Sanusi: Is this How APC Plans to Run the Economy?

 fraudulent loans and engaging in insiders credit abuse!

As we all know, the main responsibility of the CBN is to act as the banker to the government and to provide economic and financial advice to the Federal Government.  From what is coming out now, it is clear that the CBN, under Sanusi, is not primed to carry out this all important responsibility to the government.  As the FRCN Report has shown, there is no credibility, integrity and professionalism in the CBN system under Sanusi.  It is heart-rending to hear that a central bank can compromise joint external auditors and that Sanusi threw corporate governance out of the window. By taking important decisions alone like that of the annual financial statement, the suspended CBN Governor deprived the nation the services of the Board that was carefully chosen to regulate monetary policies in the land.

It is quite obvious that Sanusi Lamido Sanusi was too distracted to be an efficient and competent CBN Governor.  The many reports of his peccadilloes and his widely advertised dream of becoming the Emir of Kano when the incumbent is still alive did not help matters.  Is it therefore surprising that under Sanusi's watch, the Naira that used to exchange for about $130 is now exchanging for about $163? But what is indeed baffling for many watchers of Nigeria is the manner that the APC is defending Sanusi, a man who has heaps of fraud allegations hanging on his neck.  This is the same APC that shouted vociferously for the removal of Stella Oduah for allegations of corruption; how come the same people are now decorating and canonizing Sanusi for even more heinous crime?  So this is how APC plans to run the Nigerian economy if it comes to power!

Mr Kayode Ojo sent this piece from Ketu, Lagos via  [email protected] mailto:[email protected]