owobokiri: If he is put under house arrest for being a big threat not just to the economy but the state with all his uncouth outbursts (and you know he did reaa damage with those open letters) and his deputy told to take over till june, what will your likes do other than to go to premium times and sahara reporters to moan and whine as usual? ACN memebers of APC would even abandon their suport for him pronto since his deputy might be from the sw as clannish traits take over. His fulani royal heritage is getting into his small brain but who cares apart from those who want to? Two sitting sultans were disgraced in this country and nothing happened. Before then, tales have it that the sun wont set if you do as much as look into the face of a sultan.. Go figure. Blame GEJ for his calm approach otherwise this guy would have gone by now if a tougher character is at the helm..

Blue Magic: GEJ Jonathan is the biggest fool Nigeria has ever had as a president. Corrupt, incompetent, unsure, weak leader, insincere, clueless. Jonathan should be the one to resign

winniz:
I said he should be given a Sack letter if he refuses to resign he should apply force. GEJ has the right to sack him after all OBJ sacked Ministers during his tenure and their was no process involved, so why would GEJs own be different?

callmenow: The grounds under which the Governor, Deputy Governor or Director of the Central Bank of Nigeria can be removed from office are spelt out in Section 11 of the Central Bank of Nigeria (Establishment Act0, 2004. Section 1 of the Central Bank of Nigeria (Establishment Act) provide thus:

(1) A person shall not remain a Governor, Deputy Governor or Director of the Bank if he is-

(a) a member of any Federal or State legislative house; or

(b) a Director, officer or employee of any bank licensed under the Banks and Other Financial Institutions

Act.(2) The Governor, Deputy Governor or Director shall cease to hold office in the Bank if he-

(a) becomes of unsound mind or, owing to ill-health, is incapable of carrying out his duties;

(b) is convicted of any criminal offence by a court of competent jurisdiction except for traffic offences or contempt proceedings arising in connection with the execution or intended execution of any power or duty conferred under this Act or the Banks and Other Financial Institutions Act;

(c) is guilty of a serious misconduct in relation to his duties under this Act ;

(d) is disqualified or suspended from practising his profession in Nigeria by order of a competent authority made in respect of him personally;

(e) becomes bankrupt;

(f) is removed by the President : Provided that the removal of the Governor shall be supported by two-thirds majority of the Senate praying that he be so removed .It is clear that by Section 11 subsection 2 (f) of the Central Bank of Nigeria (Establishment) Act that the president can remove the Governor of the Central Bank of Nigeria provided the removal is supported by two thirds majority of the Senate praying that he be so removed. In other words, the President can remove Sanusi Lamido if he is supported by 72 Senators that represents two-thirds majority in the Senate of the Federal Republic of Nigeria. It follows that Sanusi Lamido refusal to heed to the request of President Jonathan that he resign his appointment as the Governor of the Central Bank of Nigeria is proper.

The president is spoiled for choice. Options a or b above are plausible grounds for dismissals. Jonathan needs his attorney general to earn his pay. I can intervene here he does not know how to apply this clauses. This is in keeping with Jonathan's beholding to the 'rule of law'

shymexx:

Err...perhaps, we should use a few excerpts from the article as a guide. And fam, you would have to help me out here by answering a few questions.

- "The Director, Corporate Communications Department, CBN, Mr. Ugochukwu Okoroafor, confirmed the development in a chat with one of our correspondents in Abuja on Thursday.He said the governor used the opportunity provided by the “family meeting” to clear doubts surrounding the expiration of his tenure."

- "Okoroafor said, “The CBN is an important organisation in the economy of this country and we have to be careful in whatever we do because our actions send a strong message to the economy as a whole.“The governor had a meeting with officials of the central bank and it was like a family meeting; and in that meeting, he made it clear that he is not going anywhere until his tenure expires in June.“He is not proceeding on retirement leave by March as being speculated; rather, he will be retiring on June 2 this year when he will be completing his five-year single tenure.”

Questions:

1). Why the need for a "family meeting?

2). Why is the CBN governor adamant about not going anywhere till his tenure expires in June?

3). And why is he cancelling his retirement leave that was initially scheduled for March?

PS: The questions were based on what Mr. Okoroafor, the CBN media director said, and not from a 'source'.

winniz: GEJ should just remove the Aboki forcefully if he remains defiant or declare his position vacant, GEJ is just too quiet to be a President that is the reason everyone insults him and gets away with it, during OBJ regime he was terrorising everyone with EFCC.

winniz: At Mynd 44

GEJ by March should give him a dismissal letter, If he refuses to resign he should apply force by Locking up his Office and getting him arrested as well, it was GEJ that employed him so if his services are no longer needed he can be sacked as well, Sanusi has always been incompetent to be the CBN Governor for crying out Loud, all his banking policies has always be useless that Mallam should just go.

akpomeme:
Stealing peoples businesses and handing it over to his cronies is your definition of stabilising our economy? When last can an average entrepreneur take a loan from a bank because of sanusi's policies... Bullocks!!!

