mbhs139:

I wonder what kind and type of education children of now-a-days receive! So, in your mind ministers are the same with a CBN Governor? Didn't you read in the post the mode of appointing and removing a CBN Governor in Nigeria? Anyway, for your information, ministers and a CBN Governor are not in the same shoes; while the latter are political appointees, the former is a professional whose hand lies the economic success or otherwise of the nation. As a matter of fact, appointing a minister of finance as the economic coordinator does not really show a sense of sound judgement. Those in charge of monetary policy would have otherwise be in a better position. I stand to be corrected; i'm not laying claim to this knowledge.

maggdon: The interpretation of CBN act of 2007 section 11 states clearly that the preasident cant unilaterally sack d CBN governor, he nids 2/3 of the senate house to enact the removal clause... However he can recommend for his sack... My point is to the ppl shouting that he should be removed unlawfully, that is the problem with nigerian youths.. No regard for d law

Mynd_44:
GEJ does not have the powers to lock up his office, he does not have the powers to get him arrested and GEJ alone did not employ him. He was nominated and the senate confirmed him. How this works is that if he is to be fired then the same process that brought him in is the one that can force him out which involves the president and the senate.

The president can't act unilaterally in this case

Ishsoph:

I don't engage in emotional discussion(s).
Now bounce!

shymexx:

Bruv, not everything has to be in black and white for you to be able to discern what's going on. There's no smoke without fire. If you go back and read the article carefully - you would see that there was a "family meeting" at the CBN. And the CBN's media director, one Mr. Okoroafor, addressed the press afterwards, about the latest development.

Now, connect the dots and read the handwriting on the wall.

Why Lamido failed to get presidential nod for a second term

05 January 2014



ABUJA (PSN)---Fresh facts have emerged as regards why the outgoing governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, could not get a second term in office.

Contrary to the impression being created by the CBN governor that he was not interested in a second term in office, Per Second News authoritatively gathered that he actually approached the Presidency for an extension of his term which expires in about three months' time.
He was said to have recently persuaded the Emir of Kano, His Highness Saa'd Abubakar III, to help him prevail on President Goodluck Jonathan to extend his term in office.

A reliable source told Per Second News that Jonathan turned down the monarch's request, saying that the CBN governor could not be trusted, given his several policy somersaults, inconsistent and embarassing public utterances in recent times.

The president, according to the source, insistedly told the respected traditional ruler in the presence of Sanusi that the CBN governor would not stay beyond his first term in office.

Jonathan was said to have informed the Emir, in the presence of a governor from one of the South-South states who was there on a different mission, that a person with such a repute like Sanusi could not be entrusted with such a high office as the CBN governor

Among his many sins, Mallam Sanusi wrote a fallacious letter to the president, complaining of a missing £49.8 billion funds from the Nigerian National Petroleum Corporation (NNPC) meant to be remitted to the Federation accounts.

The allegation made senators elected on the platform of the All Progressives Congress (APC) to address a press conference, calling on President Jonathan to constitute a thorough probe into the missing fund.

However, after a two-day reconciliation exercise with NNPC, FIRS, DPR and CBN, and an appearance before the Senate Committee on Finance and Appropriation, last December, the CBN governor recanted, saying he got his figures wrong and blamed his staffs for providing him with wrong data.

He concluded then that, rather than $49.8 billion, what is yet to be accounted for is actually $12 billion.

Even at that, the Minister of Finance and Coordinating Minister of the Economy, Dr (Mrs)Ngozi Okonjo-Iweala, faulted Sanusi as she told the Senate committee that the yet-to-be remitted amount is $10 billion.

It was later found out, after about three more days of reconciliation, that the $10 billion was actually remitted to CBN months before Sansui's false alarm, under a separate heading by FIRS and DPR (Department of Petroleum Resources).

Curiously, APC senators, who had insinuated that the Jonathan administration was characterised by massive and unprecedented corruption, are yet to react to Sanusi's recant.

Sanusi's tenure as the governor of the apex bank was also marred with controversies, especially his inability to reconcile the accounts of CBN or making accounts of CBN available to Nigerians or the National Assembly on request.

He was also accused of using the bank's funds as personal donations to unapproved causes.

Another source revealed that Mallam Sanusi refused to forgive President Jonathan after the president stopped his plan to print new N5,000 Naira note, which the CBN governor have already finalised discussions with overseas contractors.

