Editorial
That Court Ruling On BVN
Against the backdrop of failure to fully implement the Biometric Verification Number policy of the banking sector, Justice Nnamdi Dimgba of the Federal High Court in Abuja last week, granted a request by Attorney General of the Federation, Abubakar Malami, for a temporary forfeiture of all funds held in bank accounts not linked to BVNs.
Also to be forfeited are funds in accounts whose ownership could not be identified. The latter are accounts without sufficient know-your-customer credentials.
The order which followed an originating motion of notice filed by Malami on behalf of the Federal Government on September 28, granted all the nine reliefs sought by Malami, represented by a lawyer, Usman Dakas, on October 17.
The court ordered all the 19 deposit money banks (DMBs), operating in the country to release to the Federal Government names of accounts not yet connected to BVN; account numbers; their outstanding balances; domiciling locations and domiciliary accounts without BVN and where they are domiciled.
The court also ordered all of them to disclose any investments made with funds, and to withhold authorisation for any outward inflow of funds from the accounts.
All the details are to be submitted to Nigeria Inter-Bank Settlement System (NIBSS) and the CBN for authentication, while the banks were also directed to publish all bank accounts not linked to BVN in national newspapers with a 14-day notice for individuals with interest in such accounts to come forward and justify why their funds should not be forfeited to the Federal Government. CBN, which was joined as 20th respondent alongside the 19 DMBs, was also directed to appoint an official who will examine all the details submitted to the apex bank for compliance.
The government argued the matter under Section 3 of the Money Laundering Act. The section says banks must “ensure that documents, data or information collected under the customer due diligence process is kept up-to-date and relevant by undertaking reviews of existing records, particularly for higher risk categories of customers or business relationships.”
The Tide endorses the decision of the High Court. The CBN disclosure that only 20.8 million customers enrolled 40 million bank accounts, leaving about 46 million accounts yet to be verified eight months after the final deadline for customers within and outside Nigeria to enroll, is condemnable and demands some measure of compulsion.
We recall that the BVN was introduced by the ex-President Goodluck Jonathan’s administration in 2014 and deadline issued for compliance shifted twice to consolidate the anti-corruption matrix and as an enabler for the future development of digital banking.
This measure, we believe, is not only critical to the future of financial services but to the evolution of fintech and improved regulatory oversight over funds movement in the economy. It would also empower quality service founded on actual accounts in a corruption-free environment.
The Tide frowns at the soft approach to the enforcement of the BVN policy occasioned by the CBN’s inability to demand from deposit money banks, detailed explanation on low rate of sign-on and to create remedial course as part of its regulatory function. And more importantly, the CBN needs to assert its position as an anti-corruption facilitator within existing rules and laws.
Over the last three years, we have seen how the biometric verification exercise has aided fiscal house cleaning, exposing ghost workers and helped the trio of government, depositors and banks provide better understanding of fund flow in the country.
We believe that if the effort government is making to unmask dubious Nigerians and their foreign collaborators is strictly followed through strict BVN enrollment, several millions and billions of public funds will be recovered.
It is hoped that capital flight and corruption through illicit arms dealing, drug trafficking, smuggling, cyber crimes and others will be exposed and dealt with sooner or later if the BVN policy is implemented with the dexterity it deserves.
We, therefore, urge the authorities not to leave any stone unturned to ensure the full implemenation of the BVN policy to stamp out corruption in the nation’s economy.
What Nigeria needs now is to build positive national and international image devoid of corruption that will attract the confidence of investors to boost her economy.
Editorial
NCC, Save Nigerians From Exploitation
Editorial
WPFD: Nigeria’s Defining Test
Nigeria stands at a critical juncture as the world marked World Press Freedom Day (WPFD) on May 3. This annual observance is a reminder that a free press is central to democratic life, good governance, and public accountability. For Nigeria, it is also a moment for sober reflection on how far the country has come and how far it still has to go in safeguarding the independence of its media.