Do you have proof that he stole people's business and handed it over to his cronies? If you want to speak, be sure to back it up with proof.

rudedough:
[b]ANSWERS CULLED FROM THE ARTICLE:

1). Why the need for a "family meeting?"

The "Family Meeting" is just a cordial meeting between CBN staffs. Nothing spectacular or is Ugochukwu Okoroafor and Sanusi Lamido related?
Read! “The governor had a meeting with officials of the central bank and it was like a family meeting"

2). Why is the CBN governor adamant about not going anywhere till his tenure expires in June?

Because he never said he will be retiring by March, it's a rumor. He said he will announce his retirement officially by March and retire at the end of his tenure.
Read! "According to Okoroafor, the CBN governor will formally announce his retirement in March, when his successor is expected to be named, and will remain in office until June 2."

3). And why is he cancelling his retirement leave that was initially scheduled for March?

Again, he never scheduled his retirement for March, it was mere speculations.
Read! “He is not proceeding on retirement leave by March as being speculated; rather, he will be retiring on June 2 this year"

spec·u·late - form a theory or conjecture about a subject without firm evidence.

I hope i have answered your questions assiduously, hopefully you'll smell the coffee next time.[/b]

Mayor_of_Lagos: The controversy surrounding the planned exit of the Governor of the Central Bank of Nigeria, Mr. Lamido Sanusi, deepened on Thursday with the governor insisting that he would not quit the post until his term expired on June 2, 2014.

In keeping with his vow, which analysts see as a direct confrontation with President Goodluck Jonathan, Sanusi has said he will not proceed on his terminal leave in March as initially being speculated.The President had reportedly asked the CBN governor to resign immediately because of the alleged deliberate leakage of the letter that Sanusi wrote to him in which the governor accused the Nigerian National Petroleum Corporation of not remitting $49.8bn crude oil revenue to the Federation Account.Sanusi was said to have denied leaking the letter to former President Olusegun Obasanjo or anyone for that matter, and allegedly told the President that he could only be removed by two-thirds of members of the Senate as required by law.The governor reportedly told the President that the letter was available in the Presidential Villa, the Ministry of Finance and the CBN, and wondered how he could be accused of leaking it.

One of our correspondents learnt on Thursday that Sanusi expressed his determination to remain in office until the expiration of his one-term tenure of five years on June 2 during a meeting with top management officers of the bank on Wednesday.The Director, Corporate Communications Department, CBN, Mr. Ugochukwu Okoroafor, confirmed the development in a chat with one of our correspondents in Abuja on Thursday.He said the governor used the opportunity provided by the “family meeting” to clear doubts surrounding the expiration of his tenure.Okoroafor said, “The CBN is an important organisation in the economy of this country and we have to be careful in whatever we do because our actions send a strong message to the economy as a whole.“The governor had a meeting with officials of the central bank and it was like a family meeting; and in that meeting, he made it clear that he is not going anywhere until his tenure expires in June.“He is not proceeding on retirement leave by March as being speculated; rather, he will be retiring on June 2 this year when he will be completing his five-year single tenure.”According to Okoroafor, the CBN governor will formally announce his retirement in March, when his successor is expected to be named, and will remain in office until June 2.

Both chambers of the National Assembly declined comments on the alleged plan by the Federal Government to sack Sanusi.The spokesperson for the Senate, Eyinnaya Abaribe, and his counterpart in the House of Representatives, Mr. Zakari Mohammed, said the National Assembly would not be dragged into “a mere rumour.”Abaribe, in a telephone interview with one of our correspondents, said, “The Senate will not make any comment on any issue that is not before it. It remains a rumour until it is properly communicated to the Senate.”Mohammed also said, “I have no comment to make. The National Assembly as an institution will not be dragged into any controversy based on a mere allegation.”Efforts to get the Presidency’s reaction did not yield any positive result as the Special Adviser on Media and Publicity to the President, Dr. Reuben Abati, did not respond to calls made to his mobile telephone line, nor respond to text messages sent to the same line.


http://www.punchng.com/news/i-wont-quit-before-june-sanusi-dares-jonathan/

iheneme: Recall that Sanusi was in a hurry to allege that $49.8b was unaccounted for, and alot of people called for the head of GEJ. After reconciliation the figure has dropped to about $12b, yet Sanusi didn't deem it fit to apologise to Nigerians for misinforming us in the first place or resigning. I won't be surprised at the result of further reconciliation.

shosky1794:

These are the kinds of advice the President gets everyday and we all know where that has led him and still leading him. Most of the President's advisers don't even want him to succeed but I'm not too sure he knows this.
If only he can change some of these advisers to people who have his real interest at heart then I can bet that his political fortune will change for good.

shymexx:

The fact that you couldn't discern the importance of the "family meeting" based on seriously of it, from what Mr. Okoroafor alluded to, just shows you don't understand the article.

