The Central Bank of Nigeria on Tuesday explained why it donated N100m to victims of Boko Haram bomb blasts in Kano, saying the move was within the purview of its Corporate Social Responsibility.
The explanation was in reaction to criticisms that had followed the donation since Friday when the apex bank boss, Mr. Lamido Sanusi, gave out the amount.
Civil society groups had on Sunday slammed the CBN governor, wondering why he did not make similar donations to bomb blast victims in Borno, Yobe, Plateau and Adamawa states.
While some of them urged the National Assembly to invite the governor for questioning, others argued that the donation contravened the provisions of the CBN Act.
But reacting to the criticisms, a board member of the CBN, Prof. Sam Olofin, said the donation was in line with the apex bank’s mandate.
He said the donation was not made because Sanusi was from Kano State, adding that the huge damage caused by the bomb blasts prompted the apex bank to make the donation.
Olofin said that the management of the apex bank had last Friday decided to visit Kano and Madala, Niger State, to make donations to victims of the Christmas day bomb blast there.
Unfortunately, the CBN board member disclosed that the Parish Priest of the St. Theresa Catholic Church, Madala, Rev. Fr. Isaac Achi, was not available when the team decided to visit the church to make the donation.
He said since the parish priest was not available, the governor decided to lead the delegation to the palace of the Emir of Kano to make donations to the victims in the state.
Olofin, however, hinted that the donation to the victims of the bomb blast in Madala would be made on Monday.
“The CBN intervention in Kano is very much within the scope of what the board had approved for the management. We did not go out of the mandate of the bank,” he said.
Quoting from the CBN Act, he said, “The Act in functions of management said that the governor, or in his absence, the deputy governor nominated by him shall be in charge of the day-to-day management of the bank and shall be accountable to the board for his acts and decisions.”
Olofin added, “So, there is no single action that the governor takes to which he is not accountable to the board or does not entail clearance from the board.
“Like what happened in Kano, the board is aware that the provision they made was for two donations, one in Madala and the other in Kano. They were to visit Madala first, but the priest was not available because he had travelled and that is why they went straight to Kano.”
“So, at the moment, they are trying to arrange to ensure that when the governor is available, the priest in charge of the church in Madala will also be available and some members of the board are aware that this has been rescheduled for Monday and they will go to Madala to make the donation.”
http://www.proshareng.com/news/16310

CBN and CSR in focus
CBN’s recent donations have elicited some reactions within the context of the current and divisive conversations Nigeria is currently having.

Proshare is running a poll/survey on the subject here.

In order to properly contextualise the actions of the CBN in donating to the Kano Bomb disaster – a significant development that impacted the sovereign; we present herewith some data on the institution’s CSR engagements to date and how it views its intermediation role through CSR engagements that impact on its outlook of the economy and financial markets.

The Nigerian University Capacity Building Programme

Since the late 1990s, the CBN has expanded its involvement in community based activities beyond sporting development to include other areas of community development. In response to the general concern about the decaying infrastructure in the first generation universities, the Bank attempted to provide/improve key infrastructure under the Nigerian Universities Capacity Building Programme. Following the success of the pilot scheme, the programme has since been extended to include second generation universities. The projects carried out under this capacity building programme include the construction of administrative blocks, lecture halls, laboratories, health centres, and provision of IT and V-sat equipment.



Capacity Building for Governmental And Professional Institutions

The CBN has also extended assistance to other governmental bodies/agencies in its community development efforts. Some of the institutions which have so far benefited under this scheme include the following:

1. National Assembly
To aid the development of sound legislative process, the CBN between 2003-2005, contributed the sum of N50m to build legislative capacity in the National Assembly through Senate Committee on Banking, Finance, and other Financial Institutions and House Committee on Banking and Currency. Also, the CBN sponsored the workshop of the House Committee on Capital Markets with the sum of N2.8m. The Bank also donated the sum of N500,000.00 to the House Committee on Housing & Urban Development.

