CBN Governor In Heated Exchange With President

CBN gov says only two-thirds of Senate can remove him

By Steve Omanufeme

President Goodluck Jonathan has asked the Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi, to resign immediately on the grounds that the letter Sanusi wrote to him on the unremitted $49.8 billion oil revenue to the Federation Account, was leaked to former President Olusegun Obasanjo by the CBN governor.But Sanusi who has denied leaking the letter to anyone, has refused to resign and informed the president during the heated telephone exchange that he could only be removed by two-thirds of the Senate as required by law.

THISDAY learnt that the president had called Sanusi and accused him of leaking the letter to Obasanjo, which enabled the latter to use it as one of many allegations he levelled against Jonathan in his letter titled: “Before It is Too Late”.The president, who a source in the presidency said was very angry and was not prepared to allow Sanusi to proceed on his terminal leave in March, asked him to tender his resignation before the close of business last Tuesday.However, Sanusi denied that he had leaked his letter to Obasanjo and made it abundantly clear he would not be forced out, except he is removed by two-thirds of the Senate.He also told the president that the letter was available in the presidential villa, available in the finance ministry and available in the central bank and wondered how he (Sanusi) could have leaked the letter, which was so widely available, to a former two-term president of Nigeria who has his people all over the place.

Sanusi also expressed his surprise to the president that he was the one being asked to resign instead of the president to ask those responsible for the non-remittance of the funds to resign.His response, which threw the president aback, degenerated into a heated exchange during which Sanusi told the president that as the federal government’s Chief Economic Adviser, mandatorily required to bring issues of critical economic importance to the attention of the president, he had done a patriotic duty to his country.“He informed the president that it is necessary to deal with the issues and not the letter that had been leaked since it has since been established that it was not $49.8 billion that had not been remitted to the Federation Account, but $10.8 billion, which was still in dispute and by any stretch of imagination was still a large sum.“Sanusi felt he was being forced out for doing his patriotic duty to his country by drawing attention to the unaccounted funds. He only has two months to go, so this was a ploy to force him out and destroy his career and reputation.“He knew this and for this reason, refused to throw in the towel as requested by the president,” a source familiar with the conversation said.But the president was said to have remained adamant and insisted on the CBN governor’s resignation.

Following the exchange, Sanusi, another source said, briefed his close aides at the CBN and family of what had transpired between himself and the president. The source said he did it to shield himself from harm, as he felt his life might be in danger for defying the direct order of the president.

When contacted Wednesday on the issue, the president’s Special Adviser, Media and Publicity, Dr. Reuben Abati, did not pick up or return THISDAY’s calls and text messages.Also, efforts to get Sanusi and the CBN to speak on the matter met a brick wall.Sanusi had written to the president in September informing him that, among other issues, the Nigerian National Petroleum Corporation (NNPC) had not remitted $49.8 billion of oil revenue to the Federation Account over a 19-month period.Although the letter was not made public until December 4, 2013 when it was leaked, Obasanjo referred to it in his letter dated December 2, 2013, to the president, in which the former president also accused Jonathan of being clannish, destroying the Peoples Democratic Party (PDP), compiling a political watch-list of 1,000 people and training snipers to target opponents of the administration, among other allegations.The president had since denied all of Obasanjo's claims in his rebuttal of the former president's letter.Expectedly, Sanusi’s letter drew the ire of the opposition All Progressives Congress (APC), which called on the National Assembly to commence impeachment proceedings against the president.In addition, the Senate directed its Committee on Finance to probe the contents of Sanusi’s letter.However, Sanusi’s letter was immediately denied by NNPC, which accused the CBN governor of not only playing politics but also of being ignorant of the operations of the oil and gas sector.

Following NNPC’s repeated denials, a joint press conference was convened by the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala; Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke and Sanusi, during which it was revealed that a reconciliation process was ongoing, and had so far established that it was not $49.8 billion that had not been repatriated to the Federation Account but $10.8 billion.During the press conference, however, Sanusi attempted to distance himself from the statements made by Okonjo-Iweala and Alison-Madueke, stating that it was $12 billion that had not been remitted by NNPC.But the finance minister immediately interjected, insisting that it was $10.8 billion that had not been remitted to the Federation Account and was still in dispute.But it is not clear what would now happen to the CBN governor who has already indicated that he will leave office in March on a three-month terminal leave ahead of the expiration of his tenure in June.He had earlier written to the president last year that he would not be seeking a second term.

