naijaking1:

Splitting hair, and trying to change the subject will not do.
Is it any secret that EFCC charges were based on the so-called impeccable CBN findings: from owing 15 properties, to owing private jets and yatch, to owing over $500billion---one time allegation against Ibru, to owing shopping complexes, to owing the buildings the branches were located in were some of the public and quasi-official charges against these people.
Next, you will ask for evidence to show that CBN raised the charges being forwarded and prosecuted by EFCC?
Sorry, I don't have the privilage of a cozy CBN office with fulltime research staff like you do, all are in the public domain.

All are in the public domain and yet you cannot provide a link to one 
You have equated the statements of the EFCC to that of the CBN, and have failed to provide any proof, and next you will hypocritically demand that non be accused until found guilty

naijaking1:

^^^^
Thank you tpia.

The quote does not prove anything. The statement simply stated that the publications referenced by the accused were not grounds for a dismissal. It states nothing about the content or veracity of the publications, which is what you were suppose to show i.e. where did the CBN parade the suspects and/or where did sanusi make false claims against the suspects with regards to ownership of properties.

The article focuses on a side comment by the judge but ignores the core ruling of dismissing the case and having the trial go ahead.

SapeleGuy:

With all this broadcasting by Sanusi can the accused individuals really get a fair trial?

Nigeria doesnt run a jury system, so I dont see how public opinion equates to judicial ruling, unless you are alleging that the judges are biased and thus incapable of doing their job.

Nice Try Biina - what you are condoning is against our constitution. Jury or no jury, Sanusi is wrong.

A fair trial based on the presumption of innocence is the right of every Nigerian not a privilege.
In disregarding this fundamental right Sanusi is displaying his primitiveness.

SapeleGuy:

Nice Try Biina - what you are condoning is against our constitution. Jury or no jury, Sanusi is wrong.

A fair trial based on the presumption of innocence is the right of every Nigerian not a privilege.
In disregarding this fundamental right Sanusi is displaying his primitiveness.

You have failed to explain how the opinion of Sanusi affects the fairness of the trial (which is what you are alleging), as judgment would be passed by a judge or group of judges.

What sophistication can we expect from a marabout with a sharia degree from Sudan?

Is it not the same Sanusi that said the CEO's should be lined up at Bar Beach and executed by firing squad? This is even while his so called bank audit had thrown up all sorts of false debts which where then promptly and immorally published, only for the CBN to recant after being sued and challenged by several bank clients. The same fiasco reared its head in the tracing of asset ownerships.
Right now the EFCC has been implicated in attempts to extort $2 million from Cecilia Ibru. The whole thing is a mess, but we can't expect better when the man on whose desk the buck stops, Sanusi, is a simple bush man who is struggling to operate in a league way above his station.

biina:

You have failed to explain how the opinion of Sanusi affects the fairness of the trial (which is what you are alleging), as judgment would be passed by a judge or group of judges.

The judge has already done that by issuing the warning. If Sanusi or others ignore this they will be in contempt of court. No matter how we nack the grammar - Trial by media is wrong.

biina:

All are in the public domain and yet you cannot provide a link to one
You have equated the statements of the EFCC to that of the CBN, and have failed to provide any proof, and next you will hypocritically demand that non be accused until found guilty
The quote does not prove anything. The statement simply stated that the publications referenced by the accused were not grounds for a dismissal. It states nothing about the content or veracity of the publications, which is what you were suppose to show i.e. where did the CBN parade the suspects and/or where did sanusi make false claims against the suspects with regards to ownership of properties.

The article focuses on a side comment by the judge but ignores the core ruling of dismissing the case and having the trial go ahead.

sanusi is making allegations against these people using the media, but they do not have the opportunity to defend themselves.

They're being tried twice- once in the court of public opinion through the media, and again in the courts.

If the judge eventually considers the case and finds nothing that tallies with the media circus, who is going to accept that ruling?

Beaf:

What sophistication can we expect from a marabout with a sharia degree from Sudan?

Is it not the same Sanusi that said the CEO's should be lined up at Bar Beach and executed by firing squad? This is even while his so called bank audit had thrown up all sorts of false debts which where then promptly and immorally published, only for the CBN to recant after being sued and challenged by several bank clients. The same fiasco reared its head in the tracing of asset ownerships.
Right now the EFCC has been implicated in attempts to extort $2 million from Cecilia Ibru. The whole thing is a mess, but we can't expect better when the man on whose desk the buck stops, Sanusi, is a simple bush man who is struggling to operate in a league way above his station.