World Press Freedom Day exists to highlight the fundamental importance of freedom of expression and to honour journalists who risk their lives in pursuit of truth. It underscores the idea that without a free press, societies cannot function transparently, nor can citizens make informed decisions. In countries like Nigeria, where democracy continues to evolve, the observance carries particular urgency.
This year’s theme, “Shaping a Future at Peace: Promoting Press Freedom for Human Rights, Development and Security”, places journalism at the heart of global stability. It emphasises that a peaceful society cannot be built on silence, fear, or manipulated information. Rather, it depends on the free flow of accurate, timely, and independent reporting.
At its core, the theme highlights the role of journalism in fostering accountability, dialogue, and trust. These are not abstract ideals. In Nigeria, where public confidence in institutions is often fragile, the media remains one of the few platforms through which citizens can question authority and demand transparency. When press freedom declines, so too does public trust.
Journalism serves as a foundation for peace, security, and economic recovery. Countries with robust media systems tend to attract greater investment, maintain stronger institutions, and resolve conflicts more effectively. Nigeria’s economic challenges, ranging from inflation to unemployment, require open scrutiny and informed debate, both of which depend on a free press.
However, the issue of information integrity has become increasingly complex in the digital age. Artificial Intelligence (AI) and online platforms have amplified the spread of misinformation and disinformation. In Nigeria, where internet penetration has grown rapidly, false narratives can travel faster than verified facts. This makes the role of credible journalism more vital than ever.
The challenge is not only technological but also ethical. AI-driven manipulation of information threatens to distort public discourse, influence elections, and deepen social divisions. In such an environment, professional journalism must act as a stabilising force, ensuring that truth prevails over sensationalism and propaganda.
Equally troubling is the safety of journalists. Across Nigeria, reporters face growing levels of online harassment, judicial intimidation, and physical threats. Self-censorship is becoming more common, as media practitioners weigh the risks of reporting sensitive issues. This trend undermines the very essence of journalism.
A particularly alarming incident involved a serving minister in the present administration, who openly threatened to shoot a journalist during a televised exchange. Such conduct, broadcast to the public, sends a dangerous signal that hostility towards the press is acceptable. It erodes the norms of democratic engagement and places journalists in harm’s way.
This year’s theme aligns closely with the United Nations Sustainable Development Goal (SDG)16, which promotes peace, justice, and strong institutions. Freedom of expression is a cornerstone of this goal. Without it, institutions weaken, corruption thrives, and justice becomes elusive. Nigeria’s commitment to SDG 16 must therefore include genuine protection for the media.
Historically, the Nigerian press has been a formidable force. From resisting colonial rule to challenging military dictatorships, our journalists have played a central role in shaping the nation’s political landscape. Today, however, that legacy appears to be under strain, as the media operates under what can best be described as a veneer of freedom.
Beneath this facade lies a troubling reality. Journalists are routinely harassed, detained, and prosecuted for performing their constitutional duties. Reports from media watchdogs indicate that dozens of Nigerian journalists face legal threats or arrest each year, often for exposing corruption or criticising those in power.
The Cybercrimes (Prohibition, Prevention, etc.) Act of 2015 has become a focal point of concern. Originally intended to combat cyber threats, it has increasingly been used to silence dissent. Sections 24 and 27(1)(b), in particular, have been invoked to target journalists, bloggers, and social commentators.
Although amendments introduced in February 2024 were meant to safeguard journalists, concerns persist. The law continues to be wielded in ways that stifle investigative reporting and restrict freedom of expression. Legal reforms must go beyond cosmetic changes to address the root causes of misuse.
To safeguard the future of journalism in Nigeria, decisive action is required. The Cybercrimes Act must be revisited to ensure it cannot be weaponised against the press. Law enforcement agencies must operate free from political influence, upholding the rule of law and protecting journalists’ rights. Civil society and international partners must also strengthen independent media through funding, training, and platforms for wider reach.
In this rapidly evolving world shaped by artificial intelligence and digital innovation, Nigeria faces a clear choice. It can either allow press freedom to erode under pressure, or it can champion a truly independent media landscape. The path it chooses will determine not only the future of journalism, but also the strength of its democracy and the peace it seeks to build.
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