Central Bank sued over information on spending

Date: 04-06-2012 3:22 pm (12 years ago) | Author: Olufowose Temitope
- at 4-06-2012 03:22 PM (12 years ago)
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Citing indifference by the Central Bank of Nigeria (CBN) to his request for information, the President of the Progressive Shareholders Association (PSA), Mr. Boniface Okezie, has taken the apex bank to a Federal High Court, Lagos.

This move by Okezie, followed previous ones by Lagos-based rights group, the Socio-Economic Rights and Accountability Project (SERAP) and other interested Nigerians meant to compel government and its agencies to accede to requests for information.
These requests have been encouraged by the Freedom of Information (FOI) Act, signed into law last year by President Goodluck Jonathan.
In the suit commenced through an originating summons, Okezie wants the court to determine whether having regard to the provision of the FOI Act, 2011, the CBN (defendant) is not under obligation  to make available to him the information he requested in his letter of January 26, 2012, in which, he sought to know the cost to the apex bank, the government and people of Nigeria so far, of the banking reforms instituted by the CBN.

Particularly, the plaintiff wants to know the amount of legal fees and other fees paid and/or to be paid to professionals and professional bodies, and how much of the amount is paid to and/or to be paid to the law firms of Olaniwun Ajayi and Kola Awodein & Co.

The plaintiff also demanded to know the total sum paid to the law firm of Olaniwun Ajayi in respect of the prosecution of Mrs Cecilia Ibru, former Managing Director of Oceanic Bank Plc, and how much of this sum was in the form of commissions on the property recovered from her.

Other information sought by the plaintiff in his letter to the CBN, includes the total cash and value of property recovered from Cecilia Ibru, the whereabouts of the money and property recovered, and what part of this cash and property has been returned to Oceanic Bank and/or its shareholders.

The plaintiff is therefore in the summons filed by his counsel, Chuks Nwachukwu, seeking an order of the court directing the CBN to release to him   the above information as demanded in his January 26, 2012 letter, sent to the defendant (CBN) through his solicitor.

The originating summons was accompanied with a written address, one exhibit (a copy of the letter showing the acknowledgement by the defendant) and a seven-paragraph affidavit deposed to by one Kingsley Isicheli, a legal practitioner in the law firm of the plaintiff’s counsel.

Posted: at 4-06-2012 03:22 PM (12 years ago) | Upcoming

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