Too late to cry when the head is cut off

Kobicove:


He is a man of integrity yet he was spending CBN money like his own and using it to indirectly ingratiate himself so as to be given favourable consideration during the tussle for who would be the next Emir of Kano

Fear or subjugation (or is it Stockholm syndrome) always makes Nigerians to refuse to acknowledge the wrongdoing of northerners. If Sanusi was from anywhere else, they would have remembered.

yarimo:
emirs should make sure they are neutral in elections matters, apart from Sanusi. I knew an emir in another state if PDP emerges winner in the 2019 gubernatorial election it is not possible for him to escape dethroment. even the emir himself is aware of this facts.

lol... Me seff knw one for southwest... If pdp emerges... Na only God fit save am

anonimi:
www.nairaland.com/attachments/660213_Sanusi_jpg9a86bbd6b857591375445c6c662ecc0a


Sanusi/CBN/FRCN indictment report continued


(C) Available information indicates that the Central Bank has over the years engaged in procurement of goods, works and services worth billions of Naira each year without complying with the express provisions of the PPA.

(D) By deliberately refusing to be bound by the provisions of the Act, the CBN has not only decided to act in an unlawful manner, but has also persisted in promoting a governance regime characterised by financial recklessness, waste and impunity, as demonstrated by the contents of its 2012 Financial Statements.

Unlawful expenditure by the Central Bank of Nigeria on ‘Intervention Projects’ across the country

(A) the unacceptable level of financial recklessness displayed by the leadership of the Central Bank of Nigeria is typified by the execution of ‘Intervention Projects’ across the country. From available information, the bank has either executed or is currently executing about 63 such projects across the country and has committed over N163billion on them.

(B) it is inexcusable and patently unlawful for any agency of government to deploy huge sums of money as the CBN has done in this case, without appropriation and outside CBN’s statutory mandate. It is trite that the expenditure of public funds by any organ of government must be based on clear legal mandates, prudent costing and overriding national interest.

Financial infractions and acts of financial recklessness committed by the Central Bank as reflected in its audited financial statements of 2012

(A) pursuant to Section 50 of the CBN Act 2007, a copy of the audited financial statements of the CBN for the year ended 31st December 2012 was sent to Mr. President. Based on the issues raised in the financial statement, a reaction was requested from you to enable a proper appreciation of the nation’s economic outlook.

(B) the response to this query was further referred to the Financial Reporting Council of Nigeria. The review by the council, rather than allay the fears of government, further confirmed concern bout the untidy manner in which you have generally conducted the operations of the CBN.

Some of the salient observations arising from the review are;

(A) in a most ironical manner, it has become obvious that the CBN is not able to prepare its financial statements using applicable International Financial Reporting Standards (IFFS) whereas Deposit Money Banks that the CBN is supervising have complied with this national requirement since 2012.

Undoubtedly, this laxity on the part of our apex bank, apart from calling to question its capacity for proper corporate governance, is capable of sending wrong signals to both domestic and international investors on the state of the Nigerian economy.

(B) the provisions of the Memorandum of Understanding (MOU) signed by the CBN and other Deposit Money Banks on Banking Resolution Sinking Fund have been breached in a material manner. For example, a Board of Trustees (BOT) to manage the Fund has not been constituted since 2010 when it was established. The CBN has however continued to utilise the Fund for certain operations without approval of the said BOT.

(C) contrary to section 34 (b) of the CBN Act 2007 which provides that the CBN shall not, except as provided in Section 31 of the Act, inter alia, purchase the shares of any corporation of company, unless an entity set up by the approval or authority of the Federal Government,m CBN in 2010, acquired 7% shares of International Islamic Management Corporation of Malaysia to the tune of N0.743 billion. This transaction was neither brought to Mr. President’s attention nor was a board approval obtained before it was entered into.

(D) the CBN has failed or refused to implement the provisions of the Personal Income Tax (Amendment) Act 2007. Accordingly the Pay-As-You-Earn (PAYE) deductions of its staff are still being computed in accordance with the defunct Personal Income Tax Act 2004, thus effectively assisting its staff to evade tax despite the generous wage package in the CBN, relative to other sectors of the economy.

