A Federal High Court in Lagos, yesterday, barred the Financial Reporting Council of Nigeria, FRCN, from investigating Lamido Sanusi, the suspended governor of Central Bank of Nigeria (CBN), a report on PREMIUM TIMES has disclosed.
The court frowned at what it described as the council’s “desperate goading” of the presidency to punish Mr. Sanusi over allegations of financial impropriety.
In his judgment, which lasted almost two hours, John Tsoho also declared that the Federal High Court has the jurisdiction to adjudicate on the matter brought before it by the suspended CBN governor.
The judge said that although the FRCN is saddled with ensuring good governance and accountability in financial circles, their posturing towards Mr. Sanusi shows that they are already prejudiced.
Mr. Tsoho also countered the FRCN’s argument that their recommendation to the presidency, made after their preliminary probe, was merely advisory. The judge said that it was obvious that they had already decided Mr. Sanusi’s fate, even before their investigation.
After his suspension from office last February, over allegations of financial recklessness, Mr. Sanusi had dragged the FRCN to the court to stop them from investigating his tenure as the apex bank’s boss.
He also sought a declaration that the FRCN does not have the power to constitute itself into an investigating body; that the body having already accused him of financial impropriety can no longer investigate him; and an order restraining the FRCN or any of its privies from conducting or continuing its investigation of him.
The judge declared all the issues sought in favour of the plaintiff (Mr. Sanusi) and granted all his reliefs.
