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Shareholder Group Drags CBN to Court.
Byline: Peter Egwuatu
A foremost shareholder group in the country, Proactive Shareholders Association of Nigeria (PSAN) on Friday filed a suit in Federal High Court, Abuja with the Central Bank of Nigeria (CBN) and the CBN Governor, Lamido Sanusi, as the first and second defendants.
According to PSAN Solicitor, Barrister Nnodi Okeke, the plaintiff is praying the court to determine whether the CBN under the Banks and Other Financial Institutions (BOFIA) has power to sell or to invite investors to buy any bank in the country without reference to the shareholders at all.He listed the affected banks as Intercontinental Bank Plc, Oceanic Bank International Plc, Union Bank …
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