Clearly the Jonathan presidency must be feeling uncomfortable with Sanusi's remaining five months in office in this political season.As at last night, efforts were being made to reconcile the president and the CBN governor and create an orderly transition at the apex bank so as not to harm growing confidence in the Nigerian economy.

http://www.thisdaylive.com/articles/president-asks-sanusi-to-resign-over-leaked-49-8bn-letter/168407/

This Polymer CBN Governor should just leave. He has achieved little other than radical chit-chats.

Billyonaire: This Polymer CBN Governor should just leave. He has achieved little other than radical chit-chats.

Leave because he pointed out that taxpayers' money were missing ? This is the problem with jonathan's bootlickers, you attack the messanger instead of addressing the issues at stake. Sanusi was bad in your own thinking but tell me he was wrong when after the press conference Iweala and Diezani admitted that money was indeed missing.

You want people that will help you cover your corrupt administration but if they don't, you start name-calling. Well Jonathan can as well appoint Dokubo as the next Cbn governor so he will keep mum to the unprecedent corruption in this regime !

Interesting...

How can GEJ ask Sanusi to resign when Stella Oduah is still in active service? What an Irony.. It is only a child that sees a snake and call it fish. Disaster is lurking

Billyonaire: This Polymer CBN Governor should just leave. He has achieved little other than radical chit-chats.

Neveeeeeeer Mr. Billy the goat, it won’t happen. Let Mr. President try his popularity in Senate by securing two third majorities of the Senate to remove Mr. Sanusi.

When it`s obvious that Sanusi is an incompetent liar. Time has revealed that his `so called` bank reforms was a big sham.
The fact that he was dancing around figures (from 48 to 12) on the `missing` amount shows he is an incompetent CBN governor.
The report of the auditors on the issue has proven him wrong so he should do the needful and resign.

~Bluetooth:


Leave because he pointed out that taxpayers' money were missing ? This is the problem with jonathan's bootlickers, you attack the messanger instead of addressing the issues at stake. Sanusi was bad in your own thinking but tell me he was wrong when after the press conference Iweala and Diezani admitted that money was indeed missing.

You want people that will help you cover your corrupt administration but if they don't, you start name-calling. Well Jonathan can as well appoint Dokubo as the next Cbn governor so he will keep mum to the unprecedent corruption in this regime !

Lol !! @ TAX PAYERS money....

nairaman66: How can GEJ ask Sanusi to resign when Stella Oduah is still in active service? What an Irony..

Ibo people are the backbone of his administration, so I guess she's going nowhere. Tell them the truth and you will be put out of the system !

i like this guy

This whole drama is coming from a sense of entitlement by the President. At the root of the letter is oil revenue and the oil comes from Delta, not Kano. So who is Sanusi to raise alarm about what the owner of the resource choose to do with their money? Jonathan is acting as head of a clan, he is not Presidential at all.

It is lack of tact for the President of a Nation to say out of many ethnicities in his country a particular one is his pillar of support, and it is even very uncharismatic to defend and shield criminals on account of their ethnic background.

Sanusi has no integrity whatsoever

he is like every other Nigerian in public officer

very corrupt and no morals

I completely agree with Sanusi that the unremited $10.8billion should be of more priority to the president than the call for his resignation. A disagreement between a sitting president and his CBN Governor can be better managed than this approach the president is allegedly adopting.

~Bluetooth:


Leave because he pointed out that taxpayers' money were missing ? This is the problem with jonathan's bootlickers, you attack the messanger instead of addressing the issues at stake. Sanusi was bad in your own thinking but tell me he was wrong when after the press conference Iweala and Diezani admitted that money was indeed missing.

You want people that will help you cover your corrupt administration but if they don't, you start name-calling. Well Jonathan can as well appoint Dokubo as the next Cbn governor so he will keep mum to the unprecedent corruption in this regime !

Don't mind them, typical bootlickers!

mikeansy: Sanusi has no integrity whatsoever

he is like every other Nigerian in public officer

very corrupt and no morals

Did you mean to say aunt Princess Stealer Oduah?

