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Mon, Aug 28, 2023 12:25 AM

NACAT Sues CBN Acting Governor and Deputy Governor for Failure to Declare Assets

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NACAT Sues CBN Acting Governor and Deputy Governor for Failure to Declare Assets
The Network Against Corruption and Trafficking Foundation (NACAT) has filed a lawsuit against the Acting Governor of the Central Bank of Nigeria (CBN), Mr. Folashodun Shonubi, and a Deputy Governor of the CBN, Mr. Edward Adamu, for their alleged failure to declare their assets to the Code of Conduct Bureau (CCB). NACAT is seeking the assets and declaration forms of the accused individuals and is urging the court to compel the respondents to produce the requested documents.

ABUJA - The Network Against Corruption and Trafficking Foundation (NACAT) has taken legal action against the Acting Governor of the Central Bank of Nigeria (CBN), Mr. Folashodun Shonubi, and a Deputy Governor of the CBN, Mr. Edward Adamu. This move comes after allegations that both officials failed to declare their assets to the Code of Conduct Bureau (CCB).

The lawsuit, filed by NACAT's legal counsel, Festus Keyamo Chambers, also implicates the Chairman of the Code of Conduct Bureau. The group bases its case on Section 1(1) and (2) of the Freedom of Information (FOI) Act, 2011. In the lawsuit with reference number FHC/ABJ/CS/1182/2023, dated August 25, 2023, NACAT is demanding the documents pertaining to the alleged failure of Mr. Shonubi to declare his interest in several companies.

These companies include 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. On the other hand, the group is also requesting the assets and declaration forms of Mr. Adamu, as they claim he failed to declare his interest in Pinnacle Solutions Network Ltd - RC698688, Elad Global Resources Limited - RC933366, and Global World Frontier Services Nig. Ltd - RC772500.

In the supporting affidavit, Stanley Ugagbe, the operational Manager of NACAT, stated that the respondents had vehemently refused to provide the requested documents. Ugagbe further revealed that Mr. Adamu is listed as a director in the aforementioned companies, while Mr. Shonubi is also listed as a director in other companies.

As public officers, both Mr. Shonubi and Mr. Adamu have a statutory obligation to declare their interests in these companies on their Asset Declaration Forms, especially while assuming their respective roles at the CBN. NACAT argues that they have the right, under the Freedom of Information Act, to access the Assets and Liabilities Declaration Forms of the accused individuals.

The group has previously made requests for these documents, through letters dated July 3, 2023, and August 14, 2023, but the respondents have allegedly refused to provide them. NACAT believes it is necessary for the court to intervene and compel the 1st and 2nd respondents to grant their request, as stated in Section 1 (3) of the Freedom of Information Act.

According to the lawsuit, the respondents' failure to produce the requested documents goes against Section 4 (a) of the Freedom of Information Act, 2011. NACAT emphasizes that as public officers, Mr. Shonubi and Mr. Adamu have a legal obligation to declare their interests in the aforementioned companies, given their prominent roles at the CBN.

NACAT, a non-governmental organization and pro-democracy civil society organization, is dedicated to fighting corruption, financial crimes, terrorism, and economic sabotage on a global scale. This lawsuit represents their commitment to holding public officials accountable and promoting transparency in governance.

Source of content: OOO News 2023-08-27 News

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