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Court Summons Sanusi Over Sale Of Intercontinental Bank

More trouble appears to be brewing for the suspended governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, as a Federal High Court … Continue reading Court Summons Sanusi Over Sale Of Intercontinental Bank


The Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi addressing journalist after a Monetary Policy Committee meeting in Abuja on Monday, 21 January 2013

sanusi_lamidoMore trouble appears to be brewing for the suspended governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, as a Federal High Court sitting in Abuja has ordered the suspended governor to appear before it in a suit filed by some aggrieved shareholders of defunct Intercontinental Bank of Nigeria.

Ruling on an ex parte application filed by Mr Chris Uche on behalf of one Abdullahi Sani and two others, Justice Abdulramat Mohammed ordered the service of the originating summons on any adult in the office of the governor of the Central Bank of Nigeria on the notice board of the bank.

The plaintiffs, in their originating summons supported by a seven-paragraph affidavit want the court to determine whether the suspended governor, Lamido Sanusi did not act fraudulently by deliberately strangulating the banking operations of Intercontinental Bank to the detriment of the plaintiffs as shareholders.

They are therefore praying the court to declare the sale of Intercontinental Bank by Mr Lamido Sanusi as unlawful, fraudulent and of no legal effect whatsoever.

Joined in the suit as defendants, are the Central Bank of Nigeria and Securities and Exchange Commission.

Justice Mohammed subsequently fixed the suit for May 14.