Politics

CBN Acting Governor, Deputy Dragged to Court for Alleged Asset Declaration Refusal

The Network Against Corruption and Trafficking Foundation (NACAT) has taken legal action against Folashodun Shonubi, the Acting Governor of the Central Bank of Nigeria (CBN), and Deputy Governor Edward Adamu, along with the Chairman of the Code of Conduct Bureau.

According to the Daily Post, the civil group, represented by Festus Keyamo Chambers, filed the suit under the Freedom of Information (FOI) Act, 2011. They allege that Shonubi and Adamu failed to declare their assets to the Code of Conduct Bureau, as required by Sections 1(1) and (2) of the FOI Act.

The suit, dated August 25, 2023, claims that Shonubi did not disclose his interest in certain companies and alleges that he holds directorial positions in some of them.

Stanley Ugagbe, NACAT’s operational manager, submitted an affidavit stating that the respondents did not provide the requested documents despite repeated requests.

He emphasized that, as public officers, both of them are obligated to declare their interests in their companies upon assuming their roles as Acting Governor and Deputy Governor of the CBN.

NACAT asserts its right to access the assets and liabilities declaration forms of the respondents under the FOI Act. The organization had previously written letters on July 3, 2023, and August 14, 2023, requesting the documents, which were not produced.

The organization seeks court intervention to compel them to comply with their request in line with Section 1(3) of the FOI Act.

The suit highlights that the respondents’ failure to produce the requested documents goes against Section 4(a) of the Freedom of Information Act, 2011.

NACAT describes itself as a non-governmental organization dedicated to combating corruption, financial crimes, terrorism, and economic sabotage. The suit does not yet have a scheduled hearing date.

Temmyabbe (
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