Nigeria: Court Orders CBN to Account for Ibru's Seized Assets

3 October 2012

A Federal High Court sitting in Lagos, has ordered Central Bank of Nigeria, CBN, to account for assets both cash and property forfeited by sacked Managing Director of Oceanic Bank, Mrs. Cecilia Ibru within 72 hours.

Trial judge, Justice Mohammed Idris, who made the order, yesterday, in his judgment in a suit by President of Progressive Shareholders Association of Nigeria, PSAN, Mr. Boniface Okezie, directed CBN to account for the whereabouts of the money and the property.

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