Nigeria: Financial Probe – Sanusi Wins Round Two

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It was another sweet victory for suspended governor of the Central Bank of Nigeria (CBN) as Justice John Tsoho of the Federal High Court in Lagos yesterday barred the Financial Reporting Council of Nigeria (FRCN) from further investigating him.

Justice Tsoho made this order while delivering judgment in a suit filed by the suspended CBN governor against the FRCN and its executive secretary, Jim Osanyade Obase.

The court described the action taken by the FRCN so far as biased, malicious, premeditated, frivolous, deliberately skewed, malafide and abuse of executive power.

The judge also held there is clear evidence that FRCN’s bid to investigate Sanusi’s tenure at CBN is tainted with bias and motivated by bad faith.

Justice Tsoho’s verdict is coming three months after the president, Goodluck Jonathan, suspended Sanusi on allegations of financial recklessness.

He has denied the allegations, saying he had followed approved procedures while doing his job.

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