The former managing director of Oceanic Bank PLC, Cecilia Ibru, on Tuesday filed a suit before a Federal High Court in Lagos, challenging her removal as the chief executive officer of the bank by the Central Bank of Nigeria (CBN).
In the suit brought before Mohammed Liman, Mrs. Ibru stated that the CBN Governor, Sanusi Lamido acted hastily and in bad faith in removing her as chief executive of the bank, further saying she was never given any opportunity to defend herself before the sack.
Fair hearing
Mrs Ibru, who was removed along with four other bank chiefs, wants the court to determine whether Mr. Lamido and the CBN were bound to observe the rules of natural justice and fair hearing by hearing her side of the story before sacking her.
She also asked for an order of the court setting aside her removal and an order restraining John Aboh, the newly appointed chief executiveof the bank, from occupying or parading himself in his new position.
In addition, she wants an injunction preventing Mr. Lamido and the CBN or their employees, agents or privies from acting in pursuance of their directives and from interfering with her functioning as the managing director of the bank.
In the affidavit in support of the suit, Mrs. Ibru alleged that her sacking as Oceanic Bank's chied executive on August 14, 2009 is part of an elaborate plan by Mr. Lamido, to sell Oceanic bank to his friends under the guise of "core investors."
She stated that the appointment of Mr. Aboh to replace her was also in keeping with Mr. Lamido's design to sell the bank to his nominees. Mr. Aboh, she said, was instrumental to the transfer of the ownership of Wema Bank to a new group of core investors when he acted as Wema Bank's managing director.
Bad faith
She then inferred that Mr. Lamido acted hastily and in bad faith in getting rid of her.
"Neither Sanusi nor officials of the CBN, gave any report of special examination to me in my capacity as the CEO (Chief Executive Officer) of the bank or in my private capacity, for the purpose of enabling me defend myself and the bank prior to my removal from offic,e" she said.
However, the CBN, in its preliminary objection to the suit, said Mrs. Ibru lacks the ‘locus standi' to institute the action and that the court lacks jurisdiction to entertain the suit. It further holds that the suit is not justifiable in that it does not disclose a reasonable cause of action.
The apex bank further said the suit constitutes an abuse of court process and requested that the suit be dismissed.
A date is yet to be fixed for hearing of the suit.