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‘My Suspension is Illegal’

Governor of CBN, Sanusi Lamido Sanusi
Governor of CBN, Sanusi Lamido Sanusi
Suspended Governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi has condemned his suspension by President Goodluck Jonathan on Thursday, stressing that the President has no right to sack him.

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He said the CBN governor cannot be sacked unilaterally but that he could only be sacked the same way his appointment was recommended by the president and ratified by the Senate.

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The CBN Governor who spoke on Channels Television did not say he will be go to court but said the sack ought to be challenged for the sake of his successor adding that such a sack has potential of putting fear in the next governor thus preventing him from acting independently.

“Central bank is an independent institution, the President cannot remove the governor. I think it should be challenged so that governors coming will not act for reason of fear”, he said and wondered if spending on education is financial recklessness.

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He explained that accounts of the CBN was audited for 2013, stressing that the accounts of the NNPC has not been audited for the past 13 years, adding that the bank contributes to the Federation Account more than NNPC.

He noted that is NNPC is subsiding kerosene despite a letter from the President directing it to stop subsidizing the product.

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