FRC appeals judgment on Sanusi
The Financial Reporting Council of Nigeria (FRC) has appealed 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, Mallam Sanusi Lamido Sanusi.
The main kernel of the appeal was on jurisdiction as the FRC contended that the court did not have the jurisdiction to hear the suit.
The FRC's appeal filed by its counsel, Bola Ajibola, also faulted the court for relying on Exhibit 1 (briefing note) despite the fact that it had earlier ruled that it was not admissible.
Another ground of the appeal 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, rather about the account of the CBN for the years 2011 and 2012.
The appeal 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.