“DECLARE WHEREABOUTS OF FORFEITED N191 BILLION BY CECILIA IBRU”- COURT ORDERS CBN

Posted: October 2, 2012 in Finance, News
Tags: , , , , ,

A Federal High Court, Lagos on Tuesday gave the Central Bank of Nigeria 72 hours to declare the whereabouts of about N191bn asset forfeited by the convicted former Managing Director of Oceanic Bank Plc (now Ecobank Plc), Mrs. Cecilia Ibru.

Justice Mohammed Idris  gave the order in a judgment on Monday.

The judgment was on a suit instituted by the President of Progressive Shareholders Association, Mr. Boniface Okezie, seeking to compel the apex bank to release the information under the Freedom of Information Act.

In granting part of the reliefs sought in the suit, Idris also ordered CBN to declare “the total cash and value of properties recovered from Cecilia Ibru.”

He ordered the apex bank to declare “the whereabouts of the money recovered from Cecilia Ibru; and what part of this cash and properties has been returned to Oceanic Bank and/or its shareholders.”

He said the order must be complied with “within 72 hours.”

Source- The Punch

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s