Mr. Sanusi was removed as CBN head by the president on February 20, days after he accused the government of failing to account for $20 billion oil money.
While investigations into the allegations were ongoing, the president suspended the outspoken former banker, accusing him of "financial recklessness".
The former CBN boss then headed to the Federal High Court, Abuja, to challenge his removal. Justice Gabriel Kolawole, on May 20, however declined jurisdiction over the case and transferred it to the National Industrial Court.
But at the resumed hearing of the matter on Friday, Mr. Sanusi's lawyer, Kola Awodein (SAN), sought adjournment to enable him consult his client over whether to proceed with the case or not.
Mr. Awodein explained that between the last adjourned date and today (Friday), some developments had occurred relating to Mr. Sanusi (ostensibly his coronation as Emir) which necessitated his lawyers consulting him on what should become of the matter.
Sources close to Mr. Sanusi said he would most likely ask his lawyers to discontinue the case as the matter has been overtaken by events.
President Jonathan's lawyer, Mike Ozekhome (SAN), did not object to Mr. Awodein's application.
Mr. Ozekhome said Mr. Sanusi's lawyer informed him before the court proceedings commenced that he would ask for time to enable him to consult his client.
Justice Babatunde Adejumo thereafter adjourned the matter till July 4 to allow parties in the case time to reach amicable resolution.
"I will strongly commend, by virtue of the provision of this court's establishment Act, that parties seek amicable way of resolving this dispute," Justice Adejumo said.
"In industrial and employment relations the court is not concerned about the consequence of its pronouncement on parties alone, but on the entire society.
"In consulting with their clients, counsel should know what to say to contribute to the effort to ensure amicable settlement."
Mr. Sanusi was named emir on Sunday but only moved into his palace on Friday (today) after the police lifted a presidency-ordered siege on the complex.
PREMIUM TIMES had earlier reported how Mr. Sanusi personally spoke to the President, apologising for whatever "sin" he had committed so that he would be allowed access to his palace.