naijaXclusive: cbn governor

Former CBN Governor Sanusi Sues President Goodluck Johnathan To Court

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Governor of Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi 
has finally concretised his threat to sue President Goodluck Jonathan 
over his removal as head of the bank last week. According to a 
suit filed at a Federal High Court sitting in Abuja late on Monday, 
Sanusi is challenging his suspension from office; and he has implored 
the court to, among others, restrain the president — alongside Attorney 
General of the Federation (AGF) and the Inspector General of Police 
(IGP) — from giving effect to his suspension, pending the determination 
of his lawsuit. He is also seeking an order of interlocutory 
injunction restraining the defendants from obstructing, disturbing, 
stopping or preventing him in any manner, from performing the functions 
of his office and enjoying in full, the statutory powers and privileges 
attached to the office of the governor of the CBN. Making a case 
for the reasons why the court should grant the prayers in his 
interlocutory application, he said the president’s unlawful interference
 with the management and administration of the CBN can only be left 
unaddressed at the expense of the country’s economy. Granting his 
application, he argued, will encourage parties to maintain the status 
quo until the determination of the substantive case. In a 
supporting affidavit, Sanusi maintained that his suspension is the 
consequence of his outcry over the $20bn in crude oil sales that was 
unremitted by the Nigeria National Petroleum Corporation (NNPC). He 
explained that while performing his duties as Governor of CBN, he 
discovered certain discrepancies in respect of amounts repatriated to 
the federation account from the proceed of crude oil sales between the 
period of January 2012 and July 2013. He said he expressed 
concerns about the said discrepancies and went ahead to notify the 
National Assembly, considering its huge effect on revenue of the 
federation and the national economy. His suspension, he insisted, is 
aimed at punishing him for the disclosures. Sanusi stated clearly
 that he was challenging the president’s power to suspend him from 
office, especially as the Senate was not approached to ratify the 
decision. “I have been informed, and I verily believe the 
information given to me by Senator Bukola Saraki to be true and correct 
that the Senate did not give the president any support for my purported 
suspension and removal from office as Governor of the Central Bank of 
Nigeria”, a part of the document read. He described his 
suspension as a contravention of provisions of the Central Bank of 
Nigeria Act relating to the appointment and removal of the CBN Governor.
 He therefore branded the act an unlawful interference in the 
administration and management of the apex bank, which is illegal, null 
and void. President Goodluck Jonathan suspended Sanusi Lamido as 
CBN Governor on 20th February 2014, claiming reliance on a report of the
 Financial Reporting Council of Nigeria (FRCN) that indicted the 
governor of “financial recklessness and misconduct”. But the 
widespread belief is that Sanusi’s suspension was triggered by his 
well-documented outspokenness, particularly his recent revelation of 
NNPC’s failure to remit $20bn in crude oil sales to the federation 
account. During his presidential media chat yesterday, Jonathan 
claimed that Sanusi remains the governor of CBN, yet the president 
nominated both an Acting Governor and a substantive replacement for 
Sanusi exactly on the day his suspension was announced.

Former CBN Governor Sanusi Sues President Goodluck Johnathan To Court

Governor of Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi has finally concretised his threat to sue President Goodluck Jonathan o...

6:59 pm

Jonathan Suspends CBN Governor Sanusi, Appoints Sarah Alade As Acting Governor

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The Federal Government Thursday suspended the Central Bank Governor, Mallam
Sanusi Lamido  Sanusi. In a statement by Dr. Reuben
Abati,   Special Adviser to President Goodluck Jonathan, the most
senior Deputy Governor of the CBN, Dr Sarah Alade, has been named as the
Acting CBN Governor. 
 
 
The statement read that, “Having taken special notice of reports of the
Financial Reporting Council of Nigeria and other investigating bodies, which
indicate clearly that Mallam Sanusi Lamido Sanusi’s tenure has been
characterised by various acts of financial recklessness and misconduct, which
are inconsistent with the administration’s vision of a Central Bank propelled
by the core values of focused economic management, prudence, transparency and
financial discipline;

“Being also deeply concerned about far-reaching irregularities under
Mallam Sanusi’s watch which have distracted the Central Bank away from the
pursuit and achievement of its statutory mandate; and being determined to
urgently re-position the Central Bank of Nigeria for greater efficiency,
respect for due process and accountability, President Goodluck Ebele Jonathan
has ordered the immediate suspension of Mallam Sanusi Lamido Sanusi from the
Office of Governor of the Central Bank of Nigeria.

“President Jonathan has further ordered that Mallam Sanusi should hand over
to the most senior Deputy Governor of the CBN, Dr Sarah Alade, who will serve
as Acting Governor until the conclusion of on-going investigations into
breaches of enabling laws, due process and mandate of the CBN.

“The President expects that as Acting Governor of the Central Bank, Dr.
Alade would focus on the core mandate of the Bank and conduct its affairs with
greater professionalism, prudence and propriety to restore domestic and
international confidence in the country’s apex bank.

“The Federal Government of Nigeria reassures all stakeholders in Nigeria’s
financial and monetary system that this decision has been taken in absolute
good faith, in the overall interest of the Nigerian economy and in accordance
with our laws and due process.”

Jonathan Suspends CBN Governor Sanusi, Appoints Sarah Alade As Acting Governor

The Federal Government Thursday suspended the Central Bank Governor, Mallam Sanusi Lamido Sanusi. In a statement by Dr. Reuben Abati, ...