2. Economic and Financial Crime Commission (EFCC)
To ensure that financial and economic crimes are reduced to the barest minimum in the country, the CBN in its support for “war against economic and financial crimes” donated the sum of N60.5m to EFCC for the purchase of Office furniture and IT equipment in 2003 while the sum of N2m was donated to the Agency for organising the National Seminar on Economic Crimes in 2005. Also the Management of the Bank sponsored 3 members of staff of the Economic and Financial Commission to attend a specialist program on Counter Fraud and Counter Corruption which held in the month of March 2007 in Reading, United Kingdom. The course was run by the Counter Fraud Service of the National Health Service, United Kingdom. It enabled them to acquire skills in intelligence gathering, investigation, fraud analysis, cyber crime, exhibit handling, witness and suspect interviews, statement writing, prosecution and media skills.

3. Investment and Securities Tribunal (IST)
The CBN contributed the sum of N10m to assist the Investment and Securities Tribunal (IST) in the discharge of its duties.

4. Financial Institutions Training Centre (FITC)
In order to enable the FITC achieve its objective of training employees of various Financial Institutions in the country, the CBN gives annual subvention to the FITC. Consequently, the CBN gave the sum of N20.5m to the FITC in 2006.

5. Seminar for Finance Correspondents and Business Editors
The 2010 seminar for Finance Correspondents and Business Editors which is the 15th in the series was held at Constantial Hotel and Suites, Benin City, Edo State from 27th to 30th, 2010 with the theme “The Blueprint for Banking Reforms in Nigeria: Issues, Challenges and Prospects.” The following topics were covered: Overview of the four pillars of Banking reforms; Reforming the Nigerian Banking Sector: Some emerging issues; Banking Reforms for Effective Monetary Policy Transmission; Rebuilding Confidence in the Nigerian Banks: the challenge of good corporate governance and professionalism: The Role of the Central Bank of Nigeria in Ensuring Sound, Safe and Reliable Banking Sector; The Nigerian Financial Crises: Lessons, Prospects and the way forward; The Role of the Media as a catalyst and Agent of Promoting Development in the Financial System. It will be recalled that the Finance Correspondents and Business Editors Seminar was initiated in 1996 to foster a closer relationship between the Bank and the Media. It is also a platform used to facilitate better education and enlightenment of the public through capacity building of Finance Correspondents and Business Editors.

6. Professional Institutions
The CBN gives assistance to professional bodies such as the Nigeria Economic Society (NES), Chartered Institute of Bankers of Nigeria (CIBN), Institute of Chartered Accountants of Nigeria (ICAN), the Nigeria Bar Association (NBA), amongst others, to enable them be effective and efficient in service delivery. The Bank also sponsors its employees who are members of these professional associations to the Annual General Meetings of these bodies. A good number of CBN staff are members of these professional bodies.


Sports Development

To assist in the promotion and development of sporting activities in Nigeria, the CBN has been sponsoring various sporting events. These include Lawn Tennis, Golf Tournament and All Financial Institutions Football Competition.

Lawn Tennis
The 32nd edition of the Senior Open Tennis Championship was held from 27th May to 5th June, 2010 at the National Stadium, Suru-Lere, Lagos.
       
Since 1978, the CBN has consistently sponsored the lawn tennis tournament which has become the stepping stone for the success of the game of tennis in Nigeria. Notable tennis stars like David Imonite, Sunday Maku and Shehu Lawal, etc had featured and won trophies in the various editions of the tournament. The Bank in 2007, introduced the CBN Junior Tennis Championship to ensure that new stars are discovered and developed early enough. The championship which serves as a feeder to the senior category is open to boys and girls of 10, 12, 14 and 16 years of age. The 4th edition of the junior championship was held at the Lagos lawn Tennis Club, Race Course, Lagos from 22nd to 28th February, 2010 and the winners (boys and girls of age 16 category) participated in the Senior Open Championship held from 27th May to 5th June, 2010. It is worthy to note that in recognition of the contributions made by the Bank towards the development of sports in the country, the Champion Newspaper Ltd awarded CBN the “Sporting Corporate Sponsor of the Year 2007 (Tennis)” The award according to the Newspaper was in recognition of CBN’s commitment to the development of sports, particularly the game of Tennis.

