Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Sanusi suspension not a witch-hunt - Okupe

21 February 2014, 06:39

Abuja - The Federal Government on Thursday said that the suspension of the Central Bank Governor, Malam Sanusi Lamido Sanusi, was not an act of witch hunting.
A statement signed by the Senior Special Assistant to the President on Public Affairs, Dr Doyin Okupe, said the suspension did not deviate from the anti-corruption drive of the Jonathan administration.

It stated that the issues which led tom then suspension dates back to April 2013 following the submission of the CBN audited accounts for December 31, 2012 and which was submitted to the president by the apex bank.

The statement said there were several grievous issues bothering on impunity, incompetence, non-challance, fraud, wastefulness, and gross abuse of and non-compliance with provisions of the Public Procurement Act 2007 by Sanusi.

This, it stated, caused Mr President to issue a 22-paragraph query to the suspended CBN Governor on May 4, 2013.

It stated that the explanation by Sanusi was forwarded to the president on May 22, 2013.
“After painstaking analysis and examination, the response was forwarded to the Financial Reporting Council of Nigeria for further scrutiny and professional advice.”

“The Financial Reporting Council of Nigeria thereafter forwarded a 13-page response to Mr President with various critical observations and far-reaching recommendations,” it stated.

Then statement urged Mr President to invoke the powers conferred by Section 11(2) (f) of the CBN ACT 2007 or invoke Section 11 (2) (c) of the Act and cause the Governor and Deputy Governors to cease from holding office in the CBN.

“It is also important to note the unrestrained manner, recklessness and impunity with which the CBN Governor had governed the apex bank in the last few years.”

“In 2013 alone, the suspended CBN Governor single-handedly made spurious donations and awarded questionable contracts totalling N163 billion to various institutions.”

It stated that the donations were without recourse to the president as stipulated by Section 7 sub-section 5(a) of the CBN Act.

“Most unfortunate is the fact that of the 63 projects listed under the Corporate Social Responsibility of the CBN; only three of the contracts above one billion naira were referred to the Bureau of Public Procurement as required by law.”

The statement stated that it was based on this and other recommendations in the report and after further consultations among stakeholders that the president ordered the suspension

It stated that the suspension was in the interest of probity, accountability and in order to preserve the integrity and sanctity of the Nations apex bank.

“This action of Mr President is coming after a painstaking appraisal and investigation of all issues involved.”

“The fact that this has occurred at the same period that Sanusi accused the NNPC of non-remittance of 20 billion dollars to the Federation Account does not in any way derogate from the grave infractions and illegalities discovered in the audit report of the CBN and its operations.”

“For the avoidance of doubt, Nigerians should be assured that government will go to any length to ensure that Malam Sansui’s allegations against the NNPC are fully and conclusively investigated and if anyone is found culpable, they will be subjected to the full weight of the law.”

-    NAN

For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page.


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...