The peoples verdicts. ...... SANUSI >>>> ere we go again; Mallam Sanusi Lamido Sanusi has taken refuge with the Court Injunction not to appear before the Financial Reporting Council of Nigeria. A public policy critic, a career banker and ranking Fulani nobleman, respected Islamic scholar, with a degree in Sharia and Islamic Studies from the African International University in Khartoum, Sudan, Central Bank Governor of the Year, as well as for Central Bank Governor of the Year for Africa, one of the 100 list of most influential people of 2011, has disgracefully forced FRC to suspend further inquiry into the activities of Sanusi Lamido Sanusi due to the Court injunction. >>>> >>>> What unfortunate judicial process in the country called Nigeria that the most virulent Nigerians would always get away from any atrocities they committed simply that they have the key to who is who in Nigeria as they commit the worst atrocity known to man. Sanusi, an advocate of due process, with nothing to hide, went all the way for a restraining order by a Federal High Court Lagos stopping the Investigative Panel of the Financial Reporting Council that is probing financial accounts of CBN, between 2011 and 2012, as he had earlier declined FRC invitation. These lousy public servants have mortgaged the mental capabilities of the Nigeria Judiciary as it comically blocks the process of the truth from the source. >>>> >>>> Haba Nigeria Judiciary! Is this how to cleanse the system of irregularities by blocking the due process? >>>> >>>> The Court injunction has endorsed the claim that FRCs invitation to Sanusi is on the basis of bias, breach of the rules of natural Justice, absence of statutory power, violation of the rule of law, and conduct prejudicial to good public administration and the special position of the Central Bank of Nigeria. >>>> >>>> The Court Injunction is a distortion of the process that Sanusi legal team is pushing the exercise into the farce amphitheatre from claiming that the Financial Reporting Council of Nigeria Act 2011, in particular Sections 7, 8, 11, 25, 28, 58(2) and 62 thereof, the FRC lacks the authority and the powers to conduct the investigation it seeks to undertake. This could be one of the crude cash and carry lawyers Sanusi hired for his case. >>>> >>>> Since Sanusi has blocked the FRC investigation, his case is now in the Peoples Court of Public Forum. >>>> >>>> Coincidentally, I happened to be on the same flight with Sanusi to Abuja from Lagos, March 11, 2014 on his way to appear at the Abuja Federal High Court slated for March 12, 2014; which was later aborted for the absence of the Judge from the Court, who happened to be on training. Sanusi sat so quietly, peacefully demonstrating almost the same public body language like myself, when it comes to public issues. I continued to gawk at him as he sat quietly. As we alighted at Nnamdi Azikiwe International Airport, I had to move closer to him again in the bus to the luggage claim area. The man walked quietly as if he could not move a feather. He could have honorably disengaged from the political appointment, when he felt disgruntled by his position as CBN Governor. After exchanging some pleasantries with the Prince of Kano, in his traditional regalia with his wife, some passengers gazed at him with contempt. >>>> >>>> >>>> President Goodluck Jonathan and Lamido Sanusi >>>> Some of Nigeria public officials see themselves as above the law, because they know their fellow cohorts in the Government. When there are some allegations against your public office, it is imperative on the employer to find out if such allegations are true or false. If found wanting, such individual is legally processed, return to work or fired. An employer has the legal backing to suspend, with or without pay, depending on the gravity of the offence. Going to court is like saying that the President has no right to suspend Sanusi, one of the untouchables. >>>> >>>> Coincidentally, some aggrieved shareholders of defunct Intercontinental Bank of Nigeria, that was phased out despite all positive IB reports, has taken Sanusi to court; waiting, if Sanusi is going to block that again with a court injunction. The IB stakeholders are of the opinion that Sanusi, as the CBN governor, acted contrary to the provisions of sections 12, 32, 35 and 39 of the Banks and Other Financial Institutions Act, Cap B4 Laws of the Federation of Nigeria 2004, by deliberately falsifying the actual financial state of affairs/solvency of Intercontinental Bank Plc and subsequently sold it to his cronies at a ridiculous sum of N50 billion. Sanusi can keep on running; he can never hide away from the truth, as he rightly stated that the President can never run away from the truth. The truth will gradually surface as time progresses. >>>> >>>> In a simple language, Sanusi Lamido Sanusi, as CBN Governor, suspension was overdue, as he was too political and reckless in all ramifications. Sanusi as CBN Governor should have