CBN Governor's Golf Cup
In continuation of its commitment to the development of sports the Bank in 2007 sponsored the maiden edition of the CBN Governor’s Golf Cup Tournament at the IBB International Golf & Country Club, Maitama, Abuja from 2nd to 4th November, 2007. The objective of the tournament is to create a relaxed and recreational setting for executives in public and private enterprises as well as corporate bodies to interact. This is in addition to the socio-economic benefits in terms of friendship and business opportunities derivable from the game. The 4th edition of the tournament took place at the IBB International Golf & Country Club, Maitama, from 19th to 21st November, 2010.


All Financial Institutions Football Competition

The final of 2010 edition was played at the Aper Aku Stadium, Markurdi, Benue State on 27th November, 2010 with Union Bank FC emerging winners. The team defeated Unity Bank FC 1 – 0 to lift the trophy. The CBN in conjunction with Nigeria Football Federation (NFF) sponsors this competition to foster closer and good relationship among staff of banks, insurance companies, Security and Exchange Commission and other financial institutions. The competition has been on since 1979, when the maiden tournament was held to mark the 20th anniversary of CBN. It is worthy to note that football stars like Henry Nwosu, Stephen Keshi, Monday Odiaka, Kanu Nwankwo, etc had featured in the competition.


Other CBN Aid Programmes

Library Services

The Bank has standard library at its Headquarters, Lagos and all branches where current editions of books, journals and other publications of various fields of study can be accessed. These Libraries are open to the general public. Research students from various institutions of higher learning always use the libraries for their projects among others.

Economic & Financial Data Management And Dissemination

The CBN has a database for the economic and financial reports which enables it to carry out one of its mandate as adviser to the Government. In addition, information are disseminated to the public by way of publication of CBN Annual Report, Economic and Financial Review, Half Year Report, Statistical Bulletin, CBN Briefs and Occasional Papers on topical issues (eg Consolidation of Nigeria’s banking Industry)

Other Financial Aid

The Bank is also involved in several other community development initiatives across the country. These include:

1.    Construction of a clinic at Yangoji Lepers Village in the FCT at the cost of N3.132m. The project is being sponsored from the alms collection scheme instituted by staff of the Bank.
2.    The Bank in 2002 built two Police Posts for the Nigerian Police Force at Satellite Town, Lagos at the cost over N18 million.
3.    The sum of N6m was donated to FCT in 2006 for Advocacy and Publicity of FCT Reforms.
4.    N4m was donated to Anti Fraud Foundation of Nigeria in 2004
5.    N2m was donated to Child Care Trust in 2004
6.    N1.8m was donated to Farm Management Association of Nigeria
7.    Rehabilitation of borehole project at the Church of Christ in Nigeria (COCIN) Hospital and Rehabilitation Centre, Mangu, Jos, at the cost of NN460,000.00 and commissioned in May, 2006
http://www.proshareng.com/news/16286

Nawa for all this your propaganda for sanusi.Does he pay you?

Kizilala:

Nawa for all this your propaganda for sanusi.Does he pay you?

LOL
Bros, not propaganda sir. Just bringing to notice facts, so you wont be misinformed or at least have balanced info.

Jarus:

