The 2012 verdict of a Lagos Federal High Court, ordering the Central Bank of Nigeria (CBN) to disclose the total value of cash and assets recovered from the former Managing Director of the defunct Oceanic Bank of Nigeria, Mrs. Cecilia Ibru was on Monday upheld by the Appeal Court.
In 2012, the high court had ordered the apex bank to disclose the whereabouts of the money and property.
It had also directed the CBN to disclose what part of the cash has been returned to Oceanic Bank and its shareholders.
The High Court ruling followed a suit filed by a Lagos-based lawyer, Mr. Chuks Nwachkwu, on behalf of Mr. Boniface Okezie, a shareholder of Oceanic Bank.
The lawyer, in an affidavit filed before the court had held that Okezie had asked the apex bank to make the information available to him, in a letter titled: Request for the Information Under the Freedom of Information Act 2011, addressed to the Governor of CBN.
He said the CBN refused despite acknowledging the receipt of his letter.
However, while affirming the lower court judgment, the appellate court, in a lead judgment delivered by Justice Biobele Abraham George, said:
“In the result, part of the judgment of the Federal High Court, Lagos division, Coram: M.B. Idris Justice, in suit number FHC/L/CS/494/2012, Mr. Boniface Okezie Versus The Central Bank of Nigeria delivered on 2/10/2012 wherein reliefs 1(e),(f) and (g) sought by Mr. Okezie were granted is hereby affirmed. Wherein reliefs 1(a),(b),(c) and (d) sought by Mr. Boniface Okezie were refused and dismissed.”
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