(E) the CBN had an additional brought forward to General Reserve Fund of N16.031bn in 2012 but proceeded on a boy age of indefensible expenses in 2012 characterised by inexplicable increases in some heads of expenditure during the year. Examples include:

1. The bank spent N3.086bn on “promotional activities” in 2012 (up from N1.084bn in 2011). The bank spent this sum even when it is not in competition with any other institution in Nigeria;

2. The CBN claimed to have expended N20.202bn on ‘Legal and Professional Fees’ in 2011 beyond all reasonable standards of prudence and accountability;

3. Between expenses on ‘Private Guards’ and ‘Lunch for Policemen’, the CBN claimed to have spent N1.257 billion in 2012;

4. While Section 6(3)(c) of the CBN Act 2007 provides that the board of the CBN is to make recommendations to Mr. President on the rate of renumeration to Auditors, the bank has consistently observed this provision in breach and even went to the extent of changing one of the Joint External Auditors without notifying the office of the President.

5. In the explanations offered by the CBN pursuant to presidential directives, it offered a breakdown of ‘Currency Issue Expenses’ for 2011 and 2012. Interestingly, it claimed to have paid N38.233bn to the Nigerian Security Printing and Minting. Company Limited (NSPMC) in 2011 for ‘Printing of Banknotes.’ Paradoxically however, in the same 2011, NSPMC reported a total turnover of N29.370bn for all its transactions with all clients (including the CBN).

6. It is significant to note that the external audit revealed balances of sundry foreign currencies without physical stock of foreign currencies in the CBN Head Office.

Questionable write-off of N40bn loans of a bank

The above issues are only a few of the infractions highlighted by the review and which point to the gross incompetence and recklessness which characterised the operations of the CBN in the period under review.

However, the CBN also claimed that it paid Air Charter, such as payments to Emirate Airline (N0.511bn), Wing Airline (N0.425bn) and Associated Airline (N1.025bn) to distribute currency by air nationwide. Emirate Airline does not fly local charter in Nigeria, Wing Airline is not registered with Nigeria Civil Aviation Authority and Associated Airline does not have a billion turnover for 2011 because upon enquiry, the management claimed that they have no financial statements and have not had any significant operations for the past two years that will warrant preparation of financial statements.

The breakdown also include “Currency Issue Expenses” of N1.158bn and Sundry Currency charges of N1.678bn under “Currency Issue Expenses.” As they are in 2011 so are similar expenses in 2012. These are difficult to understand.

Other areas of fraudulent activities include

1. Facility Management N7.034bn in 2012 (N5.751bn in 2011.

2. Foreign Bank accounts that have been closed offshore were still operational in the General Ledger for over six months after they have been confirmed as closed accounts by the offshore banks.

3. The “Know Your Customer” policy is not properly followed by the CBN to the extent that the CBN has unknown customer with account balance of N1.423bn since 2008. The CBN claim that it is taking steps to obtain the required details regarding the address of the customer.

Wastefulness

1. Training and travel expenses N9.24bn in 2012 up from N7.65bn in 2011.

2. Expenses on “ATM offsite policy change” came to N1.045bn.

3. Expenses on “Non Interest Banking” N1.359bn in 2012 up from N0.977bn in 2011.

The CBN is still very heavy on expenses on “Project Eagles” spending N0.606bn in 2012 up from N63m in 2011.

Expense on newspapers, books and periodicals (excluding CBN’s publications) is N1.678 billion in 2012 up from N1.670bn in 2011,


From: http://www.punchng.com/news/the-frcns-report-on-sanusi/

So, or you listed above were the reasons for his indictment as CBN governor? And you believed that? SMH!

agarawu23:
Good decision

I weep for the future of Nigeria. Some ediots are jubilating because he was against gej. the man raised a red flag of money that's meant for all of us and how gej sat and watch money being stolen by his elite. Is that why you guys hate him? Sanusi is a no nonsense man..... hate him or like him. He would have been ass licking ganduje's ass for him to remain in the seat if he doesn't have integrity.

He will grow higher cos he is an intelligent man with good records.

#teamSanusi

Be deceiving urself. He wasn't even next in line to be emir. His kangaroo whistleblow bought him the throne. Things are just resetting itself in the form of karma. So he should brace up n up till today, APC hasn't validated the so called missing monies.

It eas done with the support of the long man(Buhari)so no go change he has the judiciary in his pocket

agarawu23:
Good decision

I weep for the future of Nigeria. Some ediots are jubilating because he was against gej. the man raised a red flag of money that's meant for all of us and how gej sat and watch money being stolen by his elite. Is that why you guys hate him? Sanusi is a no nonsense man..... hate him or like him. He would have been ass licking ganduje's ass for him to remain in the seat if he doesn't have integrity.

He will grow higher cos he is an intelligent man with good records.