The Central Bank of Nigeria on Tuesday explained why it donated N100m to victims of Boko Haram bomb blasts in Kano, saying the move was within the purview of its Corporate Social Responsibility.
The explanation was in reaction to criticisms that had followed the donation since Friday when the apex bank boss, Mr. Lamido Sanusi, gave out the amount.
Civil society groups had on Sunday slammed the CBN governor, wondering why he did not make similar donations to bomb blast victims in Borno, Yobe, Plateau and Adamawa states.
While some of them urged the National Assembly to invite the governor for questioning, others argued that the donation contravened the provisions of the CBN Act.
But reacting to the criticisms, a board member of the CBN, Prof. Sam Olofin, said the donation was in line with the apex bank’s mandate.
He said the donation was not made because Sanusi was from Kano State, adding that the huge damage caused by the bomb blasts prompted the apex bank to make the donation.
Olofin said that the management of the apex bank had last Friday decided to visit Kano and Madala, Niger State, to make donations to victims of the Christmas day bomb blast there.
Unfortunately, the CBN board member disclosed that the Parish Priest of the St. Theresa Catholic Church, Madala, Rev. Fr. Isaac Achi, was not available when the team decided to visit the church to make the donation.
He said since the parish priest was not available, the governor decided to lead the delegation to the palace of the Emir of Kano to make donations to the victims in the state.
Olofin, however, hinted that the donation to the victims of the bomb blast in Madala would be made on Monday.
“The CBN intervention in Kano is very much within the scope of what the board had approved for the management. We did not go out of the mandate of the bank,” he said.
Quoting from the CBN Act, he said, “The Act in functions of management said that the governor, or in his absence, the deputy governor nominated by him shall be in charge of the day-to-day management of the bank and shall be accountable to the board for his acts and decisions.”
Olofin added, “So, there is no single action that the governor takes to which he is not accountable to the board or does not entail clearance from the board.
“Like what happened in Kano, the board is aware that the provision they made was for two donations, one in Madala and the other in Kano. They were to visit Madala first, but the priest was not available because he had travelled and that is why they went straight to Kano.”
“So, at the moment, they are trying to arrange to ensure that when the governor is available, the priest in charge of the church in Madala will also be available and some members of the board are aware that this has been rescheduled for Monday and they will go to Madala to make the donation.”
http://www.proshareng.com/news/16310

If the CBN made the donation cos of the damage of the Kano incidence why are they now extending it to the church blast victims, or is it for cover up. The Madalla blast happened about 2 months ago why must CBN wait for the Kano incidence before they can give their donations (funny enough making the donations on same day)? Something is not adding up here.

I have been waitinf for Jarus response/reaction to the issue. Thank God, he didn't dissapoint.

jarus, how much did sanusi Paid u for this cheap propaganda,

The cheque will be ready by Monday? That means there was no intention in the first place

Priest no dey available indeed, dem tell am say them dey come he leave them travel

PHIPEX:

If the CBN made the donation cos of the damage of the Kano incidence why are they now extending it to the church blast victims, or is it for cover up. The Madalla blast happened about 2 months ago why must CBN wait for the Kano incidence before they can give their donations (funny enough making the donations on same day)? Something is not adding up here.

Just ask Sam Olofin this question. For such a man like Sam, A man I respect so much to be doing image laundry and damage control for Sanusi speaks volumes of what happens to distinguished men in positions like that. You wait for Kano to be bombed then decide to start the charity work in the name of CSR. Please get a smarter explanation.

I might be the only one observing this but I know that the single largest amount spent on CSR here is not up to #30m. How come CBN's heart got enlarged when it got to kano bombings?

Even when Abuja, where CBN has its headquarters was bombed, what did CBN (read Sanusi) do?

Why did CBN wait for almost two months before they could decide to commiserate with the catholic church in Madalla?

Abeg, we are no kids here!

LOL.

Did I endorse the actions? No.

Was this decision taken by Sanusi alone? As you can see, no.

Is it a right decision? Whether by SLS or CBN board, no.

Should SLS take the whole blame? Maybe, because he takes credit for the good actions of CBN in the past.

Does the public deserve to hear the CBN's side too? Yes, whether correct or not,  hence bringing this article here.

That's the summary of my stand.

Jarus thanks for the enlightenment, blind haters would still complain!!!!, Now they are asking how much you were paid, how much were they paid to castigate SLS how much was Falana paid to cause the rabble, or is Falana unaware of CSRs?, Nigeria is a big joke, the youths have no clue and cant place issues in their proper context, once they hear money their conclusion is that it is been stolen, u give public money to help the public what more do people want?

Since 2010 till date, the total number of deaths recorded in Maiduguri alone is well above 200. I wonder why such gesture wasn’t extended to, unarguably, the most terrorised city in Nigeria. Just a single attack in his home state and he quickly remembers corporate social responsibility. As a matter of fact, what the CBN is saying here is different from what they told ThisDay newspaper. ThisDay reported on Monday that CBN planned to visit Madalla but that the governor wasn’t available for the visit (not the priest as reported here), hence they had to defer the visit to this week so that the governor would be available to lead the delegation to the visit. All along while violence ravaged Jos, heavy rainfall & flood devastated Ibadan & Lagos last year, it never occurred to SLS  to think of social responsibility because those towns weren’t in his state. The Madalla agenda is just an after-thought in response to the avalanche of criticisms.

