Premium Times (Abuja)

12 May 2014

Nigeria: Sanusi Floors Nigerian Government As Court Rules Against FRCN

Photo: The Vanguard
Central Bank Governor, Sanusi Lamido

A Federal High Court in Lagos has barred the Financial Reporting Council of Nigeria, FRCN, from investigating Lamido Sanusi, the suspended governor of Central Bank of Nigeria, CBN.

Delivering judgment on Monday, Justice John Tsoho said that although the FRCN is saddled with ensuring good governance in financial matters, their posturing shows that they are already prejudiced.

The judge countered the FRCN's argument that their recommendation to the presidency was merely advisory. He said it was obvious that they had already decided Mr. Sanusi's fate, even before their investigation.

"The language of the briefing note (transmitted by the FRCN to the presidency) conveys a sense of the defendant desperately goading the presidency to deal with the plaintiff," Judge Tsoho said.

"The plaintiff submitting himself for investigation (by FRCN) is like the cockroach finding itself in the midst of fowls. Such a cockroach cannot be innocent," he added.

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InFocus

Nigeria's Sanusi Wins Round Two in Court Case

Central Bank Governor, Sanusi Lamido

A Lagos Federal High Court has upheld the suit of suspended governor of the Central Bank of Nigeria Sanusi Lamido Sanusi, challenging the power of the Financial Reporting Council ... Read more »