House of Reps Says Sanusi’s Removal, It’s ‘illegal and Unconstitutional!!!

 The House of Representatives has rejected President Goodluck Jonathan’s removal of Sanusi Lamido as governor of the Central Bank, dismissing the president’s action as “illegal and unconstitutional”

Mr. Sanusi was suspended yesterday for what the president called “financial recklessness”; but many Nigerians believe he was punished for exposing the Nigerian National Petroleum Corporation, NNPC’s failure to account for $20 billion missing oil money, and how the government has failed to act on the matter.

Mr. Jonathan has already named Godwin Emefiele, the current chief executive officer of Zenith Bank, as new CBN chief, subject to the confirmation of the Senate.

But the House of Representatives on Thursday(yesterday) rejected the president’s decision, and accused Mr. Jonathan of acting outside his power, in a direct message that reflected the sentiments expressed by many Nigerians.

Lawmakers also accused Mr. Jonathan of hastening to fire Mr. Sanusi when the same president had failed to act on several of reports of the House of Representatives indicting corrupt officials of his administration.

Past investigations by the House indicted petroleum minister, Diezani Alison-Madueke, and officials of the NNPC. Mr. Jonathan has consistently refused to act on any of the reports.

The House committees on justice and legislative compliance are to compile the names of all officials of government indicted in its investigations, and forward same to the president for immediate compliance, the House resolved Thursday.

“In a democracy, the rule of law and not the rule of man is the only condition that can guarantee freedom and protect the rights of the citizen,” said Minority Whip, Samson Osagie, who raised the matter for discussion hours after the presidency announced Mr. Sanusi’s removal.

Mr. Osagie said the president breached the law establishing the CBN, as the approval of the Senate is required to order the removal of the CBN governor.
Mr. Sanusi has said he will challenge the president’s directive in court.

While the Senate made no mention of the suspension order, beyond announcing Mr. Jonathan’s new nominee to the post, the House of Representatives degenerated into chaos Thursday as lawmakers either kicked against or back Mr. Jonathan’s move.

A few members, who backed the president, said he acted well within his mandate and was right to fire the defiant CBN governor.
Deputy Majority Leader, Leo Ogor (PDP-Delta) said the suspension was only a part of a process to the eventual removal of Mr. Sanusi.

Another lawmaker, Pally Iriase challenged Mr. Jonathan to disclose allegations of “various acts of financial recklessness and misconduct,” he gave as reason for the CBN governor’s suspension.

“We have been talking about impunity. This is yet another show of impunity by this administration. The suspension is personal and is not unconnected with the recent disclosure of missing money from the NNPC,” Mr. Iraise said.

“It is a clear case of if you cannot shut him up, ship him out. It should be condemned in its totality.”

Credit: , Premium Times

Breaking News: CBN Governor Sanusi Lamido Sanusi suspended

  The Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi has been suspended by President Goodluck Jonathan.

Here is a statement the President’s Special Adviser on Media and Publicity, Reuben Abati just released:

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;
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 will 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.

Reuben Abati
Special Adviser to the President (Media & Publicity)
February 20, 2014