“We Have Rights”: Group Drags Acting CBN Governor Shonubi to Court, Makes Demands
- The Central Bank of Nigeria's new acting governor, Folashodun Shonubi, has another headache aside from fixing the naira exchange rate
- A group has dragged him and one other director to the federal high court over the declaration of assets
- Shonubi took over from Godwin Emefiele as the CBN boss as part of the ongoing reforms by President Bola Tinubu
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The Network Against Corruption and Trafficking Foundation (NACAT) has taken legal action against Folashodun Shonubi, the current Acting Governor of the Central Bank of Nigeria (CBN), and Edward Adamu, a Deputy Governor of the CBN.
The allegations pertain to their failure to adhere to the asset declaration requirements set by the Code of Conduct Bureau (CCB).
Source: Facebook
A lawsuit filed on August 25, 2023, before the Federal High Court in Abuja marked FHC/ABJ/CS/1182/2023 also names the Code of Conduct Bureau Chairman as a defendant.
The legal proceedings are based on Section 1(1) and (2) of the Freedom of Information (FOI) Act, 2011, Vanguard reports.
Details of the lawsuit
NACAT is in pursuit of documents related to allegations of Shonubi's failure to disclose interests in specific companies, such as Intameks Ltd (RC13086), Kirby's Place Resources Ltd (RC1215845), The Pekaboo Company Ltd (RC1395011), Ehlkuhile Investment Ltd (RC857442), Iscopeng Ltd (RC1431044), and Kilima Technologies Ltd (RC1218250).
Additionally, the organisation is requesting the assets and declaration forms of Adamu about firms like Pinnacle Solutions Network Ltd (RC698688), Elad Global Resources Limited (RC933366), and Global World Frontier Services Nig. Ltd (RC772500).
NACAT defends action
Supporting the motion with an affidavit, Stanley Ugagbe, NACAT's operational manager, indicated that the respondents had denied access to the requested documentation. Ugagbe further asserted that Shonubi and Adamu were listed as directors in several companies mentioned.
Ugagbe argued that the second and third respondents, who hold public office positions, are legally obliged to declare their interests in these companies according to their roles as Acting Governor and Deputy Governor of the CBN.
NACAT contends that, by the Freedom of Information Act 2011, it possesses the right to obtain these declaration forms.
"It is within our right to demand the declaration form."
The group argued that this action violates section 4(a) of the Freedom of Information Act, 2011.
CBN reacts
When contacted to provide clarification, Isa Abdulmumin, CBN's acting director of corporate communications, told Legit.ng that the matter is now for the court to decide.
He said:
"Everyone has the right to go to the court and file a case"
CBN announces dollar to naira price verification portal
Meanwhile, in another report, it was revealed that the Central Bank of Nigeria had introduced a new portal that will put an end to malpractices in the foreign exchange market.
The portal is set to go live by the end of August 2023, and it is expected to be a game-changer if done correctly.
Source: Legit.ng
