Backing Illegal Land Deals

    0 shares
    Share 0 Tweet 0
  • DRTS Jabi Officers Hail Yeldu’s Appointment

    0 shares
    Share 0 Tweet 0
  • TSM Publisher Condoles Mayor Igbokwe Over Mother’s Death

    0 shares
    Share 0 Tweet 0
  • The Holy Robe That Covered Evil

    0 shares
    Share 0 Tweet 0

Connect with us

Facebook Instagram Twitter Youtube
Elanza logo

Elanza News is your NO 1 online platform for all news update.
#SayNoToFakeNews
Contact Us

Category

  • Arts & Literature (25)
  • Business (801)
  • Education (242)
  • Entertainment (326)
  • Health (217)
  • National (2,785)
  • News (9,216)
  • Opinion (360)
  • Politics (1,817)
  • Science (15)
  • Security (411)
  • Sports (525)

Newsletter

© 2023 Elanza News - The No 1 online news platform

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Politics
  • Business
  • Science
  • National
  • Entertainment
  • Sports
  • Health

© 2023 Elanza News - The No 1 online news platform