Court stops Financial Reporting Council from investigating Sanusi, CBN ‎

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A Federal High Court in Lagos presided by Justice J. T. Tsoho today gave a preservatory order restraining the Financial Reporting Council of Nigeria, FRCN, from investigating the suspended Central Bank Governor, Lamido Sanusi.

The order was as a result of a suit filed by Mr. Sanusi’s counsel, Kola Awodehin.

Justice Tsoho in his ruling barred the FRCN from investigating Mr. Sanusi and the Central Bank, CBN, pending the determination of the suit.

Mr. Sanusi’s lawyers had told the court that by virtue of the provisions of Sections 7, 8, and 62 of the FRCN Act 2011, the Council lacked the statutory powers to investigate him and the CBN.
The council, after receiving Mr. Sanusi’s court papers last Thursday halted investigations of the bank chief but said it would continue with the CBN.

The original case was adjourned to April 11.

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