40Billion Bond: Obla Sues Cross River Government

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Barrister Obono Obla
Barrister Obono Obla

The controversy hovering over the 40Billion Naira Bond that the Cross River State Government plans to raise to recapitalize its debt has refused to abate just as human rights lawyer and politician, Bar. Obono Obla has proceeded to the High Court in Calabar to seek judicial intervention in the matter.

In the originating summons filed at the Calabar High Court and made available to CrossRiverWatch, Bar. Obla is asking the court to determine: “

1. Whether the Government of Cross Rive State of Nigeria is entitled to spend the money or loan obtained by her from the floating of the Cross River State Bonds Development Law, Volume 4 of 2014 from any Bank or Financial Institution without appropriating such monies in the form of an Appropriation Law as contemplated by Section 162 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).

2. Whether the Cross River State Bonds Development Law is constitutional in view of the fact that it did not pass through the fundamental requirements that a Bill should have been subjected to.

In his claims, Barrister Obla wants the court to among other things, make:

1. A Declaration that the Cross River State Bonds Development Law, Volume 4 of 2014 is inconsistent to the provisions of Section 120 subsections 1, 2, 3 & 4 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and therefore illegal, wrongful, unconstitutional , null and void.

2. An Order striking out the Cross River State Bonds Development Law, Volume 4 of 2014 for being at variance with provisions of Section 120 subsections 1, 2, 3 & 4 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).

3. An order of perpetual injunction restraining the 1st Defendant, their servants, agents and or privies from giving any legal effect whatsoever and or acting on the Cross River State Bonds Development Law (supra).

4. An order of perpetual injunction restraining the 1st Defendant, their servants, agents and or privies from obtaining money or loan from any Bank or Financial Institution under the guise of the implementation or execution of the Cross River State Bonds Development Law (supra).

Below is the full text of the processes filed in the court:

IN THE HIGH COURT OF CROSS RIVER STATE OF NIGERIA
IN THE CALABAR JUDICIAL DIVISION
HOLDEN AT CALABAR

SUIT NO. HC/ /2014

BETWEEN:

CHIEF OKOI OFEM OBONO-OBLA

AND

1. GOVERNMENT OF CROSS RIVER STATE OF NIGERIA
2. ATTORNEY GENERAL OF CROSS RIVER STATE OF NIGERIA
3. SPEAKER, CROSS RIVER STATE HOUSE OF ASSEMBLY

ORIGINATING SUMMONS PURSUANT TO ORDER RULE OF THE CROSS RIVER STATE OF NIGERIA HIGH COURT(CIVIL PROCEDURE) RULES, 2008.

LET THE GOVERNMENT OF CROSS RIVER STATE OF NIGERIA; ATTORNEY-GENERAL AND COMMISSIONER OF JUSTICE OF CROSS RIVER STATE OF NIGERIA, MINISTRY OF JUSTICE, CALABAR, CROSS RIVER STATE, NIGERIA AND SPEAKER OF THE CROSS RIVER STATE HOUSE OF ASSEMBLY, ASSEMBLY COMPLEX, CALABAR, CROSS RIVER STATE, NIGERIA within Eight (8) days after the service of this Summons, inclusive of the day of such service cause an appearance to be entered for him to this Summons which is issued upon the application of who claims to be entitled to the reliefs hereafter set out and for the determination of the following questions:

3. Whether the Government of Cross Rive State of Nigeria is entitle to spend the money or loan obtained by her from the floating of the Cross River State Bonds Development Law, Volume 4 of 2014 from any Bank or Financial Institution without appropriating such monies in the form of an Appropriation Law as contemplated by Section 162 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).

4. Whether the Cross River State Bonds Development Law (supra) is constitutional in view of the fact that it did not pass through the fundamental requirements that a Bill should have been subjected to.
The Claimant’s claim against the Defendants jointly and severally is as follows

5. A Declaration that the Cross River State Bonds Development Law, Volume 4 of 2014 is inconsistent to the provisions of Section 120 subsections 1, 2, 3 & 4 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and therefore illegal, wrongful, unconstitutional , null and void.

6. An Order striking out the Cross River State Bonds Development Law, Volume 4 of 2014 for being at variance with provisions of Section 120 subsections 1, 2, 3 & 4 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).

7. An order of perpetual injunction restraining the 1st Defendant, their servants, agents and or privies from giving any legal effect whatsoever and or acting on the Cross River State Bonds Development Law (supra).

8. An order of perpetual injunction restraining the 1st Defendant, their servants, agents and or privies from obtaining money or loan from any Bank or Financial Institution under the guise of the implementation or execution of the Cross River State Bonds Development Law (supra).

This summons was taken out by Chief Okoi O. Obono-Obla of Messrs Obono, Obono & Associates (Legal Practitioners & Consultants) TRINITY HOUSE, SECOND FLOOR, MABUSHI, Federal Capital Territory, Abuja, Nigeria and Legal Practitioners/Counsel (08033490404; 08033303287) to the above named Plaintiff.

The Defendant(s) may appear hereto by entering appearance personally or by Legal Practitioner either by handing in the appropriate forms duly completed at the High Court Registry or by sending them to that office by post.

