The Nation - http://thenationonlineng.net/web
Yar’Adua picks FirstBank MD Sanusi for CBN boss
http://thenationonlineng.net/web/articles/5268/1/YarAdua-picks-FirstBank-MD-Sanusi-for-CBN-boss/Page1.html
Yusuf Alli
By Yusuf Alli
Published on 1/06/2009


The controversy over the appointment of a new Governor of the Central Bank of Nigeria (CBN) was laid to rest at the weekend, with the clearance of the Group Managing Director of First Bank Plc, Mr. Sanusi Lamido Sanusi, by the State Security Service (SSS).

It was also learnt from a Presidency source that Sanusi’s choice would be conveyed to the Senate today for screening.

The SSS cleared Sanusi after a two-week intense check.

The source, who spoke in confidence with our correspondent last night, said: "Sanusi has been cleared as the next CBN governor and Mr. President is sticking to him as his choice for the job.

"What has been delaying the announcement of the new governor and notification of the National Assembly was the check by the SSS."

President Umaru Yar’Adua, it was said in many circles, was under pressure not to pick Sanusi. But, the source said:

"It is incorrect to say that the President had been under pressure and could not make up his mind on Sanusi. Right from the outset, the President wanted a risk expert to take over the CBN in the light of the global economic meltdown and he saw one in Sanusi.

"Also, the President does not want a repeat of the recent crisis in the capital market in Nigerian banks. Sanusi has a duty to ensure that banks do not cook up their books under whatever guise.

"Mr. President likes due process and he does not want any tardiness in the clearance process. So, he took his time to get adequate briefing from the SSS."

On Federal Character, which was raised by some observers, including House of Representatives member Hon Dipo Dijo, the source said: "Sanusi’s appointment is simply on merit. The President has been fair to all ethnic groups and if there is any complaint, he knows how to ensure equilibrium."

Melaye, who is the chairman of the House Committee on Information and National Orientation, said Sanusi’s appointment would confer undue advantage on Kano, his hone-state where Finance Minister Dr Mansur Muktar and his National Planning counterpart, Dr Shamsudeen Usman, are from.

But, going by the latest development, competence may have carried the day.

Asked if the President had informed the National Assembly, the source added: "The Senate will receive a letter from the President on Monday (today).

"We are hopeful that the screening of Sanusi should start as from Tuesday or Wednesday."

"Following the amendment to CBN Act in 2007, Sections 8, 10 and 11 provide that the appointment of the CBN governor, deputy Governors and non-executive Directors should now be subjected to the confirmation by the Senate."

The President had picked Sanusi out of the seven contenders for the post.

Those on the initial shopping list, apart from Sanusi, were the outgoing CBN Governor, Prof. Chukwuma Soludo; the Chief Economic Adviser to the President, Alhaji Tanimu Yakubu Kurfi; National Planning Minister Dr. Shamsuddeen Usman; Dr. Muktar; a former Minister of Finance, Dr. Ngozi Okonjo-Iweala; and the Minister of State for Finance, Chief Remi Babalola.

In the interim, Mr Tunde Lemo is likely to take over the mantle of leadership at the CBN in an acting capacity, pending when the Senate approves Sanusi’s appointment.

An online magazine, Economic Confidential, yesterday revealed that according to its investigation, the Deputy Governor, Financial Sector Surveillance, Lemo, may take over on the premise of seniority among the deputy governors in the bank.

According to the report, the onus would have lain on the desk of another senior Deputy Governor, Mr. Ernest Ebi, in charge of Corporate Services but he would be due for retirement on June 6.

YAR A' DULL  for merit?  I think this is good for Nigeria. But if he decide we should do things by merit which I welcome and applaud, then he should now step down immediately as the President of Nigeria. He was not in that office by merit, he knows it.

This guy called YAR A'NONSENSE cannot cease to amaze me.  As of today, Nigeria is build on concept of 'federal character' and I may add this was done in the interest primarily of the North(limited education) so that their interest and other minorities can be protected.

On the face of it, there is nothing to suggest that LAMIDO SANUSI is not the most qualified and competent for the office of Governor of the CBN but on the basis of federal character, the position should not go to him. I have argue this point before on this forum, all the finance and National planning guy's will come from KANO and KATSINA state ,the same geo political zone and that is against the constitution.

The constitution even comes before merit, and the NORTH has benefited from this mediocare constitutional provision for a very long time, and for 
YAR A'DO NOTHING  to now trying to argue MERIT for his guys from KANO and KASTINA state is not only nepotism, but hypocrisy, opportunism and most importantly it is in breach of the constitution.