Mayowaak do all those states not have an indigene in any govt or private establishment that could intervene with their own corporate social responsibility or ar u assumin dat its only d CBN dat has a vote 4 CSRs, y shld SLS use d CSR funds in his agency to assist other states when indigenes of those states who cld also do that are using their CSRs to throw parties and support their wives NGOs or businesses, CSRs hav been abused 4 a long time and so we don't hear abt it dats y its now almost sounding so strange to u guys that someone could help his own state with a 100m, if I was in SLS shoes I won't even make any donation to d Madalla church and instead stick to my guns and explain y I hav given Kano, if anyone feels specially 4 d people dat have died else where giv ur own contribution either as an individual or a corporate entity!!!!!

But reacting to the criticisms, a board member of the CBN, Prof. Sam Olofin, said the donation was in line with the apex bank’s mandate.
He said the donation was not made because Sanusi was from Kano State, adding that the huge damage caused by the bomb blasts prompted the apex bank to make the donation.
Olofin said that the management of the apex bank had last Friday decided to visit Kano and Madala, Niger State, to make donations to victims of the Christmas day bomb blast there.
. . . . .
“The CBN intervention in Kano is very much within the scope of what the board had approved for the management. We did not go out of the mandate of the bank,” he said.

Quoting from the CBN Act, he said, “The Act in functions of management said that the governor, or in his absence, the deputy governor nominated by him shall be in charge of the day-to-day management of the bank and shall be accountable to the board for his acts and decisions.”

Olofin added, “So, there is no single action that the governor takes to which he is not accountable to the board or does not entail clearance from the board.

So that there is no single action that the CBN Governor takes which he is not accountable to the board, then we should accept that this SHARING of the NIGERIAN people's money,which the CBN act of 2007 does not provide any backing for, is acceptable?  


This Olofin dude must really think Nigerians are st*u1p . Please where are the Gani's of our time now . . . . we need to go after this sort of man and make sure he swallows these words . . . . see how he flippantly excuses the sharing of OUR MONEY . . . .

swizzle:

Priest no dey available indeed, dem tell am say them dey come he leave them travel

You dey mind dem and even if he travel, na only him dem fit give the cheque abi no other senior priest dey around? Who dem wan fool?

Posted by: MAYOWAAK
Insert Quote
Since 2010 till date, the total number of deaths recorded in Maiduguri alone is well above 200. I wonder why such gesture wasn’t extended to, unarguably, the most terrorised city in Nigeria. Just a single attack in his home state and he quickly remembers corporate social responsibility. As a matter of fact, what the CBN is saying here is different from what they told ThisDay newspaper. ThisDay reported on Monday that CBN planned to visit Madalla but that the governor wasn’t available for the visit (not the priest as reported here), hence they had to defer the visit to this week so that the governor would be available to lead the delegation to the visit. All along while violence ravaged Jos, heavy rainfall & flood devastated Ibadan & Lagos last year, it never occurred to SLS  to think of social responsibility because those towns weren’t in his state. The Madalla agenda is just an after-thought in response to the avalanche of criticisms.

Nigerian public office holders drink their juice of honesty with their glasses half full.

Posted by: marvix
Insert Quote
Mayowaak do all those states not have an indigene in any govt or private establishment that could intervene with their own corporate social responsibility or ar u assumin dat its only d CBN dat has a vote 4 CSRs, y shld SLS use d CSR funds in his agency to assist other states when indigenes of those states who cld also do that are using their CSRs to throw parties and support their wives NGOs or businesses, CSRs hav been abused 4 a long time and so we don't hear abt it dats y its now almost sounding so strange to u guys that someone could help his own state with a 100m, if I was in SLS shoes I won't even make any donation to d Madalla church and instead stick to my guns and explain y I hav given Kano, if anyone feels specially 4 d people dat have died else where giv ur own contribution either as an individual or a corporate entity!!!!!

