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Ibru seeks reversal of Oceanic Bank’s sale

Abuja—Mrs Cecilia Ibru, former Managing Director of the defunct Oceanic Bank International, yesterday, prayed an Abuja Federal High Court to reverse the sale of the bank to Ecobank Plc, and the takeover of Aero Contractors Ltd by the Asset Management Corporation of Nigeria, AMCON.

Cecelia Ibru
Cecelia Ibru

Ibru’s counsel, Dr. Ted Iseghohi-Edwards, argued that the bank and airline were not among the assets she forfeited to the Federal Government during her 2010 plea bargain with the government.

She had joined the Attorney-General of the Federation and the AMCON as co-defendants in the suit.

The plaintiff is, therefore, seeking a court order compelling the Federal Government to implement her plea bargain as specified in the agreement she signed with the government in 2010.


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