#teamSanusi

you know a lot of Nigerians are quite insensitive people saying he stood against gej was gej a saint? he raised a red flag about corruption the point of discussion should have been is gej guilty or not,but now the argument has turned to him speaking up against jonathan, yes he may have not supported gej reelection campaign,that's because Jonathan failed as a president, buhari being a bigger failure does not absolve Jonathan of failure and corruption.

Alajiki:


So, or you listed above were the reasons for his indictment as CBN governor? And you believed that? SMH!

I believe the report. Sanusi has always been reckless with finance and he arrogantly does it.

Gracealone:
I really desire that the throne is eventually restored Sanusi, at least, so that he can learn, like Nebuchadnezzar, that power belongs to God.

While he held sway at First Bank and CBN, he could fire anyone perceived as an antagonist without fear hearing, while at the same time giving his friends soft landing, for the same alleged offence.

Gandollar no be God o, nah EGO dey wary am but time go tell ...

I am not in any way surprised. I am only surprised it took this long for him to be dethroned. SLS Sanusi is too reckless for any exalted position.

As d GMD of Firstbank, he would come late to meetings and start harassing married women, pressing their boobs openly.

As a Director, he was audited twice and was found wanting. When caught d 2nd time, d fool almost implicated my friend, Funso Tooki, saying that he's also culpable.

Sanusi will just call Funso and say "Funso, do you know that my tall girl friend wt big butt, Rukaya. Pls raise a memo and give her #200k. Oh, I forgot, pls give Bintu, my dark complexion girl friend in UBA #500k and #600k to Aisha my 3rd wife, etc.

Unknown to the idiot, Funso used to record all his phone calls and unwritten requests since he could not question hiss authority as Oga patapata. Of cos Funso too capitalised on some of d lapses, but SLS was just too reckless. You know u can't query your Oga nao, not an ED.

He was almost sacked twice but had to dobale. He did same thing as d CBN Gov. He, SLS would make his Corper girl friend who has no experience a Snr. Mgr. He slept with many married women. There was this celebrated case of one of his girl friends, a CBN staff, on d internet (pls Google it). You needed to see the exchange of banters bw d two love birds, how both were describing their male and female genitals and their dexterity at sexuality. The woman even mentioned that SLS likes going in from d back like our own (Bamofin)

It is only SLS that will dine with his boss, GEJ in d day and go to d public to accuse him of having stolen $20bn in d night. A case of a thief calling another a barawo.
Good radiance to bad nonsense. His first wife is a classmate of my wife. SLS started poking her when they were in form 2. The woman is tired of him. He receives calls off girl friends ok n her presence and will even out it on speaker. He will just say, "This girls won't kill me. I am that good at it". He is no respecter of women unlike (Tackler) who is very discrete. In 2013, he attended an IMF Award ceremony wt 3 wives and about 10 children wt CBN money, kilode.

He is just like Sowore, he does not do what he preaches. He would av been ousted long ago save for d intervention of Dangote and d VP, Oshinbajo. The govt if Kano should follow up by prosecuting him.

*From a former FBN staff in OGS '83 set*

Copied

agarawu23:
Good decision

I weep for the future of Nigeria. Some ediots are jubilating because he was against gej. the man raised a red flag of money that's meant for all of us and how gej sat and watch money being stolen by his elite. Is that why you guys hate him? Sanusi is a no nonsense man..... hate him or like him. He would have been ass licking ganduje's ass for him to remain in the seat if he doesn't have integrity.

He will grow higher cos he is an intelligent man with good records.

#teamSanusi

shutup sire!!!


Sanusi is as corrupt as Ganduje and Buhari!

Sanusi stole a lot of CBN money!

Sanusi donated lots of Nigeria's common wealth to terrorists and terrorists organizations in his diehard Islamic supporting attitude.

Sanusi employed and promoted his girlfriends in CBN as CBN governor.

Sanusi's love for luxury life pushed him to tamper with CBN funds and even Kano Emirate fund he was using to buy Rolls Royce and marry new wives, aside numerous concubines home and abroad.

Yes I agree Sanusi may have said some truth about the evil happening in the north, but evil people shall be used to reward evil people, so don't be fooled to believe when one evil man or corrupt man exposes the corruption of another corrupt man, it means the former is not evil or corrupt.


You don't use civilians to fight armed militants, you use government armed militants known as national army or soldiers to fight militants.

The same way, evil people are used to fight evil people!


Sanusi = Ganduje = Buhari = Kwankwaso = El Rufai

They are all bad men fighting for their survival, none of them is a saint.


That Sanusi raised false alarm that $22billion was stolen from Nigeria's crude oil account when the total earned income then was not even up to that showed Sanusi is an evil man!


