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Sanusi seeks court to stop financial reporting council from investigating him

04/04/2014 16:21

A Federal High Court in Lagos has fixed April 11 to hear a suit filed by Lamido Sanusi, suspended Central Bank of Nigeria governor, seeking to stop the Fiancial Reporting Council from investigating his tenure as CBN governor.

Sanusi  filed the suit through his counsel, Mr Kola Awodehin (SAN).

He is seeking a declaration that the FRC constituting itself into an investigating body in a manner contained in some newspaper publications of March 24 is ultra vires in its powers.

The FRC and its executive secretary are joined as the first and second defendants.

He is seeking a declaration that the conduct, actions and decision of the defendants were ultra vires.

He averred that the FRC's declaration in a briefing note dated June 7, 2013 and submitted to the President were ultra vires in their powers as contained in the FRC Act, 2011.

He also wants a declaration that the defendant, having reached a conclusion as to his culpability as CBN governor, indicated in the briefing note can no longer conduct any investigation on the same matter.

Sanusi, therefore, sought an order restraining the defendants or any person, body, agent, or privies, under its authority, or pursuant to the FRC Act, from conducting and continuing with investigation or inquiry as advertised.

Meanwhile, the defence also filed a preliminary objection, challenging the jurisdiction of the court to hear the suit.

Justice James Tsoho, presiding over the case, said he would hear the defendant's objection and the plaintiff's motion together.

Tsoho, however, ordered that the status quo should be maintained until the suit was determined.

"It is hereby ordered that status quo as at the time of instituting this suit should be maintained until it is determined," he said.

He adjourned the case to April 11 for hearing.

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