Following the negative reactions and criticisms that greeted the proposed introduction of the N5,000 denomination, Sanusi had told Nigerians that there was no plan to do such.

The denial notwithstanding, he was however said to be seething anger over the step taken by the president and was looking for ways to deal with him for stopping his pet project.

According to the source, the outgoing CBN governor felt the best way to get back at Jonathan was to soil his administration integrity with such frivolous corruption allegations.

He was however shocked when financial experts from the FIRS, DPR and NNPC busted his lies.
This forced Sanusi to make an open apology to the respective departments and Nigerians on television.

Consequently, the retiring CBN governor was ordered, late last year, by the Presidency to proceed on compulsory retirement on or before March 2014 as his tenure as CBN governor will not be renewed.

This order to proceed on a compulsory leave will come months before his term expires in 2014.

shymexx:

Bruv, not everything has to be in black and white for you to be able to discern what's going on. There's no smoke without fire. If you go back and read the article carefully - you would see that there was a "family meeting" at the CBN. And the CBN's media director, one Mr. Okoroafor, addressed the press afterwards, about the latest development.

Now, connect the dots and read the handwriting on the wall.

rudedough:

Bro i did not see anything threatening on that post. I read people refuting a rumor about the CBN Governor's early retirement. No sign of threat or pressure. @shymexx you can do better than this. Read the text again.

”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"

Where did he confront GEJ or when did GEJ threaten to sack him? Even the Senate said it was a rumor. Please point me to the line as i cannot see any handwriting on the wall.

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.

eGuerrilla:

Brethren from the south-side, you are right on the money with this one.
The fact is, not only was there a clear agenda to get rid of Sanusi before this volte-face, there were also a number of articles written to set the tone.

It is all about reading those tea leaves, I suppose.

http://www.persecondnews.com/index.php/psn-news/item/261-why-lamido-failed-to-get-presidential-nod-for-a-second-term

And we are suppose to believe your source Per Second News. Joke of the year.

From one Propaganda to another and another. Everyday a new one springs up. Source: Linda Ikeji blog.

rudedough:

And we are suppose to believe your source Per Second News. Joke of the year.

Gamji007:

These are the kind of daft people that whisper into GEJ's ear to sack Lamido, and the daft phd holder won't remind them he needs clearance from the legislators to do so.

Sanusi Lamido is not a minister. Please calm down and read well, biko.

eGuerrilla:

One account of what went down.

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

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" provided 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".

boneruns:

I thought you're studying in UK?

rudedough: Igbos are very ungrateful. Sanusi worked with GEJ since his administration, stabilized our economy, created policies that made our economy stand at No. 1 in the world, financed SMEs and created job opportunities.

Just a little propaganda by the opposition, Igbos are already calling the man Boko Haram, Islamic extremist, useless and what not. I am an Igbo man and i must say that i am very disappointed.

maasoap: And how much is $10 billion in naira? 1.6 trillion naira! Can you see your life?

eGuerrilla:

Brethren from the south-side, you are right on the money with this one.
The fact is, not only was there a clear agenda to get rid of Sanusi before this volte-face, there were also a number of articles written to set the tone.

It is all about reading those tea leaves, I suppose.

Source

rudedough:
Bro i did not see anything threatening on that post. I read people refuting a rumor about the CBN Governor's early retirement. No sign of threat or pressure. @shymexx you can do better than this. Read the text again.

”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"

Where did he confront GEJ or when did GEJ threaten to sack him? Even the Senate said it was a rumor. Please point me to the line as i cannot see any handwriting on the wall.

rudedough: Igbos are very ungrateful. Sanusi worked with GEJ since his administration, stabilized our economy, created policies that made our economy stand at No. 1 in the world, financed SMEs and created job opportunities.

Just a little propaganda by the opposition, Igbos are already calling the man Boko Haram, Islamic extremist, useless and what not. I am an Igbo man and i must say that i am very disappointed.

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?

Abu-Maryam:
Oya cow-boy try your might in the houses, kindly call for SLS removal.... Mhm begining of 2015 only fools will not understand what this mean. The president who sent finance minister for budget presentation for the fear of been disgrace, tell me how would he call for the removal of SLS? Heads are rolling

agbameta: Guess exactly what Sanusi told the dullard when he asked him to resign.

Negro fvukkk you Go read up on the constitution your dumb assss ignorant dullard..

lmao

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?