By Innocent Anaba
A Federal High Court sitting in Lagos, yesterday adjourned indefinitely, further hearing in the suit by former Chief Executive Officer and Managing Director of Intercontinental Bank Plc., Dr Erastus Akingbola, who isÂ seeking to have his sack by Central Bank of Nigeria (CBN), reversed by the court.
Trial judge in the matter, Justice Ibrahim Auta, had toÂ adjourn the N50billion suit against the CBN and its Governor, Mallam Lamido Sanusi, following agreement by counsel in the matter that since the CBN had appealed an earlier ruling of the court to hear the preliminary objection alongside the substantive suit, it would serve the interest of justice to await the Court of Appeal’s decision on the matter.
The trial lower court, it will be recalled, had, in October, decided to hear both the substantive suit by Akingbola alongside the preliminary objections by the CBN and its Governor challenging the suit together, noting that hearing the two applications together wouldÂ save the time of the court and ensure an effective and factual determination of the case.
CBN had in the preliminary objection, argued that Akingbola lacked the locus standi to maintain the action and that the court should decline jurisdiction because the former bank chief disclosed no cause of action to warrant maintaining the suit.
But the CNB has appealed against the ruling of the court before the Court of Appeal, Lagos.
Akingbola, in the substantive suit, hadÂ applied for a judicial review of the CBNâ€™s decision to relieve him of his job as Intercontinental Bank’s MD and also claiming the sum of N50 billion as damages for his purported removal.