You are invariably campaigning for every State of this sick federation to produce the Head of at least one BIG Agency (like the CBN that is able to dole out N100m) so that they can parochially appropriate CSR funds to their own States, without consideration of the communities that host their headquarters. So when the offices don't quite go around equitably, we ought to create more big agencies so that every State has an equal number of Heads in big agencies.
Don't go too far, mayowaak has pointed out the bombings in Abuja where the CBN is headquartered, no word of a CSR gesture.

It doesn't add up. Sanusi got it wrong here by a long line. He is not a bad man, but we all act on impulse sometimes, and we shouldn't be too proud of it altogether not to admit it.
He should just plead that the love of his darling State appealed to him more than any other CSR commitment did. We understand the presence of that inexplicable human behaviour.

Potut, one question pls, have we scrapped d Federal character, do we still use d federal character in making govt appointments, if u feel seriously burdened abt state of affairs in ur state u don't hav to head d agency b4 u send ur proposal/request to the head or board for consideration, let's stop deceiving ourselves is SLS d only Kano man heading an agency that could giv a donation, all those states u are talkin abt don't they hav their indigenes in one position or d other?, lik I said let's put issues in their proper perspective creating new agencies is not d issue we hav more than a 100 agencies today in Nigeria, the NCC can giv a better donation, the NUC is there just visit Abj and u will b surprised d num of agencies we hav 2day, is d chairman of d CBN board frm Kano? If he also wants something 4 his state he would need to justify it to the board if not they won't get!

Trust Nigeria, explanation dey for everything. The Madala angle to me is an after thought.

@jarus
I admire your consistency. I agree I have not done much research on Sanusi but the 'guy dey fall my hand sometimes'.
I really detest playing the ethno-religious card but sometimes you get confused at the level of hypocrises of the people we put in the position of leadership and trust.
I was with Deloitte when Soludo carried out his bank consolidation policy in 2005, and I saw so many things that went wrong.
I knew particularly that some banks were privy to some information before the announcement was made public.

Most people will recall that the likes of Zenith and STB(UBA) were among the first banks to do their offers. In fact I think one of them did before and after the announcement. Moreso, while other banks seem to have been caught unaware, Tony Elumelu (MD, STB) was beside Soludo when he made the announcement (in June 2004) and he even said the policy was in the right direction.

I have nothing to say about the correctness or otherwise of that decision, but it clearly showed that some people benefited from certain privileges.

You dey mind dem and even if he travel, na only him dem fit give the cheque abi no other senior priest dey around? Who dem wan fool?

haha, they could have given it to the catechist or even a mass server! lwtmb

pcicero:

@jarus
I admire your consistency. I agree I have not done much research on Sanusi but the 'guy dey fall my hand sometimes'.
I really detest playing the ethno-religious card but sometimes you get confused at the level of hypocrises of the people we put in the position of leadership and trust.
I was with Deloitte when Soludo carried out his bank consolidation policy in 2005, and I saw so many things that went wrong.
I knew particularly that some banks were privy to some information before the announcement was made public.

Most people will recall that the likes of Zenith and STB(UBA) were among the first banks to do their offers. In fact I think one of them did before and after the announcement. Moreso, while other banks seem to have been caught unaware, Tony Elumelu (MD, STB) was beside Soludo when he made the announcement (in June 2004) and he even said the policy was in the right direction.

I have nothing to say about the correctness or otherwise of that decision, but it clearly showed that some people benefited from certain privileges.

Knowing you here since 2009, you are one of the few people that I know criticize objectively. Mbulela, CyberG and few others also rise above ethno-religious sentiments in their criticisms.

As an ex-Ife parliamentarian yourself, I know your intellectual worth, which you have not betrayed here since I know you.

Your criticism of SLS is very genuine. I am an ardent defender of SLS, and consistently since 2009 on NL here, but I have never hesitated to say it whe he errs. I have pointed out at least three major goofs of SLS on NL since 2009, notably; publishing in a hurry without proper check the list of bank debtors(2009); saying that arrested bank CEOs should be shot(2012) and this one(giving money to Kano victims). I'm not one that blindly follows someone, especially since nobody pays me for it, but a strong defence out of personal conviction and duty to enlighten people, and probably disabuse people's minds.

