By SONI DANIEL
ABUJA— As the controversy over the
planned introduction of ₦5000 note
deepens, a Peoples Democratic Party,
PDP, lawmaker, Senator Ita Enang, has
accused the Central Bank of Nigeria
Governor, Sanusi Lamido Sanusi of
plotting the fall of President Goodluck
Jonathan with the ignoble plan.
Many Nigerians have kicked against the
move by the CBN to issue the new note
on the grounds that it would induce
inflation and worsen the nation’s fragile
economy but the bank is adamant over
the issue.

Speaking in an exclusive interview with
Vanguard, Enang, who is the Chairman
of the Senate Committee on Business
and Rules, described the arguments in
favour of the new note as pedestrian
and lacking in intellectual depth.
According to him, the plan amounts to a
direct devaluation of the Naira in
response to the demands of the World
Bank and an effort on the path of those
the bank had seconded to Nigeria in the
name of employment to fulfill its
mandate.

He also said apart from being at variance
with the cashless policy of the CBN and
the Money Laundering Act, the planned
introduction of the higher currency
would add no real value to the Naira or
its purchasing power.
“I pray Mr. President should be sensitive
to this and take action against the move
because I am certain the plan is intended
to embarrass the President of the
Federal Republic of Nigeria and to make
the government of Goodluck Jonathan
unpopular in years to come so that
people will not like to vote for him in the
next election.

“I think what Sanusi is aiming at with
the introduction of the plan against
Nigerians is to ensure that the people
will be so unhappy with the President
that in the next election they would not
like to vote for him.
“Mr. President should therefore call the
CBN governor to order with immediate
effect,” the lawmaker stated.
Enang also warned the 19 Northern
governors of the consequences of their
agitation for a review of the
controversial onshore/offshore
dichotomy, which was laid to rest eight
years ago.

Northern Governors Forum had last
week called for a review of the oil
dichotomy to make more revenue
available to the Federation Account for
onward sharing to all the states. They
argued that it was wrong to pay revenue
accruing to the country from offshore
proceeds to the nine littoral states.
He noted that the renewed attempt by
the governors for a review of the law
constituted a treasonable offence.
The lawmaker said, “The protagonists of
the review should be ready for the
consequences of their action. They
should know that any action in that
regard would trigger another round of
crisis in the oil sector and possibly
reduce production from the present 2.7
million barrels per day to 700 barrels per
day.

“But above all, whoever is championing
the call for the abrogation of the oil
dichotomy law, which we passed into
law many years ago, should know that it
is a treasonable offence.
“I am saying so because treason is any
act committed against the interest of the
state,” Enang said.
The lawmaker, who represents Uyo
Senatorial District of Akwa Ibom State,
berated northern states for allowing
their solid minerals to be illegally
exploited and the resources kept away
by known persons while turning round
to share in the oil proceeds from the
South.
The lawmaker said equity demands that
all parts of the country should contribute
something to the Federation Account for
sharing by the Revenue Mobilisation,
Mobilisation and Fiscal Commission,
instead of some states behaving as
parasites.

Enang absolved former President
Obasanjo of any complicity in the
onshore/offshore debacle, saying that it
was the National Assembly that passed
the bill into law after the Supreme Court
had given its verdict on the matter.

www.vanguardngr.com/2012/09/n5000-note-sanusi-plotting-jonathans-fall-in-next-election-enang/