False debts? and over N100Bn has been recovered by the banks. I wonder who were those who 'donated' to the bank's cause.
Nobody has successfully sued the CBN over the list, and you are just trying to blow the typos (which have been corrected and a a statement of the corrections made by the CBN) out of proportion. why dont you provide the evidence to support your 'all sorts'.
Seems you have nothing new to contribute as you simply rehash the same stuff on every related thread.

tpia.:

sanusi is making allegations against these people using the media, but they do not have the opportunity to defend themselves.

They're being tried twice- once in the court of public opinion through the media, and again in the courts.

If the judge eventually considers the case and finds nothing that tallies with the media circus, who is going to accept that ruling?

Allegations? The evidence is clear including the outcome of the CBN audit (or are you accusing the CBN auditors, SEC officials, etc of complicity as well).
Sanusi is not trying anybody. He did his audit and has taken the actions he deemed necessary i.e.firing the executives. Criminal proceedings (if necessary) are up to the EFCC and the justice ministry. Sanusi is not the one charging the executives to court.

As to defending themselves, if they feel that Sansui is making false allegations, the executives are free to sue him for slander and/or sue the CBN for libel. i am yet to hear of one such lawsuit.

Accepting the ruling of the courts is dependent on your views of the judicial system, and not dependent on Sanusi views. If you feel the system is fair you will accept the ruling, and if you feel otherwise, you wont.

^^ where did you hear of this CBN audit you're referring to?

from CBN staff or the media?



fact is, most of the publicity attached to this issue has been one sided, courtesy the media.

biina:

False debts? and over N100Bn has been recovered by the banks. I wonder who were those who 'donated' to the bank's cause.
Nobody has successfully sued the CBN over the list, and you are just trying to blow[size=14pt] the typos (which have been corrected and a a statement of the corrections made by the CBN) [/size] out of proportion. why dont you provide the evidence to support your 'all sorts'.
Seems you have nothing new to contribute as you simply rehash the same stuff on every related thread.

Of course, with your unusual logic, the typo's must have been made by the bank clients. Sanusi wasn't responsible? Damn! In which country (including Sudan) does the Central Bank publish typo's? Where have you heard of any central bank (including the one in Khartoum) publishing false figures only to recant and call them typo's?
Do you realise the gravity in the institution of the Central Bank or do you think we are talking cheap about Dugbe or Kazaure markets here?

The fact that typo's were published by an institution as grave and sacred as our Central Bank only goes to show that its boss, Sanusi is a mere bush man struggling to operate in a league that is beyond his simple agbero mentality.

If you genuinely think I am "just trying to blow the typos", then you need to takeup less demanding arguments; if however, you've been paid to put up these illogical positions, then I hope you don't have to do it for much longer. May Jonathans broom sweep away Sanusi's bow tied, marabout ar'se.

Why am I not surprised that you have nothing to say about the EFCC's implication in attempts to extort $2 million from Cecilia Ibru?

Whoever believes that Atuche own only five properties and two are undeveloped,needs to give me a call.I have a bridge to sell to that deluded soul.
Sanusi should take a break.this case will die a natural death.
Nothing will come out of it.
No be Nigeria?
Afterall, Ebitimi Banigo is an adviser of Jonathan.
A man that did worse in All State Trust Bank than Atuche and Ibru combined could do to their banks.

Are people now saying they don't understand the importance of not commenting in the media on a court case you are party to?

How much common sense will we destroy to justify the unjustifiable.

Sanusi should get civilised!!!!

mikeansy:

Are people now saying they don't understand the importance of not commenting in the media on a court case you are party to?

How much common sense will we destroy to justify the unjustifiable.

Sanusi should get civilised!!!!

How is Sanusi involved? Is he the prosecutor, defendant, or judge?
Explain how Sanusi's comments affect the fairness of the trial, which is determined by the presiding judge.
The executives and their lawyers that have made comments in their defence should also have kept quiet abi? after all they are the defendant and are clearly party to the case.

biina:

How is Sanusi involved? Is he the prosecutor, defendant, or judge?
Explain how Sanusi's comments affect the fairness of the trial, which is determined by the presiding judge.
The executives and their lawyers that have made comments in their defence should also have kept quiet abi? after all they are the defendant and are clearly party to the case.

