President Goodluck Jonathan has suspended the Governor of Central Bank of Nigeria Sanusi Lamido Sanusi, after an investigation established that he was culpable for financial recklessness, a statement by Presidential Spokesman Reuben Abati said on Thursday.
Abati explained that Sanusi has been accused of donating huge sums, ranging from N10 billion to smaller sums, to state governments and institutions without regard to whether or not he had the power to do so.
In his words, “It was noted that most of those donations went to Northern states and interests. It was alleged that when Sanusi got wind of the investigation, he began to hurriedly dole out funds to groups in other parts of the nation.”culled
*Hmm Didnt Sanusi's problem begin when he cried wolf that money was missing?if your hands are not clean why are you shouting out that some else has their hands soiled?Nigeria matter TIRE ME!!!
I still reiterate that Sanusi is a boko haram sponsor.
ReplyDeleteStella have u heard about the kinda sophisticated weapons they fight with?
Hiluxes et al....where do u think they get funds from?
Looting from the poor local masses they murder?
Lmao.
Yeah, when I read he donated 10billion Naira to a University located at the Northern part of the country during the ASUU strike, I was like, "Wow! That's so generous of him." But then again, did the money proceed from his personal account or the government account? If from the government account, was he given the permission to do so by any superior body? If no, then that was very careless.
DeleteThen again, on the part of revealing how NNPC has not accounted to the CBN for some huge cash, that was very bold and patriotic of him.
I just hope the up-coming leaders will not have this mind-set our present leaders have because that's the only way Nigeria can move forward.
My dear go nd read d CBN act and I actually watchd channelstv dis mrning wen dey invited pple nd I got to understand dat only d cbn gov ve the power to print note nd do what eva e wants nt even d president of d country -i.e sanusi dnt need permission frm anybdy.mmm buth concerning d boko haram ish..... I dey reason watin una dey reason too oooo u sure say dis man no dey sponsor dem? Nobdy holy pass jhor in #2face voice#......
Deletedo u all know that BEANS is now 800 naira per TIN???
ReplyDelete@Galore
you are really something else......you've left your HI for this one.
DeleteSeriously... what? that's expensive. You mean Derica? Na wa oo. It is well.
DeleteI always knew this Ogbeni is just pot calling kettle black. I read earlier on,how he mismanaged n wasted reources,he suddenly started speaking against a system he was actively involved in probably cos them no gree give am him share. Sha all d money they r talking abt,none is entering my pocket n won't be used to make d lives of d masses better so let 'em pls make sure they kill themselves. Mmmmmtttttcccccchhhhhheeeww!
ReplyDeleteWell right move, but with wrong motives! Where's our $20b NNPC?
ReplyDeleteI remember this from a while ago. I think it was Bode George who said it to both Late Bola Ige and Sunday Afolabi. We invited you to come and eat and you opened your mouth to talk.
ReplyDeleteI am completely sorry for the future of this country, Because most of our youths have brains the size of a peanut. Why would someone be suspended for a report that was presented in July 2013, can we not comprehend, cant you guys read between the lines. Always wondered how we keep voting bad leaders, i see why now, and all of a sudden the missing 20billion USD is not the issue anymore. Am sorry for you all.
ReplyDelete@Mamie, I think you should not stress your fish brain when it comes to intellectual matters as this. When it comes to other matters such as Gossip, Bleaching et al we would need your opinion, but as of now we need intellectuals. Biko
ReplyDeleteDivine intervention at work.This is a good opportunity for us to investigate and get sm other things done.We can either to chose to use or abuse it.
ReplyDeleteOLUWÆßOBBY
Ok oh! I don hear! Someday,when all the dust settles,we'll know whom alongside his wife bled Nigeria @ the 'abbatoir'
ReplyDeleteStella, you are more intelligent than this. Why is it after Sanusi blew the whistle that he was asked to resign and then suspended? Why was it not the case with Stella Oduah who was indicted several times or even the head of SEC, Otunma and Diezani Maduekwe? Besides, out of all the allegations leveled against Sanusi, none shows that he used the money for himself or family? Should we not question the so called suspension? We are just too cheap to accept anything that comes from the media as long as it is in line with our thoughts.
ReplyDeleteSo u were living in the Mars when arunma oteh was suspended?Because her hands are not too stained,she came out of it.This mallam is a pretentious thief and nemesis just caught up with him.He remains suspended till his tenure lapses.Good riddance.
DeleteIt took GEJ long to do away with Madam Stella (aviation minister) but so quick to push Sanusi away. Nigeria my country what's the way forward?
ReplyDeleteDemma both same#God is creatn confusion n deir midst. EVE E UME
ReplyDeleteI am happy about this mallam's suspension.
ReplyDeleteU knw wat they say abt stones n ppl living in glass houses
ReplyDeleteThis is an answer to KAYCEE's question in d previous post as regards SLS' Suspension....
ReplyDeleteThe focal applicable Law is Section 11 of the CBN Act which I shall reproduce below:
“A person shall not remain a Governor, Deputy Governor or Director of the Bank if he is –
……………..
(f) REMOVED by the President;
Provided that the removal of the Governor shall be supported by two-thirds majority of the Senate praying that he so be removed.”
