Business

Court restrains ARCON from enforcing N60bn fine on Facebook

Published

1 week ago

December 13, 2024

Court restrains ARCON from enforcing N60bn fine on Facebook

The Federal High Court in Lagos has granted an interim order restraining the Advertising Regulatory Council of Nigeria (ARCON), formerly known as the Advertising Practitioners Council of Nigeria (APCON), or its agents from demanding N60 billion from Facebook Nigeria Operations Limited for an alleged violation.

Justice Yellim Bogoro made the order on Thursday, December 12, 2024, in suit FHC/L/CS/2205/2024, following a November 29, 2024, motion ex-parte application filed by Facebook through its counsel Mofesomo Tayo-Oyetibo (SAN) of Tayo Oyetibo LP.

The judge, upon reading the affidavit in support of the Motion ex parte sworn to by Folasade Dada, and after hearing Mr. Tayo-Oyetibo with Jessica Adeola-Ajayi, granted the application.

Justice Bogoro held: “I have considered the ex parte application made, the reliefs sought particularly relief number two of the ex parte application, the affidavit in support, the facts deposed thereto in the affidavit. I find merit in the application. I shall grant the reliefs in part. I make this Order.

“It is hereby ordered as follows: That an Interim Order of Injunction is hereby made pending the determination of the Motion on Notice herein filed for interlocutory injunction restraining the Defendant whether by itself or through its officers, agents, servants and any other person acting under its authority from enforcing or further enforcing in any manner whatsoever the notice of violation/demand for compliance dated 21 October 2024 issued by the Defendant to the Applicant. I strongly feel the second relief sought is subsumed in the first relief.

READ ALSO:

“That this suit is hereby adjourned to the 20th day of February 2025 for hearing of Motion on Notice. Hearing Notice be served on the Defendant.”

Facebook had sought two reliefs.

The first was “An interim order of injunction, pending the determination of the Motion on Notice for interlocutory injunction, restraining the Defendant, whether by itself or through any person acting under its authority from enforcing or further enforcing in any manner whatsoever the Notice of Violation/Demand for Compliance dated 21st October 2024 issued by the Defendant to the Applicant.”

The second relief sought an interim order of injunction restraining ARCON, whether by itself or through its prosecutors or anyone acting under its authority, “from instituting or commencing criminal proceedings in the Advertising Offences Tribunal to prosecute the Applicant, its officers, agents or representatives, with respect to the allegations and/or decisions made by the Defendant and/or subject matter of the Notice of Violation/Demand for Compliance dated 21st October 2024 issued by the Defendant to the Applicant.”

In seeking the reliefs, the Applicant filed 11 grounds for the application.

It stated that ARCON issued it a Notice of Violation/Demand for Compliance dated 21 October 2024 (“ARCON Notice”) making certain allegations and decisions against Facebook, including imposing the N60bn fine.

But Facebook was “challenging the constitutionality of the ARCON Notice based on grounds of denial of fair hearing, its unlawfulness under the Advertising Regulatory Council of Nigeria Act 2022 (“ARCON Act”) and as an ultra vires act of the Defendant.

It continued: “The Defendant threatened that it will enforce the ARCON Notice against the Applicant by criminal prosecution in the Advertising Offences Tribunal (“Tribunal”) if the Applicant does not satisfy its demands.

“The Applicant issued a statutory pre-action notice demanding the Defendant to withdraw the threat of enforcement, yet the Defendant has not done so.

“Order Vill Rule I of the Advertising Offences Tribunal Practice Direction mandates that a hearing in the Tribunal must be completed within 180 days of filing the charge. Section 306 of the Administration of Criminal Justice Act 2015, which applies in the Tribunal, prohibits the grant of an order for a stay of proceedings in a criminal matter.

“The Defendant appoints the prosecutor in the Tribunal, while the Chairman and other members of the Tribunal were appointed on the recommendation of the Defendant.”

Facebook added that “it would be vexatious and oppressive to the Applicant and unconscionable for the Defendant to initiate criminal proceedings against the Applicant based on the allegations and decisions made by the Defendant in the ARCON Notice, while the Applicant’s suit challenging the constitutionality and legality of the ARCON Notice is pending in this Court.”

The firm averred that there was “the urgent need for this Court to retain full control of the subject matter of this suit and protect the Applicant from the Defendant’s vexatious and oppressive conduct.

“It is necessary for the Court to prevent abuse of the judicial process by the Defendant’s proliferation of litigation on the same subject matter.”

Court restrains ARCON from enforcing N60bn fine on Facebook

Railway

Lagos Rail Mass Transit part of FG free train ride – NRC

Published

15 hours ago

December 21, 2024

Trends Admin

Lagos Rail Mass Transit part of FG free train ride – NRC

The Nigerian Railway Corporation (NRC) has disclosed that the Lagos Rail Mass Transit (LRMT) trains are included in the Federal Government’s free train ride initiative for the Christmas and New Year celebrations.

