*We’ll accede to FOI’s request by Falana in due course-CBN
A legal luminary and human rights activist, Mr Femi Falana ( SAN) has asked the Central Bank of Nigeria (CBN) to provide “detailed information” on the proposed sale of Polaris Bank Nigeria Limited.
An online medium had claimed that CBN had commenced plans to “secretly sell” the bank for N40 billion.
But Polaris Bank later dismissed the online report and further described the report as “intending to cause panic”.
Invoking the Freedom of Information (FOI) Act, 2011 in a letter dated August 25 on the matter, Falana is asking the CBN to provide the details of the proposed transaction and the name of the lucky buyer.
The Senior Advocate also commended the CBN for bailing out Polaris Bank with the sum N1.2 trillion.
The letter reads in part, “We commend the Central Bank of Nigeria for bailing out Polaris Bank Nigeria Limited with the sum of N1.2 trillion.
“We have however read in the People’s Gazette online medium that the CBN has concluded arrangements to sell the Polaris Bank at a ridiculous sum of N40 billion.
“In view of the foregoing, kindly furnish us with detailed information on the proposed sale of the Polaris Bank Nigeria Limited including the name of the lucky buyer.
“As this request is made pursuant to the provisions of the Freedom of Information Act 2011, you are required to accede to our request within 7 days of the receipt of this letter.”
Falana also warned that if CBN fails or refuses to provide the requested information, he would be forced to approach the court for legal redress.
The Senior Advocate said, “Take notice that if you fail or refuse to furnish us with the requested information we shall pray to the Federal High Court to compel you to accede to our request.”
Meanwhile, CBN has responded to the FOI request by Falana on the proposed sale of Paris Bank in a separate letter dated September 1, 2022, saying that it will accede to the Senior Advocate’s request in due course.
The CBN said, “We write to acknowledge the receipt of your letter dated the 25th of August 2022 and received on the 1st of September 2022 on the above subject and wish to inform you that the information being sought, where available, will be communicated to you in due course.”
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