You have a history of not admitting it even when you are wrong and I am not really concerned that you deny the truth, neither am I interested in engaging you in a ping-pong debate because it is a waste of everybody's time.

In all the court papers both in cases instituted by EFCC or the Bank CEOs; you will find that the CBN are either Joint Defendants or Witness.
Sanusi as the current Governor is the face of CBN. When the CBN are party to a suit he should not pre-empt the court process by demonizing the accused in the Media. That is called contempt of Court process

If you cant simply understand this then unfortunately you may be living in Robert Mugabe's Zimbabwe or Fidel Castros Cuba. Our Justice system in Nigeria is not up to scratch but sometimes we still pretend to understand the meaning of rule of law and I guess thats what the Judge was saying.

biina:

How is Sanusi involved? Is he the prosecutor, defendant, or judge?
Explain how Sanusi's comments affect the fairness of the trial, which is determined by the presiding judge.
The executives and their lawyers that have made comments in their defence should also have kept quiet abi? after all they are the defendant and are clearly party to the case.

Leadership (Abuja)

[size=18pt]Nigeria: How Ibru Looted Oceanic Bank - Sanusi[/size]Abdulaziz Abdulaziz
24 January 2010

Kano — The Central Bank Bank of Nigeria (CBN) governor, Malam Sanusi Lamido Sanusi has opened up on how the sacked managing director of Oceanic Bank Plc, Mrs Cecilia Ibru duped the bank of billions of naira during her reign as the chief executive of the bank.

Sanusi who gave details of the many underhand deals that almost dragged the bank to abyss said the former managing director turned the bank into a personal business running its affairs according to her wishes.

Speaking in a live programme over the Kano-based FM station, Freedom Radio, monitored in Kano on Friday, the CBN governor said the apex bank reform introduced by his regime has succeeded in unveiling several cover-ups as in the Ibru's.

The apex bank governor explained that banks that ought to be repositories of trust were managed with high level of dishonesty. Sanusi explained that apart from the 103 choice properties belonging to Mrs Ibru that were frozen by court, the apex bank has discovered many more under-deals.

He said, as at the time of sacking Mrs Ibru from Oceanic Bank, the bank had 19, 000 staff most of which were redundant. Sanusi explained that Ibru, who owns a recruitment firm, employed staff for the bank through which she earns money illegally.

According to him, at the time of her ouster, the former managing director, embarked on construction of additional 199 branches for the bank nationwide, a development Sanusi described as illicit considering that CBN only approved 66 new branches for the bank.

Mrs Ibru, Sanusi said, claimed rent fares for period of five to ten years for all the branches she was building which was up to twenty billion naira. He said the sacked CEO equally employed staff for all the proposed 199 branches and began to pay them salary with certain percent going to her pocket.

The apex bank boss explained that the bank was really in distress considering such extravagances including N4.2 billion naira the bank pays as monthly salaries to its staff. He said, with the situation of the bank it could not earn profit that could cover the salaries but the entitlements were rather paid out of customers' money.

According to Sanusi, in the contest of reality, banks such as Oceanic must retrench some staffers to avoid a situation where the upkeep of the staff was met out of actual savings of the people.

"We don't want anybody to lose his job. We are not happy for the mass retrenchment but the truth is that for the banks to continue running healthily, some adjustments have to be made." He said.

He however hoped that when the banks regain their feet they will reopen their gates for fresh recruitments.

On the recent order by the CBN cutting the tenure of banks' chief executives to ten years, Sanusi said the policy was borne out of the need to inject fresh ideas and virile men to the banks for proper progress.

According to him, the sit-tight by some bank executives was not healthy for the system, as such people often turn the banks into a sort of private investment or got carried away by other things as they accumulate wealth unquestionably.

biina:

How is Sanusi involved? Is he the prosecutor, defendant, or judge?
Explain how Sanusi's comments affect the fairness of the trial, which is determined by the presiding judge.
The executives and their lawyers that have made comments in their defence should also have kept quiet abi? after all they are the defendant and are clearly party to the case.