And also, with all due respect, if you don't know the difference between "retirement leave" and "retirement" - then there's no point trying to educate you. Sanusi's retirement leave was scheduled for March this year and he was meant to be on leave for 3 months till his tenure expires in June. However, for cancelling the retirement leave, that shows something is wrong somewhere.

Anyway, you may continue your argument with those you were arguing with, before I jumped into the fray.

ISpiksDaTroof:

So, $12Billion is now equivalent to 12 cents thats very minuscule so Sanusi should be the one apologizing for your President encouraging flagrant corruption?

Wow.

pro01:

Thank you very much. People who say the President and Commander-in-Chief does not have the power to remove the CBN governor are either clueless or mischievous. In countries like Nigeria, and much of the developing world (even in places like Russia), there are a million and one ways to by-pass the 'academic' measures put in place to preserve the supposed independence of institutions like the CBN or EFCC. It all boils bown to the temperament and will of the individual in power.

Chronic amnesia would not allow some nitwits remember how Yar'Adua methodically got rid of Nuhu Ribadu and ran him out of town when he was becoming too big for his britches. What does the so-called law say about removing the EFCC Chairman, and how does it differ from removing a CBN Governor? I believe Yar'Adua (never mind OBJ sef) would have easily gotten rid of Sanusi by now if he were president.

Some of us that are ardent admirers and supporters of Goodluck Jonathan are frustrated by his gentleness, equanimity, and tolerant disposition. Then again, this is why he is regarded as the most democratic leader we have had yet.

Democratic leader indeed. Yet he will not allow his region Rivers and Bayelsa to rest one month. He is simply to afraid like a jelly to touch any Hausa Fulani or yoruba. He fears them like Ojiji calabar. Na Amaechi body him get power. If Rivers where to be in the North, CP Mbu or Nyesom Wike would have been history long ago.

X-factoria:


Many of you are getting something wrong here. The Presidency is not removing SLS before June 2. He is only being asked to proceed on leave and there are many ways to achieve this.

Based on various allegations regarding the unreconciled accounts of the CBN and the fact that its auditors have refused to sign its account, and the breach of the CBN acts and other allegations of misconduct leveled against SLS, the Presidency can call for an investigation and in that instance ask Sanusi to proceed on leave pending the conclusion of the investigation under the guise that his being in office could interfere or compromise investigation. That would technically not be a removal!

So what we need to understand is the grounds on which the CBN governor would be asked to proceed on leave. I think, although I'm not sure that it is in the purview of the Board of CBN to ask Sanusi to step aside/go on leave based on the need for an investigation. I guess Sanusi realizes this and have rallied their support by calling a supposed family meeting. But then, the presidency can get the EFCC involved to pressurized the governing board of the CBN to ask Sanusi to proceed on leave on grounds of investigation. The members of the board would definitely chicken out with the EFCC involved. Here is the composition of the board:

(a) a Governor who shall be the Chairman;
(b) four Deputy Governors;
(c) the Permanent Secretary, Federal Ministry of Finance;
(d) five Directors; and
(e) Accountant-General of the Federation

All members b - e are within the influence of the Presidency. Bottom line, the Presidency can still hang SLS if it so wishes!

winniz:
I said he should be given a Sack letter if he refuses to resign he should apply force. GEJ has the right to sack him after all OBJ sacked Ministers during his tenure and their was no process involved, so why would GEJs own be different?

rudedough:
You've fallen neck deep into the propaganda, it's difficult for you to come out. Okoroafor has already told you that the "RETIREMENT LEAVE" is a speculation. If you may, please show me where Sanusi scheduled this "Retirement Leave"

Read! "He is not proceeding on retirement leave by March as being speculated;" Do you get it now?

While unbiased newspapers are stating clearly that the CBN Governor has called the "RETIREMENT LEAVE" a hoax, PUNCH NEWSPAPER is still twisting the words of the CBN Governor.

Can you smell the coffee now?

rudedough: PUNCH NEWSPAPER has lost its credibility. It is now known as an APC propaganda media house.

Sanusi may be pleading with the President to reconsider his decision but PUNCH NEWSPAPER and their unceasing propaganda machine are inciting Nigerians that Sanusi is daring the President.

