The Supreme Court on Monday adjourned a cross appeal against the Central Bank of Nigeria seeking to compel it to disclose information under the Freedom of Information Act.
Justice Bode Rhodes-Vivour, who led four other justices, adjourned the case until October 6, 2020 for hearing.
A shareholder in the defunct Oceanic Bank, Mr. Boniface Okezie, had filed the cross appeal urging the apex court to compel CBN to disclose to him the total amount recovered from Mrs. Cecilia Ibru, a former Group Managing Director and Chief Executive Officer of the bank, after her removal.
Okezie had asked the CBN to disclose the total cash and value of properties recovered from Ibru.
He averred that CBN, as a public body, an agency of the institution of the Federal Government of Nigeria created by law and bound under the Freedom of Information Act 2011 should make available to him the information requested, but that the CBN in breach of its duty had neglected, refused and failed to make the information available to him despite acknowledging the receipt of his letter.
He also wants the apex court to order the CBN to disclose to him the amount so far paid to two law firms — Olanihun Ajayi and Kola Awodein — as legal fees from the money recovered from Ibru.
When the matter came up on Monday [today], Okezie told the court that although the CBN had withdrawn its own appeal in the matter, the cross appeal he filed still subsists.
Some of the information he approached the apex court to compel the CBN to make available to him include:
(a) The cost of Central Bank of Nigeria and the Government of the people of Nigeria so far of the banking reforms instituted by the Central Bank and particularly,
(b) The amount of legal fees paid and to be paid to professionals and professional bodies,
(c) How much or the amount in (a) above represents fees paid and to be paid to the firms of:
Olanihun Ajayi LP of Adunola, Plot 12, 401 Close Banana Island Ikoyi, Lagos, Kola Awodein & Co. of 6th Floor UBA House, 57, Marina,Lagos.
(d) What is the total sum paid to the firm of Olaniwun Ajayi in respect of prosecution of Cecilia Ibru, former Managing Director of Oceanic Bank Plc, and how much of this sum was in the form of commission on the property recovered from her.
(f) The whereabouts of the money and properties recovered.
(g) What part of this cash and properties has been returned to Oceanic Bank and/or its shareholders
The Court of Appeal in Lagos had affirmed the verdict of a Federal High Court in Lagos directing the CBN to disclose the total cash and value of properties recovered from the former Managing Director of the defunct Oceanic Bank, Cecilia Ibru.
The court also ordered the CBN to disclose the whereabouts of the money and property recovered, and what part of this cash and properties had been returned to Oceanic Bank and its shareholders.
However, in its response, the CBN contended that although it received Okezie’s letter, the information requested related primarily to the professional fees paid to two firms of lawyers handling various matters for CBN and for which it was advised by its legal department against releasing the requested information, as it would amount to a violation of the legal practitioner-client privilege.
And that the information sought in the said application related to the contractual relationship and negotiation between the CBN and legal practitioners and professionals engaged by it for their services to the Bank.
If disclosed, it would adversely interfere with the contract and the negotiations for services between the Bank and those professionals as it is a momentuous condition of the service by those professionals to the Bank that their remuneration shall never be disclosed to any third party
On October 2, 2012, the presiding Judge, Mohammed Idris, in his judgment refused to grant reliefs 1(a),(b) (c) and (d), whilst reliefs (e),(f) and (g) were granted.
The two parties appealed the judgment, having been dissatisfied with the order of the court ordering it to disclose the total cash and value of properties recovered from Cecilia Ibru.
The CBN later filed an appeal urging the court to upturn the judgment of the Federal High Court.
In similar manner, Okezie, in his appeal, urged the appellate court to grant the reliefs that the Federal High Court in Lagos refused to grant. (NAN)