championed, not inciting citizens against his employer. >>>> >>>> Some members of the National Assembly, kicking against the suspension of the CBN Governor, refused to acknowledge that the President has the power to hire, suspend, and fire. Sanusi should have been fired long time ago. Once you are too political on an appointed position, you are bound to give way for a neutral individual to manage the affairs that cut across all political, ethnic, religious, and International lines. An average Nigerian following the political trend of Sanusi in his Royal opulence should not be surprised about the suspension notice the Federal Government put on him. >>>> >>>> The President does not have to seek the approval of the Senate before he fires any of his political appointees. Definitely, Jonathan is not naïve to lay claim that he did not discuss with the key leaders of the Senate, before the suspension axe fell on Sanusi. The president getting permission from the Senate before firing any of his appointees is not part of Senate untraced oversight responsibilities. I believe the President has justification on the decision to suspend the much political loaded with religious financial recklessness of CBN Governor. >>>> >>>> Sanusi is the first CBN governor to have habitually engaged the press on the political conduit. His predecessors were bureaucrats who hardly spoke in the public. Sanusi alerted the whole world that $49.8 billion (N7, 898,280,000,000.00), realized from the sales of crude oil between January 2012 and July 2013 were not remitted to the Federation Account by the Nigerian National Petroleum Corporation, NNPC. On Wednesday, December 18, 2013, Sanusi swallowed his pride and came out with his distorted financial accounting procedure that NNPC did not remit $12 billion to the account within the period. >>>> >>>> The Minister of Finance and Coordinating Minister of the Economy, Mrs. Ngozi Okonjo-Iweala, faulted the CBN Governors position, that they found about $10.8 billion… not the mentioned $12billion; Sanusi agreed. >>>> >>>> He consequently regretted that his communication to the President was deliberately leaked to the public. >>>> >>>> >>>> Sanusi Lamido Sanusi and Okonjo- Iweala >>>> As the Countrys chief treasurer, Sanusi is expected to be well informed about the money of the Federation Account, working with his team of experts on modalities for collecting revenues in the oil and gas industries. Nigerians are looking beyond Sanusis political game, or sentiments, and demand to know how money goes in and out of the Federation Account. >>>> >>>> Could we say that the alterations on the missing remittance is a demonstration of gross incompetence by the Central Bank of Nigeria (CBN) Governor, which awarded Okonjo Iweala with the altercations with the House Committee on Finance abattoir table, when she took ill, with the rude handling of her presence, to furnish the Committee with answers to 50 comprehensive examination questions on the missing money allegedly stated by Sanusi. By implication, Sanusi has no adequate knowledge of what his job requires or that he has compromised the integrity the office of the CBN governor. It is considered a twist as tragic and a signal that people who are ignorant of the demands of their jobs manage the countrys economy. Alternatively, in a simple language, he played to the political gallery, which should not be, as a public appointed official. >>>> >>>> During that period, the rancor in the House of Representatives focussed on the impeachment of Nigeria President on the missing money; unlike the mystery behind the missing Malaysian 737 Plane. There was the heavy decamping in the Nigeria House of Representatives, from PDP to APC for those that would pick race at the sound of pigeons, a bunch of chorus singers. What a wrong political message that vibrates around the world. >>>> >>>> In the hiring process in any corporation, the direction of the corporate business is determined by the category of individuals hired to do the job. If the selection process is wobbly, definitely, the end result would not be good for the employing agency. We believe that Sanusis appointment as CBN Governor was the wrong person for the job in the first instance: because of the area he comes from; whosoever blocked Prof. Charles Chukwuma Soludo second term, and influenced late YarAdua to appoint Sanusi as CBN Governor, fuelling his outright political and royal undertones, through quota.. >>>> >>>> As a matter of fact, CBN Governor should be the last person to publicly comment on an issue like missing money in the weak Nigeria economy, realizing the fact that the comment of a Central Bank Governor can collapse the countrys economy. Unfortunately, Sanusi reacts to emotion rather than thinking it through. A school of thought is of the opinion that he lacks the temperament of a Central Bank Manager. This kicks in his relia
Posted on: Wed, 02 Apr 2014 06:47:03 +0000
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