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Home > Stanley Ugagbe
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Stanley Ugagbe

Acting CBN governor, Deputies sued over refusal to declare assets leading Reporters
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Acting CBN governor, Deputies sued over refusal to declare assets

by Leading Reporters August 28, 2023
written by Leading Reporters

The Network Against Corruption and Trafficking Foundation (NACAT) has taken legal action against Mr Folashodun Shonubi, the acting Governor of the Central Bank of Nigeria (CBN), and Mr Edward Adamu, a Deputy Governor at the bank.

LeadingReporters learned that NACAT alleged that both individuals failed to declare their assets to the Code of Conduct Bureau (CCB).

The lawsuit, filed in a Federal High Court in Abuja by NACAT’s legal representative, John Ainetor of Festus Keyamo Chambers, also names the Chairman of the Code of Conduct Bureau as a defendant.

The basis for the lawsuit is Section 1(1) and (2) of the Freedom of Information (FOI) Act, 2011.

The lawsuit was designated as FHC/ABJ/CS/1182/2023 and is dated August 25, 2023.

An affidavit accompanying the initial motion ex parte, sworn by Stanley Ugagbe, the operational manager of NACAT, asserted that the respondents adamantly declined to reveal certain documents.

According to Ugagbe, in their roles as public officials, the second and third respondents are legally obligated to declare any interests they hold in specific companies when taking up their positions as acting Governor and Deputy Governor.

What he said

He said:

  • “The applicant has a right under the Freedom of Information Act, 2011, to access the Assets and Liabilities Declaration Forms of the second and third respondents in the records of the first respondent, concerning the declaration of the second and third respondents’ interests in the said companies.
  • “The applicant has made a demand under the Freedom of Information Act, 2011 to the respondents for them to produce the Assets and Liabilities Declaration Forms, where the second and third respondents declared their interests in the said companies, but the respondents failed, refused and neglected to produce the said documents.”

The applicant argued that court intervention was necessary to enforce the request made to the first and second respondents, in line with Section 1 (3) of the Freedom of Information Act.

The applicant’s requests were based on the fact that it had previously sent letters on July 3, 2023, and August 14, 2023, seeking the documents from the respondents, but they declined to comply.

The Acting Governor of the Central Bank of Nigeria (CBN), Mr. Folashodun Shonubi and a Deputy Governor of the CBN, Mr. Edward Adamu have been dragged before a Federal High Court in Abuja, over their alleged failure to declare their assets to the Code of Conduct Bureau (CCB).

The other defendant in the suit filed by the Network Against Corruption and Trafficking Foundation (NACAT), was the Chairman, Code of Conduct Bureau (CCB).

The applicant premised the suit on the strength of Section 1(1) and (2) of the Freedom of Information (FOI) Act, 2011.

The Acting Governor, CCB Chairman and the Deputy Governor were 1st, 2nd and 3rd respondents in the suit marked: FHC/ABJ/CS/1182/2023 and dated August 25, 2023.

Specifically, the group is requesting for the documents wherein Shonubi deliberately refused to declare 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.

Similarly, the applicant is demanding the assets and declaration forms of Adamu, wherein he failed to declare his interest in the following Companies: Pinnacle Solutions Network Ltd – RC698688; Elad Global Resources Limited – RC933366 and Global World Frontier Services Nig. Ltd – RC772500.

An affidavit in support of the originating motion ex parte deposed to by Stanley Ugagbe, the operational Manager of NACAT stated that the respondents had vehemently refused to avail them of the documents.

Ugagbe, averred that the 2nd Respondent was listed as a Director 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.

Also, the deponent claimed that the 3rd Respondent was listed as a Director in the following Companies: Pinnacle Solutions Network Ltd – RC698688; Elad Global Resources Limited – RC933366 and Global World Frontier Services Nig. Ltd – RC772500.

As public officers, Ugagbe stated, the 2nd and 3rd Respondents have statutory obligations to declare in their Asset Declaration Forms, the interests they have in the above-named companies, while assuming their respective offices as acting Governor and Deputy Governor of the CBN.

“That the applicant has a right under the Freedom of Information Act, 2011, to access the Assets and Liabilities Declaration Forms of the 2nd and 3rd Respondents, in the records of the 1st Respondent, with respect to declaration of the 2nd and 3rd Respondents’ interests in the said companies.

“That the applicant has made demand under the Freedom of Information Act, 2011 to the respondents, for the Respondents to produce the Assets and Liabilities Declaration Forms where the 2nd and 3rd Respondents declared their interests in the said Companies, but the Respondents failed, refused and neglected to produce the said documents.

“The applicant submitted that it needed the intervention of the court to compel the 1st and 2nd respondents to grant the request of the Applicant, in accordance with Section 1 (3) of the Freedom of Information Act.”

The applicants predicated their prayers on the ground that they had written letters dated 3rd July, 2023, and 14th August, 2023, requesting the Respondents to produce the said documents but they refused.

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

As public officers, the counsel submitted that the 2nd and 3rd Respondents have statutory obligations to declare in their Asset Declaration Forms, the interests they have in the above stated companies, while assuming their respective offices as Acting Governor and Deputy Governor of the CBN.

NACAT is a non-governmental organisation, a pro-democracy civil society organisation, whose objectives include contributing to the global war against corruption, financial crimes, terrorism and economic sabotage.

Alex Enumah in Abuja

August 28, 2023 0 comments
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