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SERAP Files Lawsuit Against Pres. Tinubu Over Failure To Probe Missing Fuel Subsidy Payments

SERAP Files Lawsuit Against Pres. Tinubu Over Failure To Probe Missing Fuel Subsidy Payments

SERAP sues CBN over regulation mandating banks to obtain customers social media information

 

 

The Socio-Economic Rights and Accountability Project (SERAP) has dragged the Central Bank of Nigeria before the Federal High Court in Lagos over recent regulation that mandates customers to submit their social media handles to banks for identification purposes.

 

Making this disclosure in a tweet on Sunday, SERAP is asking the court to compel the apex bank to withdraw the directive arguing that it does not serve a legitimate aim.

 

“We’ve sued the Central Bank of Nigeria (CBN) over the patently unlawful provisions in the CBN (Customer Due Diligence) Regulations, 2023 directing banks to obtain information on customers’ social media handles for the purpose of identification,” a tweet by the rights group read.

 

Files last Friday at the Federal High Court In Lagos, the case with suit number FHC/L/CS/1410/2023 is seeking: “an order of mandamus to direct and compel the Central Bank of Nigeria to withdraw its directive dated 20th June, 2023 to banks and other financial institutions to obtain information from customers’ social media handles.”

 

The group also wants the court to issue an order of mandamus to “compel the CBN to delete the unlawful provisions of Section 6 of its Customer Due Diligence Regulations, 2023 for being inconsistent with Section 39 of the Nigerian Constitution 1999 [as amended] and Article 9 of the African Charter on Human and Peoples’ Rights.”

 

The group also wants an order restraining the apex bank from carrying out or giving effect to the unlawful provisions of Section 6 of its Customer Due Diligence Regulations, 2023 directing banks and other financial institutions to obtain information from customers’ social media handles.

 

Making a case for withdrawal of the regulation, SERAP in the suit argued that the mandatory requirement of social media handles or addresses of customers does not serve any legitimate aim. 

 

According to the group, there’s  a high chance that such information will be used to unjustifiably or arbitrarily restrict the rights to freedom of expression and privacy.

 

The CBN had last month issued a Circular mandating banks and other financial institutions to implement and comply with the mandatory provisions on customers’ social media handles in the CBN Regulations.”