NGO sues Amosun and Others over CBN Loan
A non-governmental organisation, Advocacy for Integrity and Economic Development has dragged the Ogun State governor, Senator Ibikunle Amosun, the State House of Assembly, Central Bank of Nigeria and the state Agricultural and multi-purpose credit to a Federal High Court sitting in Abeokuta over a N2bn micro-credit loan.
The NGO sought for four reliefs and a restraining order against the governor and other defendants from disbursing the money which belongs to the CBN.
The N2bn loan was CBN’s development fund to revitalise the Micro, Small and Medium Enterprises in the state.
The governor had in September sought the approval of the House of Assembly to access the fund and got the passage from them.
But, the NGO which in a bid to stop the government and other stakeholders from disbursing it because it alleged due process was not followed, went to the Federal High Court and sought for an order restraining the CBN, its agents or any other person from allowing the government to access the fund.
The claimant who was represented in the court by Yinka Kotoye asked the court to declare “that the sum of N2bn sought from the CBN is a loan within the meaning of section 2, of Ogun state bonds and other securities issuance Law 2012 and Ogun State Debt Management office establishment Law 2012.
The claimant further requested the court to declare that the alteration contained in the House of Assembly’s resolution HR No.232/2014 of September 9,2014 materially changed the governor’s request for approval to take internal loan from the CBN and it is fraudulent, illegal, null, void and of no effect.
The claimant pleaded for an order setting aside the Assembly’s resolution HR N0. 232/2014 of September 11, 2014 for being a nullity.
He said, “A declaration that the agricultural and multi-purpose credit agency is not a participating financial institution within the meaning of the CBN’s Micro, Small and Medium Enterprises Development Fund guidelines of August 2014.”
A counsel who represents the state governor and the agricultural and multi-purpose credit agency, Kehinde Ogunfowodu and Adebowale Kamoru who represents the CBN said they have filed motions against the reliefs of the claimants.
The presiding judge, Folashade Ogunbanjo adjourned the case to December 10,2014 for hearing.