by Jewel Stephen

Poor Nigerians have a reason to be merry, especially the entreprenuerial ones, going by the ruling of a Federal High court, which stated that the Federal government must make available, loans for the middle and lower-class Nigerians.

The Federal Government has been instructed by a Federal High Court sitting in Lagos, to give loans to less privileged Nigerians through the Peoples Bank of Nigeria.

The case was championed by seasoned lawyer and human rights activist, Mr. Femi Falana, SAN, who 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, null and void, having regard to section 1 of Peoples Bank Act, Cap P7 Laws of the Federation of Nigeria, 2004.

The trial judge, Justice M Idris, while delivering his judgement held that the Peoples Bank Act, Cap P7 2004, had not been repealed by the National Assembly.

The court thereby 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.

Kolapo Olapoju