Suspended Governor of the Central Bank of Nigeria (CBN) has revealed his intention to challenge his suspension by President Goodluck Jonathan in court.
Speaking in an interview with CNBC Africa while still in Republic of Niger on official assignment, Sanusi explained that he would challenge his suspension, to avoid setting a precedent for the sack of future CBN governors.
“There is a legal question of whether the president has the authority to suspend the governor and whether suspension is not removal. It will be helpful to establish the principles by court”, he said.
“If it is not challenged, the next Central Bank Governor cannot be independent, for fear of being suspended by a politician. I do plan to have the courts confirm if indeed that authority exists and I will challenge it”.
“Even if I challenge it, I will not go back to the job. Even if I challenge it successfully, I will not go back to it. I think it will be in the interest of the institution for the courts to establish once and for all if the president has the powers to do this”.
Although he was not personally notified of his suspension, he confirmed that he was aware of his suspension, and he had already handed over.
“Well, I have been told by my office that a letter was received. As you know, I flew in this morning to Niamey along with other governors of West African Central Banks to meet with the president of Niger and the president of Ghana…Fortunately, I came in with my VP Sarah Alade, whom I have been asked to hand over to.
“I have left the meeting to hand over to her. I have just met the Nigerian Ambassador to Niger, who confirmed to me that the president asked him to inform me of the decision”.
Sanusi also denied accusations of acts of financial misconduct and recklessness, saying, “I don’t know what they are talking about. When I come back, I will see what those allegations are…I don’t think there is any issue raised that has not been raised before. We all know what this is about. This is about consequences for decisions I have taken…
This is something that is long overdue. I am surprised it took them so long. Basically, my concern is for the safety of the market…I have had a wonderful time in service to my country. I would not want to see all of my work unravelled. No individual is worth it”.
On arriving Nigeria from Niamey where he received notice of his suspension, Sanusi was arrested and his travelling documents seized by officials of the State Security Service of Nigeria. However, he was released after a short while.
He was arrested shortly after his plane landed at the ExecuJet Terminal of the Murtala Muhammed International Airport in Lagos. They stopped him from moving, saying he would remain with them till the director of the SSS in Lagos arrived at the airport. But they released him after getting instruction from their boss through the telephone.
After he was freed, Sanusi joined former Minister of the Federal Capital Territory, Nasir El-Rufai, and other friends, to drive out in a convoy to a part of Lagos where he would plan his next move.
Despite FG’s claim of financial reckless and misconduct during Sanusi’s tenure, analysts have continued to link his removal to the ex-governor’s claim that $20bn in oil revenue was unaccounted for by the Nigeria National Petroleum Corporation (NNPC).
