The Federal Government has been directed by a Federal High Court sitting in Lagos to provide loans to under-privileged Nigerians through the Peoples Bank of Nigeria.
Justice M. Idris, the trial judge in his judgment in a suit filed by rights Activist, Mr Femi Falana, SAN, also held that the Peoples Bank Act, Cap. P7 2004, has not been annulled by the National Assembly.
Falana had in the suit, asked the court to determine whether the continuous refusal to give effect to the provisions of the Peoples Bank Act, Cap P7 LFN 2004 by the Federal Government was not illegal, with regard to section 1 of Peoples Bank Act, Cap P7 Laws of the Federation of Nigeria, 2004.
He had also asked the court to determine whether it was not illegal and unconstitutional for the Federal Government to refuse making loans available to underprivileged Nigerians with regard to the Peoples Bank Act, Cap P7 Laws of the Federation of Nigeria, 2004.
The court however directed the Federal Government to continue to give effect to the provisions of the Peoples Bank Act, Cap P7 Laws of the Federation of Nigeria, 2004.
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