Still want to know how Sanusi is involved
Once again, unlike you, many people don't have the benefit of a cozy CBN propaganda office, but the moronic street performances of Sanusi since he assumed office are well documented. Only in Nigeria will such an officer have paid agents trolling the news and internet media repeating, clarifying, and sometimes denying what their boss has said, only to score cheap political points.

@biina
If Sanusi said those things to senators under oath and in camera, is it then any wonder some of them may already be biased against the poor woman, and when some of the allegations could be false? Ibru was never called to defend herself you know
I'll look for Sanusi's statements against Akingbola and others after this.

Friday, January 1, 2010
[size=18pt]Cecilia Ibru Paid N225m For Living In Own House[/size]

OCEANIC Bank International Plc paid N225m to companies owned by the sacked managing director, Mrs. Cecilia Ibru, as rent for her Ikoyi mansion, where she lives, investigations have shown.

Investigations showed that the bank paid about N5.6bn as rent for branches and unutilised guest houses owned directly by Ibru or her associates.

Our correspondents learnt that the bank maintained 115 guest houses across the country, including an “executive guest house” at 20, Queens Drive, Ikoyi, Lagos, alleged to be Ibru‘s personal residence.

For Ibru‘s residence, the total amount paid for a five-year lease, beginning from October 25, 2008 was N88m, paid to Ogekpo Estate Managers.

A document obtained on Wednesday, showed that the bank also paid N137.5m to Casi Properties Limited for another five-year period, for the former managing director‘s residence, beginning from October 25, 2012 to September 25, 2017, bringing the total amount to N225m.

Ibru was said to have also received a hefty housing allowance during her tenure.

The bank, according to the document, is also paying heavily for 20 buildings owned mainly by Ibru‘s companies, being used as business locations in Lagos, Delta and Abuja.

It paid N80m to Casi Properties Limited, owned by Ibru, for a property at Block D33, Games Village, Abuja; while N60m (10-year lease) was paid to Ogekpo Estate Managers for an executive guest house at Ndanuba Street, Maitama, Abuja.

Ibru, according to the document, also occupied the guest house.

Another N33m was paid to Ogekpo Estate Managers on a two-year lease, commencing from August 25, 2009 to January 2011, for a property at Ali Akilu Crescent, Asokoro, Abuja.

The bank‘s Apongbon branch at 60, Marine View, Apongbon, Marina, Lagos, owned by Dele Oye and Associates, costs N1.243bn for five years, among others.

According to law enforcement sources, the agency fees also went to companies owned directly by Ibru, and in some cases, by her associates.

A source in the bank, who spoke on the condition of anonymity, said that apart from the fact that the rents, in most cases, were far above industry rate, about 80 per cent of the guest houses were not being used.

According to him, the houses were being used, largely, as avenues to make money for the former managing director’s companies. No official of the bank was, however, willing to comment on the matter.

Fresh non-performing loans were discovered recently in the bank, bringing the total to N235bn. About N160.7bn was reported to have been given by Ibru at ridiculous terms to cronies and family members.

According to reports, she also ”unethically” paid N825m to a company owned by her daughter as a 10-year rent on a property along Ikorodu Road, Lagos.

The Governor of the Central Bank of Nigeria, Mr. Lamido Sanusi, had, during a closed door meeting with the Senate, revealed that the bank, under its former management, had been reckless with credit.

A senator, who spoke on the condition of anonymity, had quoted Sanusi as saying that Ibru gave out N235bn unsecured loans; had two jets and had paid for additional two before her removal from office.

He said that Sanusi wondered why a bank chief would give out N235bn loans when the bank had a capital base of N300bn.

The CBN governor had alleged that part of the money was used by the bank chief to acquire two private jets.

When contacted, the Head, Corporate Affairs, CBN, Mr. Muhammed Abdullahi, said, ”We are aware that after the CBN appointed MDs had assumed office, startling revelations had been made, most of which have to do with disregard for the code of corporate governance, and in some cases, outright fraudulent activities.”
http://www.punchng.com/Articl.aspx?theartic=Art200912312104815

naijaking1:

Still want to know how Sanusi is involved
Once again, unlike you, many people don't have the benefit of a cozy CBN propaganda office, but the moronic street performances of Sanusi since he assumed office are well documented. Only in Nigeria will such an officer have paid agents trolling the news and internet media repeating, clarifying, and sometimes denying what their boss has said, only to score cheap political points.

