The constitutional history of Nigeria commenced after the conquest of Lagos in 1861 by the British. One year after, Lagos was declared a new ‘Crown Colony’ or settlement, and the first colonial constitution was introduced in Nigeria.
A Legislative Council comprising a Chief Justice, Colonial Secretary and a senior military officer commanding the imperial forces, was introduced. The Legislative Council was charged with the responsibility of advising the governor in framing legislation for the colony.
Unfortunately, the Association of Bureau de Change Operators of Nigeria-ABCON in their weak defense only said the new regulation would worsen unemployment in the country without responding to the numerous breaches CBN accused their members of.
More so, opposition lawmakers in the House of Representatives seem to be playing politics with the grave issues raised by CBN by opposing the bank’s resolve to salvage the ugly situation.
By and large, sources close to CBN said more and more people were seeking for licenses, to the effect that if not checked, the bank would end up licensing about 5,000 BDCs before the end of 2014. Economists are concerned that this could be an indication to indirect funding of an underground economy, a system considered as “highly destructive to the overall management of economic variables.”
In the midst of the country’s precarious situation, some pertinent questions need to be answered. They include, what is the difference between money laundering and terrorist financing? What agency is responsible for fighting terrorism in Nigeria? How do we report suspicious activity relating to terrorism? What is the legal framework against terrorist financing in Nigeria?
The Central Bank of Nigeria, CBN clampdown on Bureau de Change in Nigeria through the recapitalisation from N10 million to N35 million operational licence is aimed at curbing the growing incidence of money laundering and terrorism funding plaguing the country.
In between the latitudes of helpless prevarication by the victims that they have no alternative habitat beside the flood plains and pecuniary distortions by those entrusted with the administration of public and private goodwill, seems to be positioned the future of disaster management in Nigeria.
Months after the relief funds were announced, all the targeted communities are still agitating for their share. In almost all the states ravaged by the 2012 flood (all of which are still the focus of current alerts), it has been controversy galore and mass suspicion by the victims.
The revelation of the huge amount purportedly invested by government in the management and curtailment of flooding generally in Nigeria by NEMA’s boss has continued to raise some dust in the public domain.
This is particularly with reference to the country’s capacity or capability to handle future disasters of 2012’s magnitude or relatively lesser ones like this year’s, for which Nigerians are being alerted by all the relevant agencies.
Months before 2012 flood disaster, the Nigerian Meteorological Agency, NIMET, predicted heavy rainfall. Based on this, NEMA sent out early warning messages via radio to governments and citizens in seven states, including Kano in the north.
Two weeks ago, John Ayoade Shamonda, director general of the Nigeria Hydrological Services Agency told newsmen that the agency had placed some states in the North-East, North-West and some parts of the North-Central region under flood alert. He said that states such as Sokoto, Zamfara, Yobe, Bauchi, Niger, Benue, Kebbi, Nasarawa, Taraba, Adamawa, Ogun, Osun, and Oyo had been placed on high risk by the agency’s 2014 flood prediction.