The Federal High Court sitting in Abuja has dismissed a suit instituted against the cash-less policy initiative of the Central Bank of Nigeria (CBN).In a suit filed on behalf of eleven riverine communities namely, Akpakpa, Ogidigben, Madagho, Ijalla, Kantu, Omadino, Ogheye, Dhege, Ajudaibo, Obaghoro and Ikoghoro, all in Delta State, challenging the policy which restricted cash withdrawals and lodgments to a daily limit, the judge, Honourable Justice Balkisu Bello Aliyu, held that, “the policy directive issued by the respondents, the Central Bank of Nigeria and its governor does not contravene the fundamental rights of the applicant under section 44(1) of the Constitution of Nigeria as amended or under any section in chapter IV of the said constitution.”
Justice Aliyu also stated that “the applicant is not obliged to transact banking business with any bank at all. But where he decides to do so, he must comply with any regulations the respondents issued for the regulation of that sector.”
The judge, therefore, declared that she found no merit on the suit and it was dismissed accordingly.
The judge further ruled “that in as much as the government will grant licences for the establishment of banks and other financial institutions for the benefit of its people, the choice of whether or not to make use of such institutions is entirely the discretion of the people.”
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