Finally, lawyers drags Buhari, Malami, Okotete to court for violating CBN Act in appointment into NEXIM bank

Lawyers for Reform Group (LRG) has taken President Muhammadu Buhari, Minister of Justice and Attorney General of the Federation (AGF), Abubakar Malami and the Executive Director of the Nigerian Export-Import Bank (NEXIM), Stella Erhuvwuoghene Okotete to court for violating the Central Bank of Nigeria (CBN) Act in appointment into NEXIM.

In a suit filed before the Federal Capital Territory (FCT) High court, marked FHC/ABJ/CS/2233 between, Incorporated Trustees of Ilaje Global Think Thank Initiative and Okotete as first defendant, Buhari as the second defendant and Malami as the third defendant, the law firm said it was bringing the case before the court pursuant to section
6.1.1 of the CBN circular on revised and assessment criteria for approved person regime for financing institutions 2015.

The law firm prayed the court to ask President Buhari if the appointment of Okotete as the Executive Director of the bank was in line with the CBN Act, stressing the need for the court to declare the appointment as null, avoid, illegal and unconstitutional.

The suit reads: “And should this Honorable Court answer any or all of the above questions in favour of the plaintiff, the plaintiff, seeks against the Defendants, jointly and severally, the following reliefs:

“A declaration that, in view of Section 6.1.1. of the Central Bank Of Nigeria’s Circular on Revised Assessment Criteria for Approved Persons’ Regime for Financial Institutions, 2015, the 1st Defendant is not qualified to hold the position of Executive Director of Nigerian Export-Import Bank (NEXIM BANK)

“A declaration that, in view of Section 6.1.1. of the Central Bank Of Nigeria’s Circular on Revised Assessment Criteria for Approved Persons’ Regime for Financial Institutions, 2015, the 2nd Defendant cannot validly appoint or reappoint the 1st Defendant as Executive Director of Nigerian Export-Import Bank (NEXIM BANK)

“A declaration that the appointment of the 1st Defendant as the Executive Director of Nigerian Export-Import Bank (NEXIM BANK) by the 2nd Defendant is wrongful, illegal, unconstitutional, null and void.

“A mandatory order nullifying and rescinding the appointment of the 1st Defendant as the Executive Director of Nigerian Export-Import Bank (NEXIM BANK) which was made by the 2nd Defendant

“A mandatory order compelling and mandating 1st Defendant from vacating office as the Executive Director of Nigerian Export-Import Bank (NEXIM BANK) and from refunding to the Federal Government of Nigeria every entitlement, salary and remuneration received during her entire period in office as Executive Director of Nigerian Export-Import Bank (NEXIM BANK).

“An order of this honourable court disqualifying the 1st Defendant as the Executive Director of Nigerian Export-Import Bank (NEXIM BANK)

“A perpetual injunction restraining the 1st Defendant, including her privies or agents, from parading herself as the Executive Director of Nigerian Export-Import Bank (NEXIM BANK)

“And such further or other order or orders(s) as the Honorable Court may deem fit to make in the circumstance.”