Note: If the Defendant does not enter appearance within the time and at the place above mentioned such orders will be made and proceedings may be taken as the Judge may think just and expedient


IN THE HIGH COURT OF CROSS RIVER STATE OF NIGERIA
IN THE CALABAR JUDICIAL DIVISION
HOLDEN AT CALABAR

SUIT NO. HC/ /2014

BETWEEN:

CHIEF OKOI OFEM OBONO-OBLA

AND
1. GOVERNMENT OF CROSS RIVER STATE OF NIGERIA
2. ATTORNEY GENERAL OF CROSS RIVER STATE OF NIGERIA
3. SPEAKER, CROSS RIVER STATE HOUSE OF ASSEMBLY

AFFIDAVIT IN SUPPORT OF ORIGINATING SUMMONS

I, Okoi Ofem Obono-Obla, Male, Legal Practitioner and a Nigerian citizen residing at Federal Housing Estate Phase Two, Karu, Federal Capital; Territory, Abuja, Nigeria do hereby make Oath and state as follows thus:

1. I am the Claimant in this case and as such the facts of this case are within my personal knowledge.

2. I am an indigent of Yakurr Local Government Area of Cross River State of Nigeria.

3. The Cross River State House of Assembly recently passed the Cross River State Bonds Development Law, Volume
4, 2014 that authorises the Government of Cross River State of Nigeria to float a Bond to raise the Sum of N40 Billion from the capital market for the purpose of the financing of uncompleted projects executed by the Government of Cross River State of Nigeria.

4. I know as a fact that the raising of the loan of N40 Billion from the capital market by the Government of Cross River State of Nigeria which is the general purport of the Cross River State Bonds Development Law for the financing of capital projects was not included or captured in the Appropriation Law of Cross River State of Nigeria.

5. The execution or implementation of the Cross River State Bonds Development Law will give the legal backing to the Cross River State of Nigeria to embark upon massive borrowing from Banks and financial institution which would capable of turning me and other people from the State into debtors.

6. My interest or well being as a father and citizen would be adversely affected from the Government of Cross River State of Nigeria becomes a chronic debtor and is unable to carry out its development programmes such as construction of roads, building and maintenance of schools, hospitals and health centres.

7. I know as a fact that the passage of the Cross River State Bonds Development Law and its execution by the Government of Cross River State would affect me personally as the Government levying taxes and levies in order to raise money to repay back the loans obtained from Banks and Financial Institutions as a result of the floating of the Development Bond.

8. I know as a fact that passage of the Cross River State Development Bonds Law did not go through the normal parliamentary scrutiny which Bills are usually subjected to before they are passed by the Cross River State House of Assembly such as First, Second, Third Readings and Committee before plenary session where they are passed into law before sending to the Governor of Cross River State for his ascension.

9. I know as a fact that passage of the Cross River State Development Bonds Law was shrouded in great secrecy and was even kept away from other members of the Cross River State House of Assembly by the Speaker of the House in collusion with the executive branch of the Government of Cross River State of Nigeria.

10. I know as a fact that the passage of the of the Cross River State Development Bonds Law is a guise by the Government of Cross River State of Nigeria to borrow massively from the capital market to embark on fivioloius projects that will not benefit the people of the State but in the long run hurt my interest and that of other people from the State but the time comes for the repaying of the loan.

11. I know as a fact that the Government of Cross River State of Nigeria is already heavily indented to Banks and other financial institutions and is indeed adjudged as the third highest Debtor State in the Federation of Nigeria.

12. I know as a fact that the Government of Cross River State of Nigeria that some of the loans collected by the Government of Cross River State of Nigeria were never judiciously managed and have ended been siphoned by the officialdom into private bank accounts to the detriment of the people of the State.

13. This affidavit is made in good faith conscientiously believing the facts contained herein to be true and correct in accordance with the Oaths Act, 2010.

———————-
DEPONENT

Sworn to at the registry of the High Court, Calabar, Cross River State, Nigeria, this day of September, 2014

BEFORE ME

COMMISSIONER FOR OATHS

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One commentOn 40Billion Bond: Obla Sues Cross River Government

  • Globally, intellects are seeking ways of contributing their acquired knowledge and expertise in the socio economic development of their state.”Government”
    In CRS Okoi Obono Obla seeks continues negative propaganda of Govt difficult exploration to seeking fund in the development of the state.
    Okoi, the world runs on credit” capitalist. The united state as a world power trades on china’s debt.
    China stepped up its purchases of U.S. government debt late last year, increasing its holdings of Treasurys to an all-time record of $1.317 trillion.
    The same U.S. debt in Japan, is $1.186 trillion from $1.174 trillion.
    Yet America remains the world power fighting for global peace and stability. A destination for every freedom seeking folk.
    CRS over the years is struggling to arrive at a more convenient way of resolving the pending debt at the same time fund capital projects. Her responsibility quite clearly has made CRS an admirable destination.
    Your uncle stop seeking financial help from you long ago because his pension now sustains a bit of his need.”courtesy CRS GOVT”
    Your aunty goes for free Antenatal care right there in yakur.
    As a learned Gent, with a couple of national honours and western exposure I suppose you haven’t contributed your knowledge to CRS.
    Young folks like us will like to trade upon the benevolence you have shown to CRS and not the negative attack every now and again.
    Govt in the 21st century is everyone’s responsibility hence bill gate until now has donated 28billion dollars to global governance.
    Hence Kanu Agabi a lawyer like us have given full three storey building at Mabuchi Abuja free to CRS lawyers to occupy.
    Apparently, it’s govt responsibility to maintain her infrastructures, social works pursue trendy development to conform with the new world demand to the benefit of you and i.Government won’t sleep until her responsibility is ascertain to the primary benefit of now and the future which relies more of the credit facility of today.
    Support the government with your ideas try to picture some of the government efforts that has been of immense help and be kind enough to stop driving at negativity other than joining the coalition for the state development.
    Think about it.

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