My hypothetical question is , if those 3 people are from SW or SE will he have allowed those appointment by citing merit? You and I know the answer to that  one, a resounding NO NO NO.

The wind has blown, and we have seen the ass of the fowl. This guy called  YAR A'CLUELESSS is a mini-maradona. I am sorry that merit has to be sacrificed on this occassion for what the constitution says. FINANCE is the hub of any nation, If Yar A'dull want he can find 3 people from SW or SE and put them in FINANCE and let us see if his guys in the NORTH will not declare a JIHAD.

Mr. NO 7 POINT AGENDA, VISIONLESS 2020, what is good for the goose is good for the gander. STOP PLAYING YOUR GAMES WE ARE NOW WISE.

vigasimple:

YAR A' DULL  for merit?  I think this is good for Nigeria. But if he decide we should do things by merit which I welcome and applaud, then he should now step down immediately as the President of Nigeria. He was not in that office by merit, he knows it.

You have a point but I actually think Yar Adua is inadvertently doing a great thing for Nigeria. If he gets away with appointing Lamido as CBN Governor ostensibly "on merit" then he is dealing the first death blow to the whole 'federal Character' arrangement because no one can argue that the tenet of federal character has not been breached with the appointment of a CNB Governor from Kano. All that remains is for the rest of Nigeria to prime their memory and bide their time. When a non-Northerner becomes President in 2015 he should simply ignore all noise of marginalisations from the North by reminding them that , like Yar Adua , he is appointing key players in his government on merit.

Gbawe:

You have a point but I actually think Yar Adua is inadvertently doing a great thing for Nigeria. If he gets away with appointing Lamido as CBN Governor ostensibly "on merit" then he is dealing the first death blow to the whole 'federal Character' arrangement because no one can argue that the tenet of federal character has not been breached with the appointment of a CNB Governor from Kano. All that remains is for the rest of Nigeria to prime their memory and bide their time. When a non-Northerner becomes President in 2015 he should simply ignore all noise of marginalisations from the North by reminding them that , like Yar Adua , he is appointing key players in his government on merit.

That the constitution is allowed to be flouted does not mean it will be right to flout it in future . . . it does not even guarantee that it will gain traction.

I think if he honestly believes that Federal Character has no place in modern Nigeria . . . he should as part of sending Sanusi's name send a bill to abolish section 14(3) of the Nigerian constitution. Otherwise it will be a case of why did the Seante not reject Sanusi then when Yar'adua appointed all finance policy makers from Kano.

mikeansy:

That the constitution is allowed to be flouted does not mean it will be right to flout it in future . . . it does not even guarantee that it will gain traction.

I think if he honestly believes that Federal Character has no place in modern Nigeria . . . he should as part of sending Sanusi's name send a bill to abolish section 14(3) of the Nigerian constitution. Otherwise it will be a case of why did the Seante not reject Sanusi then when Yar'adua appointed all finance policy makers from Kano.

Firstly , the Nigerian Senate lacks dynamism and progressive political will. The Senate is also highly Partisan with members driven by self interest rather than selflessness. Most Senators will never pass a bill that seeks to move against their own interest or that of their sponsors and Godfathers . The FOI bill remaining unpassed after several Years is a perfect example.

Secondly , federal character is unlikely to be abolished with legislation for the reasons stated above. A strong president will simply have to act and damn the consequences . Regardless of what the constitution says there will be grey areas that can be be exploited to back arguements in favour of meritocratic appointments.

Thirdly, Yar Adua is not visionary or a reformer. He is reactionary. Highly unlikely he is insisting on Lamido because he is deliberately setting a precedence against 'federal character'. The man is probably just being his usual obtuse self. This is why I wrote ; Yar Adua is inadvertently doing a great thing for Nigeria .

In the end if the influence of 'federal character' is to be reduced it will be done with a lot of bullishness from a determined leader because there are far too many ordinary and incompetent leaders benefitting from the retrogressive nuisance federal character actually has  become. They will fight tooth and nail (mostly through the Senate you mentioned) to ensure any attempt to curtail the influence of ederal character never sees the light of day.

the implication is disregarding the constitution is gross misconduct which ammounts to impeachment

Frankly speaking, this looks more like they need to have a northerner there, and Sanusi looks to be the most polished of the lot.
I mean, we've had Usman and Mukhtar, and they haven't even had the attention Soludo is getting, and don't seem to have a clue either.