Shonubi, Deputy, CCB, Acting Governor of the CBN, hauled to court over alleged failure to report assets

The Central Bank of Nigeria (CBN) Acting Governor Folashodun Shonubi and Deputy Governor Edward Adamu of the apex bank are being sued by a civil group called the Network Against Corruption and Trafficking Foundation (NACAT) in a Federal High Court in Abuja for allegedly failing to disclose their assets to the Code of Conduct Bureau (CCB).

The Chairman of the Code of Conduct Bureau has also entered into the lawsuit brought by Festus Keyamo Chambers, the group’s attorney, as a defendant.

The Freedom of Information (FOI) Act, 2011’s Sections 1(1) and (2) served as the foundation for the applicant’s lawsuit.

The group suing Shonubi specifically claims that he failed to disclose his interest in the following companies: Intameks Ltd. (RC13086); Kirby’s Place Resources Ltd. (RC1215845); The Pekaboo Company Ltd. (RC1395011); Ehlkuhile Investment Ltd. (RC857442); Iscopeng Ltd. (RC1431044); and Kilima Technologies Ltd. (RC1218250) in the suit dated August 25, 2023.

Furthermore, the petitioner claims that Adamu neglected to disclose his ownership stakes in the following companies: Global World Frontier Services Nig. Ltd. (RC772500), Elad Global Resources Limited (RC933366), and Pinnacle Solutions Network Ltd. (RC698688).

According to an affidavit supporting the original application submitted by Stanley Ugagbe, NACAT’s operational manager, the respondents had angrily refused to provide them with the materials.

According to Ugagbe, the second respondent, Ag, CBN Gov, is registered as a Director in the following Companies: Kilima Technologies Ltd., RC1218250; Ehlkuhile Investment Ltd., RC857442; Intameks Ltd., RC13086; Kirby’s Place Resources Ltd., RC1215845; The Pekaboo Company Ltd., RC1395011; and Iscopeng Ltd., RC1431044.

The third respondent, according to the deponent, is also identified as a director of the following companies: Global World Frontier Services Nig. Ltd. (RC772500), Elad Global Resources Limited (RC933366), and Pinnacle Solutions Network Ltd. (RC698688).

According to Ugagbe, the second and third respondents, who are acting as governor and deputy governor of the Central Bank of Nigeria, respectively, have statutory obligations as public officers to disclose any interests they may have in the aforementioned companies in their Asset Declaration Forms.

According to the records of the first respondent, the applicant is entitled, under the Freedom of Information Act, (FoI) 2011, to view the Assets and Liabilities Declaration Forms of the second and third respondents, which declare their holdings in the aforementioned entities.

“That the respondents failed, refused, or neglected to produce the aforementioned documents, despite the applicant’s demand for them to do so under the Freedom of Information Act, 2011; on these forms, the second and third respondents indicated their interests in the aforementioned companies.

In line with Section 1(3) of the Freedom of Information Act, the applicant claimed that the first and second respondents needed to be forced to grant the applicant’s request, and that this required the involvement of the court.

The petitioners based their requests on the fact that they had written letters to the respondents, dated July 3, 2023, and August 14, 2023, asking them to submit the aforementioned documents, but they had been ignored.

“Contrary to section 4(a) of the Freedom of Information Act, 2011, the respondents have failed, refused, and neglected to produce the said documents requested from them,” the attorney added.

The second and third respondents, as public officers, are required by law to disclose in their Asset Declaration Forms any interests they may have in the enterprises while holding their respective positions as Acting Governor and Deputy Governor of the CBN, according to the counsel’s submission.

NACAT presented itself as a non-governmental organisation and a civil society group that supported democracy. Among its goals were supporting international efforts to combat financial crimes, terrorism, corruption, and economic sabotage.

A hearing for the lawsuit has not yet been scheduled.