Sanusi: Jonathan orders audit of CBN's accounts…FRC report in 6 weeks

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SECRETARY to the Government to the Federation Anyim Pius Anyim has asked the Financial Reporting Council of Nigeria (FRCN)

to audit the Central Bank of Nigeria (CBN).
Acting on President Goodluck Jonathan's directive, Anyim gave the FRCN six weeks to do job.

The audit is to examine the books showing how suspended CBN Governor Sanusi Lamido Sanusi has run the apex bank.

Sanusi was suspended last Thursday for alleged “misconduct” and “financial recklessness”.

He denied any wrongdoing, challenging his accusers to open the books.

The presidential directive – to the FRCN – is believed to be a response to Sanusi's stand on the row between him and the authorities.

The fresh audit is a follow-up to an earlier on by auditing giants Coopers and Lybrand.

Sanusi has accused the Nigerian National Petroleum Corporation (NNPC) of being unable to account for $20 billion oil

revenue. The argument was still raging when he was suddenly suspended – an action the President defended last night.

Dr Jonathan said he has “absolute power” to suspend Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi

from office.
According to him, it would have been inappropriate to have allowed Sanusi to remain in office while the report of the FRCN, which

indicted the CBN 2012 audit report, was being considered. He said because Sanusi is the chairman of the CBN board of directors, it was

mandatory for him to be out of office during investigation.

Dr. Jonathan spoke during the “Presidential Media chat” aired on national television.

“Yes, I have absolute power. The CBN is not well defined in the Nigerian Constitution,'' he said, in response to a question by one of the

panelists on the propriety of his action to suspend Sanusi.