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Court dismisses Ibru’s suit against CBN over sack

By  Ise-Oluwa Ige

ABUJA—A Federal High Court sitting in Abuja yesterday terminated a N50 billion lawsuit instituted by the ex-managing director of Oceanic Bank International Plc, Mrs. Cecilia Ibru, against the Governor of the Central Bank of Nigeria (CBN), Mr Lamido Sanusi and two others over her sack.

In the suit, Ibru was praying the court to issue an order reinstating her; a separate order barring Mr. John Aboh from parading himself as the new MD/CEO of the bank and an order sanctioning Sanusi for allegedly sacking her illegally, among others.

The trial high court judge, Justice Dan Abutu, who struck out the suit, following a notice filed in court by Ibru to discontinue the case, also awarded N10,000 cost against her in favour of the defendants. Besides Sanusi, also named in the suit were CBN and Aboh.

Unconfirmed reports said Ibru directed her lawyers, led by ex-Attorney-General of the Federation, Chief Akinlolu Olujinmi (SAN), to discontinue the case following alleged fresh discovery by CBN of dirty shady deals by her in the bank while she held sway. Others on the team that filed and discontinued the suit yesterday were Chief Adeniyi Akintola (SAN) and Mr.Wale Akoni (SAN).

But, a credible source close to Ibru, yesterday told Vanguard that  the ex-bank chief filed the notice of discontinuance in court to enable her change counsel and amend the originating processes.

The source mentioned Pro. Taiwo Osipitan (SAN), as the new lead counsel for the embattled ex-bank chief.
Vanguard, indeed, sighted Osipitan in court about 24 hours before the matter was officially withdrawn.

Although he confirmed that he was in court to know the status of the case but did not confirme if  he was going to file a fresh suit.

A close associate of  Osipitan, however, told Vanguard that the silk had advised the bank chief to withdraw the case from court because the matter was more political than legal and that the best way out would be a political solution.

A team of seasoned lawyers led by Mr. Kola Awodehin (SAN) and Chief Emeka Ngige (SAN), hired by CBN to represent it and its governor in the case, said it was ready to open legal fire on Ibru anytime she is ready to come to court.

The Nigerian Economic Summit Group (NESG) is an independent, non partisan private sector led economic think thank organization that has provided a forum for private and public sector leaders to foster open and continuous dialogue on Nigeria’s economic development.

In sixteen years of its existence, it has emerged as the most credible platform for public private dialogue on economic issues in Nigeria and has worked with the Federal and State Governments to continuously define and facilitate the implementation of an economic agenda that will help create an environment conducive to good governance, responsible private sector investment and sustainable private sector-driven economic growth and development.


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