COURT ORDERS CBN TO DECLARE WHEREABOUTS OF N191BN FORFEITED BY CECILIA IBRU

A federal High Court in Lagos on Tuesday,October 2 gave the Central Bank of Nigeria 72 hours to declare the whereabouts of
about N191 billion asset forfeited by the former Managing Director
of Oceanic Bank Plc (now Ecobank Plc) Mrs Cecilia Ibru.Click on
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Justice Mohammed Idris gave the order in a judgement.The
judgement was on a suit instituted by the president of Progressive
Shareholders Association,Mr Boniface Okezie,seeking to compel
the apex bank to release the information under the Freedom of 
Information Act.

In granting part of the reliefs sought in the suit,Idrs also ordered
CBN to declare the total cash and value of properties recovered
from Cecilia Ibru an what portion of the cash and properties has
been refunded to Ocanic bank and or its shareholders.He said
the order must be complied with within 72 hours.He also ordered
the whereabouts of the properties and monies recovered be made
public.