Suspension as CBN Governor: I WILL GO TO COURT —Sanusi

Posted by News Express | 20 February 2014 | 4,358 times

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Sanusi Lamido Sanusi, who was this morning suspended as Central Bank of Nigeria (CBN) Governor by President Goodluck Jonathan, has disclosed that he will challenge the decision in court.

Sanusi, who spoke during an interview with CNBC Africa, however, made it clear that his days at the CBN are effectively over, explaining that the main purpose of the intended litigation is to get a judicial pronouncement on whether or not the President has the power to do away with the CBN Governor.

“I think it is important to challenge it in court,” he said. “I do plan to ask the court to confirm if the President has that authority. Since the Governor cannot be removed by the President, can he be suspended by him? If that is not legally established, it means the next Central Bank Governor can be suspended and the CBN will not be protected,” he added.

Even so, Sanusi made it clear that his CBN career has ended. He said: “I was invited to serve the country. If the government at any time feels that I should leave, so be it. Even if I challenge it, I will not go back to the Bank. I don’t plan to go back to the job.”

Announcing Sanusi’s suspension, the Presidency had said it was done “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 characterized 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.”

Responding to this, Sanusi said: “I don’t know what they are talking about. When I come back I will know what they are talking about.”

Sanusi, who is currently on official assignment in Niger Republic, disclosed that his suspension has been officially communicated to him through the Nigerian Embassy in that country. He stoutly defended his stewardship, saying he had no regrets for his decisions and actions as CBN Governor in the past six years.

Asked if he thought his suspension was politically motivated, he replied: “I am not going to comment on that.”

He, however, expressed the hope that the Nigerian economy would not be hurt by his sudden removal “and I hope the Central Bank will be protected.”

•Photo shows suspended CBN Governor Sanusi.

Source: News Express

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