The LRMT, which currently includes the Phase 1 Blue Line Rail and the Phase 1 of the Red Line Rail, operates under the Lagos Metropolitan Area Transport Authority (LAMATA).

This announcement was made by Ben Iloanusi, the Acting Managing Director of the NRC, during an interview on NTA News TV on Friday, following the launch of the initiative earlier that day.

While Iloanusi stated that Phase 1 of both the Blue Line and Red Line Rail projects are part of the program, LAMATA has yet to confirm this inclusion.

READ ALSO:

Iloanusi outlined the other routes benefiting from the scheme, which include the Lagos-Ibadan Train Service, Kaduna-Abuja Train Service, Warri-Itakpe Train Service, Port Harcourt-Aba Train Service, and the Bola Ahmed Tinubu Mass Transit in Lagos. Notably, little was previously known about the Bola Ahmed Tinubu Mass Transit service until this disclosure.

“Let me mention the routes where this free train service is happening. We have the Lagos-Ibadan Train Service, we have the Kaduna-Abuja Train Service, we have the Warri-Itakpe Train Service, we have the Lagos Rail Mass Transit trains, we have the Port Harcourt-Aba Train Service, and we have what we call the Bola Ahmed Tinubu Mass Transit, which is also in Lagos,” he stated.

Iloanusi provided operational updates, stating that passengers nationwide can access free tickets online or, for those unable to do so, at train stations where they will be profiled and validated.

He noted that passengers using NRC-managed services (excluding the Lagos Rail Mass Transit) should reserve tickets via the official website, www.nrc.gov.ng, with a valid ID required. He also advised travelers to plan, arrive on time, and bring valid identification.

Lagos Rail Mass Transit part of FG free train ride – NRC

Business

NNPC denies claim of Port Harcourt refinery shutdown

Published

16 hours ago

December 21, 2024

Trends Admin

Port Harcourt refinery

NNPC denies claim of Port Harcourt refinery shutdown

The Nigerian National Petroleum Company Limited (NNPCL) has denied claims in media reports that the newly refurbished Port Harcourt refinery has shut down.

The national oil company denied the claim in a press release issued by its Chief Corporate Communications Officer, Olufemi Soneye, on Saturday.

Soneye said the claim was false and urged Nigerians to disregard it. He stressed that the Port-Harcourt Refinery is fully operational.

READ ALSO:

The statement read, “The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.

“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.”

He noted that preparation for the day’s loading operation is currently ongoing, and added that claims of the shutdown are “figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.”

NNPC denies claim of Port Harcourt refinery shutdown

Business

CBN permits BDCs to buy up to $25,000 FX weekly from NFEM

Published

2 days ago

December 20, 2024

Trends Admin

CBN Governor, Olayemi Cardoso

CBN permits BDCs to buy up to $25,000 FX weekly from NFEM

The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).

This move, detailed in a circular dated December 19, 2024, is designed to meet seasonal retail demand for FX during the holiday period.

The circular was signed by T.G. Allu, on behalf of the Acting Director of the Trade and Exchange Department.

The arrangement will be in effect from December 19, 2024, to January 30, 2025.

Under the directive, BDCs may purchase FX from a single Authorized Dealer of their choice, provided they fully fund their accounts before accessing the market.

Transactions to occur at the prevailing NFEM rate

The transactions will occur at the prevailing NFEM rate, and BDCs are required to adhere to a maximum 1% spread when pricing FX for retail end-users.

READ ALSO:

All transactions conducted under this scheme must be reported to the CBN’s Trade and Exchange Department.

The circular read in part:

“In order to meet expected seasonal demand for foreign exchange, the CBN is allowing a temporary access for all existing BDCs to the NFEM for the purchase of FX from Authorised Dealers, subject to a weekly cap of USD 25,000.00 (Twenty-five thousand dollars only).

This window will be open between December 19, 2024 to January 30, 2025.

“BDC operators can purchase FX under this arrangement from only one Authorized Dealer of their choice and will be required to fully fund their account before accessing the market at the prevailing NFEM rate. All transactions with BDCs should be reported to the Trade and Exchange department, and a maximum spread of 1% is allowed on the pricing offered by BDCs to retail end-users.”

The CBN assured the general public that PTA (Personal Travel Allowance) and BTA (Business Travel Allowance) remain available through banks for legitimate travel and business needs.”

These transactions are to be conducted at “market-determined exchange rates” within the NFEM framework.

This initiative reflects the CBN’s strategy to stabilize the FX market and manage seasonal surges in demand.