Friday, December 1, 2023

SERAP Sues CBN Over ‘Unlawful Regulations On Customers’ Social Media Handles’

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Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) over “the failure to delete the patently unlawful provisions in the Central Bank of Nigeria (Customer Due Diligence)

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.”

READ ALSO: Naira Depreciates To N860/$ Ahead Of Crucial Central Bank Meeting

In the suit number FHC/L/CS/1410/2023 filed last Friday at the Federal High Court in Lagos, SERAP 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.”

READ ALSO: Obtain Customers’ Social Media Handles For Identification-  CBN Orders Banks

SERAP is also seeking: “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.”

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Photo Credit: Getty

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