House Condemns Sanusi's Suspension


BEVERLY HILLS, February 20, (THEWILL) - The House of Representatives Thursday condemned the suspension of the Central Bank of Nigeria (CBN) Governor, Mallam  Sanusi Lamido Sanusi, by President Goodluck Jonathan.

The House said the suspension ran foul of the CBN Act, which does not envisage suspension but removal.

The House consequently mandated its Committees on Justice and Legislative compliance to compile the list of public officers who have been indicted by various investigative committees, which the president has refused to act on.

The House took these decisions after adopting a motion moved by Deputy Minority Whip, Hon.

Samson Osagie (APC, Edo).
Osagie, who came under matters of urgent national importance, submitted that the suspension of the CBN governor was in violation of the CBN Act as amended.

He argued that only section 11(7) of the CBN Act gives the President Powers to remove the Governor, subject to the approval of two-third majority of the Senate.

According to him, "The allegation of recklessness by the Financial Reporting Council upon which he was suspended did not indicate whether the CBN was giving fair hearing in accordance the constitution of the Federal Republic.

" He maintained that "The suspension is coming at a time when the CBN governor made unresolved allegation of missing funds or unremitted $20billion into the Federation Account by the NNPC, which is currently before the National Assembly, as well as the alleged corruption in the kerosene subsidy regime, among others.

" Osagie, who is the Deputy Minority Whip, submitted that the National Assembly had made enormous resolution bordering on corruption against certain public officers for which the President has refused to act.

"The Senate is engaging a foreign financial expert to audit the NNPC account and yet, the governor who made the allegation and who is also is a key figure on the matter was suspended, this has proven that there was something to hide.

"This House has recommended the sack of the Director General of Securities and Exchange Commission (SEC), Ms.

Aruma Oteh, and many other recommendations of the House and yet they were not sacked or suspended," he said.

He expressed concerned over the uncertainty the changes may cause the economy and the financial effect into the market, with the Naira already depreciating against the dollars and market shareholders.

However,  the Deputy Leader, Hon.
Leo Ogor, in kicking against the motion argued  that the action of the President to suspend Sanusi was a process that would lead to removal as stipulated in the CBN Act.

Ralph Nnana Igbokwe (PDP, Imo) also argued that section 11 of the CBN Act empowered Jonathan to suspend the governor.

Nkoyo Toyo (PDP, Cross River) however cautioned the House not to politicise the matter but look at its merit.