Adroit Analytica Hub

06/04/2024

Illuminating.

The Naira and the Law The Mummy of Lagos Saga

The Economic and Financial Crimes Commission (EFCC) announced the arrest of Lagos socialite and crossdresser, Idris Okuneye better known as Bobrisky, for abusing naira notes on the 4th of April, himshe was arraigned at the Federal High Court Sitting in Lagos on the 5th of April, 2024 wherein a six count charge was read to himshe. Away from that, here are a few helpful tips you should know about the Naira before you start spraying money in that Owambe, Child's dedication, naming ceremony etc.

Firstly, the CBN is responsible for the issuance of the Naira and kobo (Sections 17, 18 and 19 CBN Act).

It is against the law for any individual or establishment outside the Central Bank of Nigeria, to print money or be in possession of counterfeit notes. If you are caught and convicted of a counterfeiting crime, you may face up to five (5) years imprisonment with no option of fine (Section 20).

Abuse of the Naira
Spraying: It is against the law to spray the Naira banknotes at occasions.

Writing: It is against the law to write on banknotes.
Stapling: It is against the law to staple the banknotes as the pins can cause corrosion of the banknotes.

Tearing: It is also against the law to tear the banknotes

Soiling: It is against the law to dance/stamp on the Naira banknotes. Do not stain the banknotes with oil or ink, as this is also a form of defacing.

Sale: It is against the law to sell currency banknotes.
Mutilation: A person who tampers with the Naira note or coin is guilty of an offence, punishable by law (CBN Act Section 21).

It is against the law to reject the Naira (Section 20 subsection 5 CBN Act).

Implications of Improper Handling of the Naira
Increase in currency management costs due to the high cost of banknotes replacement.

Defaced/torn banknotes slow down sorting process resulting in lower output of clean banknotes.
Erodes the sense of pride and confidence that Nigerians should feel in their currency.

Any form of defacement of the currency is a form of ridicule on the nation.
Prevalence of dirty banknotes in circulation is a potential health hazard to the citizenry.

I hope these illuminate you further on the use and handling of the Naira notes...

22/09/2023

22/09/2023

SO "NEXT OF KIN" IS USELESS IN THE BANK.

THE REAL THING NEEDED IN THE BANK IS

👇👇

*IF YOU DIE TODAY, YOUR "NEXT OF KIN" WILL NOT HAVE ANY ACCESS TO THE MONEY IN YOUR ACCOUNT!!!

*So Many Nigerians Think That Their Next Of Kin Is The Automatic Heir To Their Accounts. But The TRUTH Is That If Your Next Of Kin Is Not A Signatory To Your Account, And You Don’t Have A Written Will To Determine That Person’s Legitimacy, The Person Will Not Have Access To That MONEY At All. Your Bank Will Have To Go Through A Process Called A LEGAL PROBATE.

This Probate Period Helps Them Determine Who Gets The MONEY In Your Account. This Is A Very Lengthy And Expensive Process. Even After The Whole Process Is DONE, Your FAMILY Will Have To FOREFEIT Some REASONABLE Amount Of The MONEY For LEGAL FEES.

But If You Want To Avoid This, Simply Request For Your Bank To Give You Something Called A POD Form. POD Stands For "PAYABLE ON DEATH". The Name Of The Person You Fill In That POD Form Will Determine Who Will Get Your MONEY. All The Person Needs To Bring Is A Death Certificate To Get That MONEY Out.

With A POD Form, You Will Save Your FAMILY The Stress Of Going Through All That Lengthy Legal Process And Even Losing Some MONEY To The Law.

I Just Thought, I Should Let You Have a Record Of This Important Information.

© Caroline Paul

22/09/2023

Illuminating

20/09/2023

Know your rights.

01/07/2023

PHISHING (Part 2)

Phishing scam email message
Phishing was one of the first types of online scams to gain attention and traction. Although it’s been around for much longer and many people know about it, it’s still a common way for scammers to acquire sensitive information. Although the goal is the same, there is a key difference between smishing vs. phishing.
Phishing uses emails instead of text messages to trick recipients into providing personal information. Attackers often send out an email to dozens of recipients simultaneously, hoping someone will open the embedded link and provide sensitive information.