Sanusi has worked hard with the President all these while, he's one of the reason our economy stands at No. 1 in the world today. I think the APC wants the President to sack Sanusi and loose his most valuable assets.

These APC politicians don't care about us or our country's economy, they care more about getting into power. They don't mind playing politics with the future of Nigerians. The desperation is obvious and I am 100% sure Sanusi will not dare the President in any way. Sanusi is educated and not a thug like ****** the frog eye APC chieftain. Rudedough is not buying this $hit.

shymexx:

It seems comprehension is your biggest problem, or perhaps, you have never worked in a proper company before. Retirement leave before retirement is normal practice in every organisation - however, the length varies. For Sanusi to go publicly on Bloomberg, March 2013, to announce that he would be doing a single term and that his successor should be announced 2-3 months before that, shows he had plans to take retirement leave before his final retirement. However, he's adamant about staying-put till his retirement date, because GEJ's allegedly trying to force him out (even before his retirement leave) - just to prove a point that he can't be forced out.

I still don't get how retirement leave can be a hoax, when it's normal practice everywhere in the world.

Intelligent/smartness isn't about running around trying to argue based on everything in black and white - it's about using your brain to decipher things that aren't clearly spelled out, by connecting the dots.

PS: I believe his tenure ends on March 31st and the remaining 2 months (until June 2) would be used to transfer everything to whoever is selected to replace him.

I'm out!

nnenna.1:
The issue is that we can't take any of his figures seriously. What if it is actually $12m and not $12b? What if it is was only $12k?

What if it was nothing and SLS is just incompetent with his figures?

shymexx:

It seems comprehension is your biggest problem, or perhaps, you have never worked in a proper company before. Retirement leave before retirement is normal practice in every organisation - however, the length varies. For Sanusi to go publicly on Bloomberg, March 2013, to announce that he would be doing a single term and that his successor should be announced 2-3 months before that, shows he had plans to take retirement leave before his final retirement. However, he's adamant about staying-put till his retirement date, because GEJ's allegedly trying to force him out (even before his retirement leave) - just to prove a point that he can't be forced out.

I still don't get how retirement leave can be a hoax, when it's normal practice everywhere in the world.

Intelligent/smartness isn't about running around trying to argue based on everything in black and white - it's about using your brain to decipher things that aren't clearly spelled out, by connecting the dots.

PS: I believe his tenure ends on March 31st and the remaining 2 months (until June 2) would be used to transfer everything to whoever is selected to replace him.

I'm out!

Aigipan:

personally i use to think you are partisan especially on the Oduah thread but i was wrong. Punch may have over estimate what happened really

I'm not a political person and I have no political affiliation. I stand for what is right and I am not afraid to stand against that which is wrong.

That's the rule, that's my rule.

qtx:


this is what you get when you put a stange person you dont know an extremist, fundamentalist, tyrant and rebel into a sensitive position.
This man SLS is nothing lessthan boko hrama in this govt. Infact he is a time bomb ticking and waiting to explode by 2015.
GEJ do away with the dry bones ojare.

Mynd_44:
The office of the Central Bank Governor is not a ministerial appointment. It is one that involves a 4 year term which a candidate is endorsed by the president and confirmed by the senate. A minister on the other hand can be fired anytime and retired but not the CBN governor.

GEJ cannot issue him a sack letter, it is impossible and void. If you want a CBN governor out, you need the president and 2/3 of the senate else, he stays.

winniz: GEJ should just remove the Aboki forcefully if he remains defiant or declare his position vacant, GEJ is just too quiet to be a President that is the reason everyone insults him and gets away with it, during OBJ regime he was terrorising everyone with EFCC.

nnenna.1:
The issue is that we can't take any of his figures seriously. What if it is actually $12m and not $12b? What if it is was only $12k?

What if it was nothing and SLS is just incompetent with his figures?

rudedough:

[b]I just read your news from Thisday and i discovered that this conversation was held over the telephone.

* Effort to contact Sanusi for a verification failed

* Effort to contact the President's office for verification failed too... But

"a source" was there and he heard the whole conversation both from the caller's side and receiver's side

"a source" lives with Sanusi both in his office and bedroom.

"a source" provide the news and "another source" confirms it and "more source" makes the news authentic.

Isn't "a source" the same person that said President Jonathan was admitted in London after his birthday party for drinking excess ogogoro. But later we discovered that "a source" lied because GEJ was admitted as a result of food poisoning in Gambia.

This "a source" must be a very good private investigator.

I will love to meet this guy "a source".

SMH for you and "a source"... Until you take a picture with "a source" and upload it on Nairaland, i will not believe any word from "a source".[/b]