If he doesn't have the balls to remove Stella Oduah, he doesn't have the balls to remove Sanusi Lamido.

By the way, WHY DOES EVERYONE DISRESPECT G.E.J

enigmang:

Lol !! @ TAX PAYERS money....

Nigeria's wealth belongs to all Nigerians not the Yorubas, the hausas, the ibos nor the IJAWS !

And by the way, while the CBN Governor has a term limit not to be altered by the President, they do not have immunity from prosecution.

If the Presidency has evidence of corruption against Sanusi, they should send EFCC after him now! Let him answer the allegations against him, at that point am sure he will have to make a decision to be either sent to jail while in office or resign!

luvinhubby: When it`s obvious that Sanusi is an incompetent liar. Time has revealed that his `so called` bank reforms was a big sham.
The fact that he was dancing around figures (from 48 to 12) on the `missing` amount shows he is an incompetent CBN governor.
The report of the auditors on the issue has proven him wrong so he should do the needful and resign.

Following NNPC’s repeated denials, a joint press conference was convened by the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala; Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke and Sanusi, during which it was revealed that a reconciliation process was ongoing, and had so far established that it was not $49.8 billion that had not been repatriated to the Federation Account but $10.8 billion.During the press conference, however, Sanusi attempted to distance himself from the statements made by Okonjo-Iweala and Alison-Madueke, stating that it was $12 billion that had not been remitted by NNPC.But the finance minister immediately interjected, insisting that it was $10.8 billion that had not been remitted to the Federation Account and was still in dispute.


Use your brains very well and see who jumped and concluded it was $10.8 Billion missing! Bottom line, you cannot be the JUDGE presiding OVER your CASE! Mrs. Diezani Alison-Madueke and Dr. Ngozi Okonjo-Iweala should resign instead!

Omen100:


Did you mean to say aunt Princess Stealer Oduah?

I am saying Sanusi is as useless and corrupt as every other Nigerian public official

and that includes Stella Oduah.

nairaman66: How can GEJ ask Sanusi to resign when Stella Oduah is still in active service? What an Irony.. It is only a child that sees a snake and call it fish. Disaster is lurking

Lol

mikeansy: And by the way, while the CBN Governor has a term limit not to be altered by the President, they do not have immunity from prosecution.

If the Presidency has evidence of corruption against Sanusi, they should send EFCC after him now! Let him answer the allegations against him, at that point am sure he will have to make a decision to be either sent to jail while in office or resign!

Why has the president not unleashed EFCC on Iweala and Diezani who couldn't account for the missing $10 000 000 000 ?

ba7man: If he doesn't have the balls to remove Stella Oduah, he doesn't have the balls to remove Sanusi Lamido.

By the way, WHY DOES EVERYONE DISRESPECT G.E.J

The Answer to the bolded above is in between your 1st statement, "The Ball-less part"

The bootlickers and attack dogs,fist on .

ba7man: If he doesn't have the balls to remove Stella Oduah, he doesn't have the balls to remove Sanusi Lamido.

By the way, WHY DOES EVERYONE DISRESPECT G.E.J

Do you expect me to respect a clueless, passive, drun.k person!! Hell no!

mikeansy:

I am saying Sanusi is as useless and corrupt as every other Nigerian public official

and that includes Stella Oduah.

no Bro, exclude Mallam Sanusi from your list, don't try to generalized it to make it look like you are on the side of the common Nigerians, you are "PPP" Aunt P. Stealer O was the one who has caught pant down.

mikeansy: And by the way, while the CBN Governor has a term limit not to be altered by the President, they do not have immunity from prosecution.

If the Presidency has evidence of corruption against Sanusi, they should send EFCC after him now! Let him answer the allegations against him, at that point am sure he will have to make a decision to be either sent to jail while in office or resign!

Mention one person G.E.J has prosecuted for Corruption.

EFCC that had N2million in their account last time we checked.

Omen100:


The Answer to the bolded above is in between your 1st statement, "The Ball-less part"

Sorry, my bad.

I used to think The Clueless One's closest allies are his worst enemies, but now i believe he is indeed his worst enemy. He appears extremely aversed to truth. Whoever screws himself up this badly

Slow and steady the FG is gradually beckoning on young boys to make radical moves. Diplomacy saves unnecessary revolution.