LWKMD. You have concluded that I am a CBN official simply because i approve of Sanusi's action.
All the articles you posted have not shown that the judges will be biased against the defendants as you and others are alleging, nor has their been any evidence that the statements are false.
The senator will not be trying the case, and if she is innocent she cn sue sanusi and/or the CBN for defamation.

mikeansy:

You have a history of not admitting it even when you are wrong and I am not really concerned that you deny the truth, neither am I interested in engaging you in a ping-pong debate because it is a waste of everybody's time.

In all the court papers both in cases instituted by EFCC or the Bank CEOs; you will find that the CBN are either Joint Defendants or Witness.
Sanusi as the current Governor is the face of CBN. When the CBN are party to a suit he should not pre-empt the court process by demonizing the accused in the Media. That is called contempt of Court process

If you cant simply understand this then unfortunately you may be living in Robert Mugabe's Zimbabwe or Fidel Castros Cuba. Our Justice system in Nigeria is not up to scratch but sometimes we still pretend to understand the meaning of rule of law and I guess thats what the Judge was saying.

Could you please provide these court papers? Particularly the ones where the CBN are witnesses before the trial starts
The suits brought against the CBN (where they are defendants) are civil suits and not criminal, and thus guilty or innocence do not apply.
You have failed to show how Sanusi's action biases the judges, who are responsible for the fairness of the trial.
The judge made a comment against parading suspects in public. The CBN never did.
PS. please be clear on the meaning 'parading suspects in the media' before quoting some extraneous materials like Sanusi saying they deserve to be shot.

You could not come up with a sound argument and/or evidence in support of your earlier claims and have simply resorted to personal comments. Disagreeing with you or anyone else does not equate to me being right or wrong. If we are to go by history, you are the one who has an history of making false statements in desperate bids to paint Sanusi negatively e.g. you recently claimed that Sanusi made a new policy to remove non-executive directors after 12 years, when in truth the policy was introduced by Soludo. I doubt you had the dignity (like Roadster showed) to admit you were wrong. So dont be hypocritical and start insinuating other dont accept it when they a re wrong. You have no idea of the concept.

In good time all we be settled, as the defendant will get their day in court.

I adopt the idea partly but at times the vice-versa helps inform about and halt corruption.

biina,
unfortunately, you will win this argument but lose the fight in the end.
Nothing will come out of this prosecution.
Not because the case cannot be proven, not even because of some of Sanusi's crass conduct and comments (in spite of his good intentions) but because this is Nigeria.The elite look after themselves and the status quo serves more of the elite than a genuine change in the banking industry.
Ibru et al probably defrauded their banks more than Sanusi will ever be able to prove but it makes no difference and will not change anything.
If a man like Ebitimi Banigo can be an adviser to Jonathan and call some shots therein,after all he did to All State trust bank, then Cecelia and Atuche will be rehabilitated in the very near future.It does not matter if one or two banks fail in the near future.
This is how the Nigerian elite look after themselves.

Suspects are "paraded" in Nigeria coz that's what Africans love.They have this mob-mentality.They love to see their "enemies" exposed and disgraced.They would love to see the thief who stole a piece of yam lynched to death but the same people would lie face down on the ground to worship the bigger thief who took their birth right away.

I don't understand my people one bit!

Has there been media trials?

Yes.

Was CBN in conjunction with EFCC in these media trails?

Yes.

Should the media trials stop?

Yes.

That, my friends should summarize all the post is talking about.

Meen! Can't believe this was badgered on all through the nite. Don't u guys ever get some rest?

Dickhead Sanusi trying to portray the image of the Nigeria Financial and banking sector savior. He seems to forget that we all get our turns in life, when he has done his time, he should expect to live the rest of his miserable life behind bars. Bloody tyrant

eros:

Dickhead Sanusi trying to portray the image of the Nigeria Financial and banking sector savior. He seems to forget that we all get our turns in life, when he has done his time, he should expect to live the rest of his miserable life behind bars. Bloody tyrant 

i pray u b his host.junk.

I am sure Sanusi is crocked, I don't know how or why or by whom, but his actions reek of high ineptitude occasioned by bias and a hunger for revenge. Whatever he does now, he is doomed. Already cast into the dustbin of history even before he can drop the microphone.