ANALYSIS
To be honest, there are very many angles to look at this; from Public Policy and Relations to moral codes but I will stick to a tiny piece of the legal perspective.
Issue one – The CBN Act is clear, the President has the power to remove a serving Governor of the CBN PROVIDED that said removal is SUPPORTED by two-third majority of the Senate. In my view, this ‘support’ required by the Law is a condition precedent to the exercise of this power of removal by the President. The support is what gives a removal life. As an aside, please note that this is different from ratification. In Law, ratifications give validity to an act that is already done. So said act is alive but inchoate until the approval/ratification.
Issue two – So what is all the noise about? The President has merely *suspended* Sanusi. This is where it gets a bit dicey; removal and suspension both envisage a cessation of office albeit in the latter this cessation is expected to be temporary; for example: until a final disciplinary decision is reached.
I will concede to the fact that it is a very arguable point that SLS’s suspension is tantamount to a removal as he is no longer in office either way; however I will like to state two general principles of interpretation of statutes and Section 10 of the Interpretation Act of the FRN
1. A statute is to be interpreted according to the ordinary meaning of the language except where this interpretation will lead to some absurdity (Literal rule).
2. A statute should be construed in line with what the spirit (intention) of the statute is.
3. Section 11 of the Interpretation Act –
“Where an enactment confers a power to appoint a person either to an office or to exercise any functions, … the power includes-
(a) power to appoint a person by name or to appoint the holder from time to time of a particular office;
(b) power to REMOVE OR SUSPEND HIM”
…..
The Interpretation Act has been able to help us resolve issue two. The words ‘Remove’ and ‘Suspend’ are used with a disjunctive particle (or) between them; this seems to put both words in the alternative in this instance.
Issue 3 – Technically it seems like the President has acted within his powers as defined by statute. Quoting Uncle Rue “the President has not flouted the CBN Act as he did not *remove* the CBN governor but *suspended* him”.
However, looking at the second principle I mentioned above, the intent of the CBN Act as enshrined in Section 1(3) is for the Bank to operate as an independent body in the discharge of its functions. Giving the President an (implied) unfettered power to suspend a CBN Governor clearly runs against this intention.
Now, since the CBN Act does not provide for ‘suspension’ it is essential to look at the Interpretation Act; essentially he who has power to appoint also has the power to remove and SUSPEND. According to Section 8 of the CBN Act the President does not have a one-sided power to appoint a Governor of the CBN as whatever selection he makes is subject to an approval by the Senate. In a literal application of the Interpretation Act the power to suspend is in the hands of the appointers (in this case the President and Senate) and not the President unilaterally.
In CONCLUSION of course there seems to be a little lacuna in the provisions of Section 11 of the CBN ACT and it is the duty of the Courts to interpret the scope of that Section however in a democratic society exploiting lacunas in Laws is unexpected of a legitimate leader.
Yes oh!! "A UNN graduate is always ahead of you...NATURALLY!!!" Great Lion!! One yansh up!!!!lol
ReplyDeleteJona need all the stolen money for 2015 election and Sanusi will not shut up so he removed him.All is about remaining in power even when is obvious he does not merit it.Ole.
ReplyDeleteYour Papa and your grandfather na ole wobia. Sanusi knew he was about be implicated that's why he started spilling falsehood about the govt he is part of. How can you feed police staff with one billion naira and u say he is a clean man. If na Jonathan una go critise tire. Idiots.
DeleteRead details of the report released June 7th 2013 that forced Sanusi into the diversionary "missing NNPC $50b oil receipt" here: http://thewillnigeria.com/news/exclusive-document-the-financial-reporting-council-report-that-busted-sanusi-2/Smart ass just earned hero status through an age old trick he must have learned from the likes of Hell Rufai, FFK, Tinubu etc. Even 419 practitioners used it in those days.
ReplyDeleteTot nigerians are smart people, but hell no, obviously dumb. Sanusi has been under investigation since he released d july 2013 report, he knew dis & even mentioned it in his interview, he tot he was smart & wanted to use a stupid tactics to confuse d minds of nigerians by $20b NNPC, e was inconsitent wit d exact figure. So as to make d public believe e is been victimised. Just as it took d presidency several months to sack oduah after investigations, it took dem several months to suspend sanusi after investigation, but sanusi on d other hand wanted to play d victim. Im sure dat d presidency is investigating d $20b NNPC & any one found quilty will b brought to book. President jona is different to wat nigerians are used to.
ReplyDeleteIm not in support of jona or sanusi, sanusi brought some sanity to d banking industry but i tink he is quilty of misappropriation of funds. But e tinks he is smart, e quickly pulled d $20b NNPC stunt, an allegation u were nt consistent wit d figures. Hence trying to play d victim. If ur allegations are true, then i pray those involved are being investigated & we will hear fr jona soon. As for jona i m still yet to comprehend ur style of leadership, but u've got very limited time to show working, but one tin i have noticed during ur administration there is more transparency & publicity & d media feel free to voice their oppinion for or against d current leadership, which is a way forward for our great nation. XxbarbieXx
ReplyDelete