The full FRC probe of CBN under Sanusi

Suspended Governor of the Central Bank of Nigeria, CBN, Mallam Sanusi Lamido has secured a court injunction stopping the Financial Council of Nigeria’s investigation into the books of the CBN.

The FRC took two days out to investigate the CBN under the leadership of its suspended governor, Sanusi over alleged financial recklessness and improper accounting standard.

But while the proceeding was on course, the Council took delivery of a court order stopping the probe pending the determination of the matter filed in court by the CBN governor.

Before that court injunction came, the panel had sat for several hours grilling senior officials of the CBN and the Bank of Industry over a wide range of issues bothering on audit fees, procurement issues and, compliance with the International Financial Reporting Standard amongst other issues.

Courtesy: TV360NIGERIA