FOI: Supreme Court adjourns cross appeal against CBN to Oct. 6, 2020

Abuja – The Supreme Court on Monday adjourned a cross appeal
against the Central Bank of Nigeria (CBN) seeking to compel it to
disclose information under the Freedom of Information Act. Justice
Bode Rhodes-Vivour, who led four other Justices adjourned the case
to October 6, 2020 for hearing.

Mr Boniface Okezie, a shareholder in the defunct Oceanic Bank,
had filed the cross appeal urging the apex court to compel CBN to
disclose to him the total amount recovered from Mrs Cecilia Ibru, a
former Group Managing Director and Chief Executive Officer of the
bank after her removal over alleged corruption.

Okezie had asked the CBN to disclose the total cash and value of
properties recovered from the former Managing Director of the
defunct Oceanic Bank, Cecilia Ibru.

He averred that CBN as a public body, an agency of the
institution of the Federal Government of Nigeria created by law and
bound under the Freedom of Information Act 2011 should make
available to him the information requested for, but that the CBN in
breach of its duty, neglected, refused and failed to make the
information available to him despite acknowledging the receipt of
his letter.

Okezie stated that the Governor of CBN had been involved in free
and non-transparent spending of public funds even to the chagrin of
the National assembly: and that he also heard rumours that the
Governor of CBN and his associates have either embezzled,
misappropriated or otherwise dissipated the funds running into
hundreds of billions of Naira recovered from Cecilia Ibru and
cannot render account for them.

He also wants the apex court to order the CBN to disclose to him
the amount so far paid to two law firms Olanihun Ajayi and Kola
Awodein as legal fees from the money recovered from Ibru.

When the matter came up today, Okezie told the court that
although the CBN had withdrawn it’s own appeal in the matter, the
cross appeal he filed still subsists.

Some of the information he approached the apex court to compel
the CBN to make available to him include:

(a) The cost of Central Bank of Nigeria and the Government of
the people of Nigeria so far of the banking reforms instituted by
the Central Bank and particularly,

(b) The amount of legal fees paid and to be paid to
professionals and professional bodies,

(c) How much or the amount in (a) above represents fees paid and
to be paid to the firms of:

Olanihun Ajayi LP of Adunola, Plot 12, 401 Close Banana Island
Ikoyi, Lagos, Kola Awodein & CO. of 6th Floor UBA House, 57,
marina,Lagos.

(d) What is the total sum paid to the firm of Olaniwun Ajayi in
respect of prosecution of Cecilia Ibru, former Managing Director of
Oceanic Bank Plc, and how much of this sum was in the form of
commission on the property recovered from her.

(e) The total cash and value of properties recovered from
Cecilia Ibru.

(f) The whereabouts of the money and properties recovered.

(g) What part of this cash and properties has been returned to
Oceanic Bank and/or its shareholders

The Court of Appeal in Lagos had affirmed the verdict of a
Federal High Court in Lagos directing the Central Bank of Nigeria
(CBN) to disclose the total cash and value of properties recovered
from the former Managing Director of the defunct Oceanic Bank,
Cecilia Ibru.

The court also ordered the CBN to disclose the whereabouts of
the money and property recovered, and what part of this cash and
properties have been returned to Oceanic bank and its
shareholders.

However in its response, the CBN, contended that although it
received the letter of request of Okezie, the information requested
for relates primarily to the professional fees paid to two firms of
lawyers handling various matters for CBN and for which it was
advised by its legal department against releasing the requested
information as it would amount to a violation of the legal
Practitioner -Client privilege.

And that the information sought in the said application relate
to the contractual relationship and negotiation between the CBN and
legal practitioners and professionals engaged by it for their
services to the Bank.

If disclosed, it would adversely interfere with the contract and
the negotiations for services between the bank and those
professionals as it is a momentuous condition of the service by
those professionals to the bank that their remuneration shall never
be disclosed to any third party

On Oct. 2, 2012, the presiding Judge Mohammed Idris, in his
judgment refused to grant reliefs 1(a),(b) (c) and (d) whilst
reliefs (e),(f) and (g) were granted.

The two parties appealed the judgment, having been dissatisfied
with the order of the court, ordering it to disclose the total cash
and value of properties recovered from Cecilia Ibru.

The CBN later filed an appeal urging the court to upturn the
judgment of the Federal High Court.

In a similar manner, Okezie in his appeal, urged the appellate
court to grant the reliefs that the Federal High Court in Lagos
refused to grant. (NAN)