Fi­nan­cial reck­less­ness: Sanusi knows fate May 12

Daily Trust - - NEWS - From Mo­hammed Shosanya,La­gos

A La­gos Federal High Court yes­ter­day fixed May 12 for judg­ment in a suit in­sti­tuted by the sus­pended Gover­nor of Cen­tral Bank of Nigeria (CBN), Sanusi Lamido Sanusi, chal­leng­ing the le­gal­ity of the Fi­nan­cial Reporting Coun­cil of Nigeria to in­ves­ti­gate al­le­ga­tion of fi­nan­cial reck­less­ness lev­elled against him.

Jus­tice John Tsoho ar­rived at the date af­ter Sanusi’s lawyer, Kola Awodein and FRC’s coun­sel , Ade­se­gun Aji­bola, adopted and ar­gued their re­spec­tive cases.

Sanusi, who joined the Fi­nan­cial Reporting Coun­cil of Nigeria and the Ex­ec­u­tive Sec­re­tary of the Coun­cil, Jim Obaze, as first and sec­ond re­spon­dents re­spec­tively, is al­leg­ing in the suit that apart from the fact that the prin­ci­ple of fair hear­ing was ig­nored, he was nailed be­fore the com­mence­ment of the in­ves­ti­ga­tion against him.

Adopt­ing the ad­dress, Awodein ar­gued that the FRC lacked the power to carry out the wide rang­ing in­ves­ti­ga­tion into the books of CBN un­der Sanusi, as the probe was in breach of fun­da­men­tal rights to nat­u­ral jus­tice.

He re­called that in the brief­ing note, his client (Sanusi) was ac­cused of reck­lessly spend­ing about N20.2 bil­lion on egal and pro­fes­sional fees, but that N19.8 bil­lion of the sum was ac­tu­ally used to pay a judg­ment sum to some pen­sion­ers of CBN in a Supreme Court case filed by one Amao against the apex bank.

He de­nied that huge sums were paid as lo­cal flight fees to Emi­rates Air­line and Wings Avi­a­tion Limited, adding that a proper clar­i­fi­ca­tion would have been made had Sanusi been given fair hear­ing.

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