UPDATED: FHC Grants EFCC Mareva Injunction To Freeze All Ibru Funds, Assets Worldwide

San Francisco Jan 20, (THEWILL) – Justice Akinjide Ajakaye of an Ikoyi Federal High Court on Wednesday granted the EFCC a Mareva injunction to freeze all funds and assets worldwide traced to former Oceanic Bank Plc CEO, Mrs. Cecilia Ibru.

Her worldwide assets today stand at over N500 billion naira.

Sources privy to the ruling said the commission would start sealing off her assets immediately.

Cecilia Ibru was removed from her top job at Oceanic Bank Plc by the Central Bank after her bank failed the audit exercise and stress test.

Meanwhile, despite a court order granting her permission to travel abroad for medical treatment, she has not been able to leave Nigeria because of the existence of another court order obtained by the Central Bank, which ordered her to deposit N150 billion with the apex bank to cover part of her exposures to the bank before she can travel.

Ibru is alleged to have helped herself with about N235 billion naira while she was CEO at Oceanic Bank Plc.

Her trial resumes on January 24, 2010.