11:43 am

Xclusive: Former CBN Governor Prof. Soludo Defects From PDP To APGA

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Former Central Bank of Nigeria (CBN) 
Governor and the Peoples Democratic Party (PDP) candidate in the 2010 
governorship election in Anambra State, Prof. Charles Soludo, has 
formally resigned his membership of PDP. 
 
He has subsequently 
joined the All Progressives Grand Alliance (APGA), where he had already 
been registered as a member in his Isuofia ward, Aguata Local Government
 Area of the state. But his candidacy as PDP standard bearer in 
the last governorship election in the state was revisited Wednesday by 
one of his rivals for the party’s ticket in 2009, Senator Andy Ubah, who
 described the process of his emergence as undemocratic.  His new 
party, Soludo said after being registered in his ward Wednesday, by the 
ward chairman, Okeke Anthony, is a party with sound and progressive 
ideology on which platform one could offer himself to the service of his
 people and try to express those ideas that will make for growth and 
transform Anambra into the “African Dubai-Taiwan” of his dream.In
 his July 17 resignation letter addressed to the PDP National Chairman,
 Alhaji Bamanga Tukur, a copy of which was made available to THISDAY in 
Isuofia Wednesday, Soludo said his resignation took effect from that 
date and used the opportunity to thank the party for the opportunity 
given to him to serve in some capacity.The resignation, he said,
 was “without prejudice to the possibility of future collaboration with 
the party in any areas of common interest designed to advance the course
 of nation-building.” 
 
But shortly after being registered as a 
member of APGA in his Isuofia ward Wednesday, the former CBN governor, 
who granted interview to some journalists, while responding to 
speculations that he had joined APGA, said: “The short answer to that is
 that it is true.” “I have resigned my membership of PDP. I have 
formally written to the national chairman of PDP a letter dated July 17 
of this year. It is quite fortuitous that you people arrived at a time 
when you saw the ward chairman of APGA register and issue me with a 
membership card. I registered at Isuofia ward.” 
 
He explained that
 the process of deciding to join APGA is a product of long months of 
consultation among his people and in fact a personal conviction. “I
 started over a year ago a process of consultation on our political 
future, what next and the political arena. I remain convinced that the 
greatness of this country is not in doubt and that it is through 
participation in the political process that one can contribute to its 
development. 
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<blockquote>
 “Everybody who has something to offer must get 
involved. It is during this wide consultation and during which I asked 
my people wide ranging questions that made me get involved. “The 
question centred on if they thought it was not worst to have gotten into
 the terrain and just kiss it goodbye or do we remain engaged and if we 
are to be engaged in which party. This formed the fulcrum of my 
consultation,” he said. Soludo said though he had been a member 
of PDP on whose platform he made his unsuccessful bid to govern the 
state, there is always time for sober reflection, adding, “The result of
 the consultation is the decision we have taken”. “The first 
is that there is an overwhelming demand by Anambra people for me to 
remain engaged in the political process. After more than a year of 
consultation, I came to the conviction that I should remain in the 
process. “Secondly, by even a greater conviction, that I should 
also run for the governorship of Anambra State building on the legacies 
of Governor Peter Obi. We need continuity, transformation and to 
consolidate on the gains of the past eight years. “There is this 
demand by my people that I should once offer myself for service. There 
is also a demand by our people that I should join the party that our 
people call their own which represents the essence, the aspirations and 
hopes of all Nigerians in general and the Igbos in particular. “It is a party that is a mass movement and lives in the consciousness of the people. “I
 am not joining APGA simply as a vehicle to contest for governorship of 
Anambra State. I am joining it because I want to breathe it, drink it, 
and exude it because in totality I agree with the trust and objectives 
of APGA,” Soludo said in defence of his choice of APGA. Soludo 
who hails from Anambra South zone joined APGA to actualise his ambition 
at a time the state Governor, Mr. Peter Obi, also of the same party, 
said he was looking towards the state’s north zone for his successor. But he said he was not aware of any zoning or rotation of positions in APGA as it is not anywhere in the party’s constitution. Meanwhile,
 the senator representing Anambra South in the National Assembly, Ubah, 
 Wednesday attributed PDP’s defeat in the last governorship election in 
the state to the crisis that followed the "hand-picking” of Soludo as 
the party’s candidate. Ubah, a PDP aspirant in the November 
election in the state, told journalists Wednesday, during an interactive
 session with indigenes of the state in Abuja, that internal party 
wrangling, lack of cohesion, perceived wrongdoing and extortion of 
money from aspirants forced most of them out of the party to seek 
alternative platforms to actualise their ambitions. He said: 
“PDP would have won that election, going by the number of votes all the 
56 aspirants that eventually defected to other political parties were 
able to garner, which surpassed the total votes gathered by the state 
Governor, Mr. Peter Obi, who won the state election. “First, 
there was clear case of injustice on my side. As I said, there was a 
precedent that any candidate that his election was nullified by the 
court should be the party’s automatic candidate in the next election. "All
 the governors that their elections were nullified were all made the 
party’s candidates. When it was my turn to be made the party’s 
candidate, following the nullification of my election in 2007, the party
 chose to hand-pick Chukwuma Soludo. This singular action made me to 
look for an alternative platform,” he said</blockquote>
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Xclusive: Former CBN Governor Prof. Soludo Defects From PDP To APGA

Former Central Bank of Nigeria (CBN) Governor and the Peoples Democratic Party (PDP) candidate in the 2010 governorship election in Ana...

11:02 am