FRC Insists Sanusi has Case to Answer

The Financial Reporting Council of Nigeria (FRC) has appealed against the judgment of a Federal High Court, which ruled against it in a suit filed by the suspended governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi.
The appeal was based on jurisdiction, as the FRC contends that the court did not have the jurisdiction to hear the suit.
According to the spokesman of the FRC, Mack Ogbamosa, the appeal filed by its counsel, Bola Ajibola and Co, also faulted the court for relying on exhibit one despite the fact that it had earlier ruled that it was not admissible.
Another ground of the appeal, Ogbamosa noted, was the assumption by the court that the FRC panel was prejudicial to the cause of Sanusi.
The FRC contended that the panel was not only about Sanusi, but rather about the account of the CBN for the years 2011 and 2012.
The council also faulted Sanusi’s case, contending that he did not comply with Section 66 (2) and (3) of the FRC Act before bringing an action against the council in court.
It also contended that the court erred in law as it ruled against non-parties in the suit.
The appeal further faulted the court, saying its panel was an administrative one rather than judicial.

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