COURT TO CBN: Declare Whereabout of N191bn Forfeited by Cecilia Ibru In 72 Hours

COURT TO CBN: Declare Whereabout of N191bn Forfeited by Cecilia Ibru In 72 Hours


The Central Bank of Nigeria (CBN) has been given a 72 hours ultimatum by a Federal High Court in Lagos to declare the whereabouts of about N191bn asset forfeited by the convicted former Managing Director of Oceanic Bank Plc (now Ecobank Plc), Mrs. Cecilia Ibru.

The judgment delivered on Tuesday was on a suit instituted by the President of Progressive Shareholders Association, Mr. Boniface Okezie, seeking to compel the apex bank to release the information under the Freedom of Information Act.

In granting part of the reliefs sought in the suit, Idris also ordered CBN to declare “the total cash and value of properties recovered from Cecilia Ibru.”

He ordered the apex bank to declare “the whereabouts of the money recovered from Cecilia Ibru; and what part of this cash and properties has been returned to Oceanic Bank and/or its shareholders.”

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The Central Bank of Nigeria (CBN) has been given a 72 hours ultimatum by a Federal High Court in Lagos to declare the whereabouts of about N191bn asset forfeited by the convicted former Managing Director of Oceanic Bank Plc (now Ecobank Plc), Mrs. Cecilia Ibru.

The judgment delivered on Tuesday was on a suit instituted by the President of Progressive Shareholders Association, Mr. Boniface Okezie, seeking to compel the apex bank to release the information under the Freedom of Information Act.

In granting part of the reliefs sought in the suit, Idris also ordered CBN to declare “the total cash and value of properties recovered from Cecilia Ibru.”

He ordered the apex bank to declare “the whereabouts of the money recovered from Cecilia Ibru; and what part of this cash and properties has been returned to Oceanic Bank and/or its shareholders.”

Click here to subscribe to The Paradigm Newsletter

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