Court dismisses case against CBN

The Central Bank of Nigeria on Tuesday, said the Federal High Court sitting in Abeokuta, Ogun State Capital, dismissed a suit instituted by a legal practitioner, Olumide Babalola, challenging the CBN policy on current account maintenance fee contained in the guide to the charges by banks and other financial institutions of January 2020.

It disclosed this in a statement titled, ‘Court dismisses case against CBN’s directives on bank charges’.

The CBN stated that, “Babalola had instituted the action in the name of his law firm, Babalola LP, in which he contended that the policy and guidelines of the CBN violated his fundamental human rights.

“The CBN, through its counsel, Adeleke Agbola, of Cheakley Chambers, however challenged the suit on the ground that the plaintiff lacked the legal capacity to institute the suit on a policy that affects the public.