I respect critics too, but not those that do so ignorantly or out of ethno-religious bias.
I believe our leaders need checking to prevent dictatorial tendency. That's why I respect facts-based criticisms.


On this occasion, I have said time and again that SLS goofed. In fact, when I first read that story, I sent an instant sms to a close person to SLS thus: "Morning xxxx, just reading in The Nation now that Sanusi's CBN donated 100m to Kano SG for teh victims if BH mayhem in teh state. Your friend is inviting another media backlash o. Why only Kano? What of Madalla and other church bombings? is CBN meant to be involved in all these in the first place? I hope this is not true o" later in teh evening, that fellow called me(after speaking with SLS) and we spoke for 2 hours on this subject, and the conclusion of both of us was that: no precedent for it and it is poor judgment.

Shortly after, I received another BB message from Simon Kolawole, Thisday editor, aksing what I have to say about SLS' action(he knows me as SLS' staunch defender) who was also alarmed. I just replied him straight away: "Egbon, I tire o. This is indefensible o".

I revealed this much to show that I am never a blind follower of anybody.

While some of them urged the National Assembly to invite the governor for questioning, others argued that the donation contravened the provisions of the CBN Act.
But reacting to the criticisms, a board member of the CBN, Prof. Sam Olofin, said the donation was in line with the apex bank’s mandate.
He said the donation was not made because Sanusi was from Kano State, adding that the huge damage caused by the bomb blasts prompted the apex bank to make the donation.

The Banks mandate, as outlined in the CBN Act of 2007, gives no such authority to the CBN Governor or the Board members. This practice needs to be stopped and those responsible need to be made to answer to their actions. Putting you in charge of the Nigerian people's money DOES NOT GIVE YOU the right to donate it as you choose.

The executive and legislative arms of government already have budgets enough to handle any such donation on behalf of the people.

Summary of this whole story is dat Lamido is an sentimental ethnic bigot wit Jihadist propensities.

Jarus I don't think he goofed even if no one has done something lik dis b4 SLS dared to b diff, pls let's put it in d proper perspective, was giving public funds to a public cause a bad thing? Is he compelled to donate to every disaster spot?,

no amount of xplanatn can change d fact.sanusi actn has prove it all.

Is giving public funds to public funds a bad thing . . . . the answer is YES, especially when you HAVE NO AUTHORITY to do that.

If you do that for house, dem go call you thief!!! You touch wetin no belong to you . . . period!!

These people are so stupid they cant even offer a coherent explanation for their misdeeds. I thought the CBN has a PR unit. Why did they allow this man to put his feet in his mouth like this? Even a kid cant believe this lie

SLS usually crosses the line in his utterances and actions but some people like to pretend the man is above board when his speech and actions prove otherwise. The most Intelligent (Bigoted) man indeed.

Kobojunkie is spending public money on public people with the approval of the governing board wrong?, No my sista and stop been a blind hater, if SLS took a unilateral action d board would hav been d 1st people to hang him out to dry, don't 4get d guy has worked as an auditor 4 more dan 15yrs and he is among d few we hav in dis country who understand procedures and importance of playing by d book!!!

marvix:

Kobojunkie is spending public money on public people with the approval of the governing board wrong?, No my sista and stop been a blind hater, if SLS took a unilateral action d board would hav been d 1st people to hang him out to dry, don't 4get d guy has worked as an auditor 4 more dan 15yrs and he is among d few we hav in dis country who understand procedures and importance of playing by d book!!!

Kobojunkie:

Is giving public funds to public funds a bad thing . . . . the answer is YES, especially when you HAVE NO AUTHORITY to do that.

If you do that for house, dem go call you thief!!! You touch wetin no belong to you . . . period!!

Please use your head here. If  PPPRA Chairman(because the governing board, which itself has authorities limited by the mandates of the PPPRA allows it) decided today to spend the OUR money on similar causes,  would you also hail such a move?

There is a reason why only the Government is allowed to dip it's hands into our funds to make donations on our behalf.   All Other agencies can make donations from the pockets of the agency members, and not from our pocket.