By HeapNews
The Court of Appeal sitting in Abuja has dismissed an appeal filed by the Central Bank of Nigeria (CBN) and upheld a judgment compelling the apex bank to release details of its settlement with MTN Nigeria over alleged improper repatriation of $8.1 billion.
In a unanimous decision, Justices Usman Alhaji Musale, Boloukuromo M. Ugo, and Mohammed A. Danjuma affirmed the earlier ruling of Justice J.K. Omotosho of the Federal High Court, Abuja, which on January 10, 2024, directed the CBN to disclose the full terms of the settlement. The appellate court also awarded N500,000 in costs against the CBN in favour of the Human and Environmental Development Agenda (HEDA Resource Centre).
The case originated in 2021 after HEDA, invoking the Freedom of Information Act, demanded that the CBN release details of the resolution with MTN Nigeria. While the Federal Government had accused the telecom giant of violating foreign exchange regulations, the eventual out-of-court settlement remained shrouded in secrecy.
Justice Danjuma, delivering the lead judgment, faulted the CBN’s refusal, stressing that “under Section 1(2) of the FOI Act, an applicant does not need to prove any special interest before requesting information from a public institution. Once denied, the burden lies on the institution to justify the refusal.”
The court further criticised the CBN for directing HEDA to other agencies such as the National Library and the Federal High Court, describing it as a clear violation of Section 5(1) of the FOI Act, which mandates transfer of requests to the appropriate body.
Reacting to the ruling, HEDA’s Chairman, Olanrewaju Suraju, hailed the judgment as a victory for transparency and accountability.
“This judgment not only compels the Central Bank to release the long-suppressed details of its deal with MTN but also strengthens the enforcement of the Freedom of Information Act in Nigeria,” Suraju said. “It reinforces the principle that public institutions are accountable to citizens and must not operate in secrecy.”
The appellate court’s decision is expected to put renewed pressure on the CBN to make public the terms of the settlement, including the initial fine imposed on MTN, the final amount paid, and any concessions granted.