While an email blast like this is the most common form of phishing, there are cases of targeted attacks where the scammer will choose a specific recipient based on social or financial status. This type of attack usually includes a detailed message that seems like it’s meant specifically for you. It often urges you to click a time-sensitive link or visit a specific URL.

Once you click an embedded link or visit a dangerous URL, a prompt will likely encourage you to enter information such as your full name, social security number, bank account information, and more. This could lead to identity fraud and theft.
Another way scammers use phishing is by encouraging you to click on a link or URL through the email. Once you do either, the computer or smartphone could automatically download harmful software that allows scammers to access your personal information.
If you receive a suspicious email from an address you don’t recognize, do not open the email. If you open an email and realize you don’t know the sender or it seems suspicious, immediately delete it and avoid clicking on any pictures, links, or URLs.

A great way to prevent these attacks from happening to you is by utilizing services and software like HP Wolf Security. You can rest easy knowing that this security system works in the background while you handle your day-to-day tasks, emails, and messaging.

15/06/2023

The Confines of CyberLaw and the Role of Lawyers:

Cyber crime appertains (to) offences involving cyberspace, computers and other electronic information storage devices, such as data interference, illegal interception, illegal access, phishing and the misuse of devices. In Nigeria, the "Cybercrimes (Prohibition and Prevention) Act, 2015" has a significant impact on cyber law in Nigeria. The Act creates a comprehensive legal, regulatory, and institutional framework in Nigeria to prohibit, prevent, detect, prosecute, and punish cybercrime. The Act also encourages cyber security and protection of computer systems and networks, electronic communications, data and computer programs, intellectual property, and privacy rights, as well as the protection of important national information infrastructure.

CYBER SECURITY

Cyber security law is defined as the law that prevents criminal activities related to cyberspace or the cyber world. With this, cyber security helps to shield businesses, government and people that might be susceptible to cyber crime. Cyber security seeks to address weaknesses in computers and networks. The International Cyber security Standard is known as ISO 2700. The intent of this law is to improve transmission of data over the internet while keeping it safe.

THE ROLE OF CYBER LAWYER

As field of cyber security law evolves, so the requirements will change as new cyber threats emerge. But the bottom line of being an excellent cyber security lawyer is understanding and interpreting laws and statutes well.

Cyber security lawyer, to be successful, must have the following:

A full grasp of how government works

Thorough knowledge of litigation

Understanding of the client’s internal practices

The role of a cyber-lawyer is to help clients resolve the issue or navigate related cyber law litigation. Another crucial role of cyber lawyers is to assist clients to develop best practices for conducting business and personal affairs. For example, a cyber-lawyer representing a hospital may assist them in implementing measures to comply with privacy rules while still protecting personal information. Cyber lawyers also assist organizations in maintaining client confidentiality in accordance with federal, state, and local laws.

Cyber lawyers practice in a broad range of areas and expertise. They both work in private practice and for the federal government. A cyber security lawyer must also be duly engaged in the drafting and evaluation of contracts that involve data sharing and information transfer on the internet. The lawyer should include approved and established cyber security and technology-related clauses that benefit all parties involved.

Why You Need a Cyber Lawyer in Nigeria?
Cyber lawyers practice in a wide range of areas and expertise. They work in small, medium, and large businesses. They both work in private practice and for the federal government.

Cyber Lawyers may practice criminal law or work for an organization that develops and enforces civil laws. They can also work for organizations that enforce cyber laws and assist the public in using the internet safely.

If a client has a dispute over a cyber contract or domain use, they can turn to their cyber lawyer to help them resolve the issue or navigate related litigation. Because of the jurisdictional issues that may arise in cyber law, lawyers who assist their clients with cyber lawsuits may need to work carefully to develop their case.

Another crucial role of cyber lawyers is to assist clients to develop best practices for conducting business and personal affairs. For example, a cyber lawyer representing a hospital may assist them in implementing measures to comply with privacy rules while still protecting personal information. Cyber lawyers also assist organizations in maintaining client confidentiality in accordance with federal, state, and local laws.

The content of this article is intended to provide a general guide on the subject matter. Specialist advice should be sought in relation your specific circumstances.
For information please contact our Cyber Legal Team Lead +234 802 905 9344