Do you know what $22billion is and he alleged that Goodluck looted it, who does that

How possible is that in one single loot

How much is Nigeria's budget that year for someone to loot such amount.


That is the tactics Haboki politicians have been using to deceive you junkies from the south, accuse the previous government of being corrupt or looting money publicly, shout it very loud for all to hear and promise Nigerians that you will fight corruption and then watch foolish Nigerians crown you Mr Integrity and corruption fighter while you and your croonies stash billions in your agbada and bullion vans.



Sanusi is not a saint, stop making him look like one! He always feel he is above the law!! He hardly respect his superiors, that has been his attitude right from CBN if you don't know.

At a point he stopped respecting President Goodluck Jonathan even though he knew the President could sack him! He took same I am above the law attitude to Kano Emirate and now $ thief Ganduje have taught him a hard lesson.


I won't be surprised if gullible Nigerians like you gather as usual to make him your next Presidiot like you made Buhari, but bookmark this page, if he ever becomes your Presidiot like Buhari, he will also be impeached!!!

yarimo:
emirs should make sure they are neutral in elections matters, apart from Sanusi. I knew an emir in another state if PDP emerges winner in the 2019 gubernatorial election it is not possible for him to escape dethroment. even the emir himself is aware of this facts.

Do you see the difference? Did you see any bigotry in the comment you quoted?

Ozuai!

yarimo:
emirs should make sure they are neutral in elections matters, apart from Sanusi. I knew an emir in another state if PDP emerges winner in the 2019 gubernatorial election it is not possible for him to escape dethroment. even the emir himself is aware of this facts.

So you expect him to support a bribe monger? Emir won't support to thieves except foolish ones

agarawu23 ,post=87311855:
Good decision

I weep for the future of Nigeria. Some ediots are jubilating because he was against gej. the man raised a red flag of money that's meant for all of us and how gej sat and watch money being stolen by his elite. Is that why you guys hate him? Sanusi is a no nonsense man..... hate him or like him. He would have been ass licking ganduje's ass for him to remain in the seat if he doesn't have integrity.

He will grow higher cos he is an intelligent man with good records.

#teamSanusi

You are correct and from what I have read of the first Sanusi, it seems to run in their family.

Sanusi’s woes including his dethronement is as a result of the continued rift between Kwakwanso and Gandollar. Kwakwanso put Sanusi on the Emir’s stool of Kano against a popular candidate, he should have kept that in mind and wisely shut his mouth during the 2019 gubernatorial elections in Kano. If a governor can make u king, it follows that a governor can also remove ur behind from same stool. He forgot that his power is premised on the will of the state’s constitution and he serves solely at his governor’s pleasure. His family’s history has finally caught up with him because of his 'oral diarrhea'!

PS: For those already campaigning for him in 2023, I wonder at the forgetfulness of Nigerians! This man’s stewardship at the CBN was filled with corruption allegations. His stewardship as Emir was also called into question by the Kano State HoA. How on earth do u think that same man will rule Nigeria without dipping his hands in the national coffers?

destinie2019:
The same CBN governor who unilaterally released 100 million naira to Kano during Jonathan's tenure, the same man who was severally accused of financial recklessness both at the CBN and the emirate. Just tell us you believe he is entitled to chop . And Jonathan is not.

The slavery mentality of southerners is terrible in this Fulani contraption called Naijeriya.

agarawu23:
Good decision

I weep for the future of Nigeria. Some ediots are jubilating because he was against gej. the man raised a red flag of money that's meant for all of us and how gej sat and watch money being stolen by his elite. Is that why you guys hate him? Sanusi is a no nonsense man..... hate him or like him. He would have been ass licking ganduje's ass for him to remain in the seat if he doesn't have integrity.

He will grow higher cos he is an intelligent man with good records.

#teamSanusi

Zombies were jubilating too because he went against APC. So where do you belong?

Karma! Oh karma!

audio dethronement

Witcher:
the federal accounts belongs to us. Just because we let u people live in Nigeria doesn't mean we don't own you.. we sold ur forefathers to the white and left some of u.. just for sake of history

What is the name of the cheap drug that you are feeling high on

Witcher:
I think Ganduje did him a favour, that museum never suits him in the first place now he av become more popular let him gun for the presidency

You don't know when to stop. Do you?

Born2Breed:


Yes oh. He instigated the beheading of Gideon Akaluka.

That man should be banished to Sambisa.

Stop spreading falsehood.

FFK can never be a reliable source of any information.

There are big holes in all the statement FFK made

Witcher:
I think Ganduje did him a favour, that museum never suits him in the first place now he av become more popular let him gun for the presidency

He's a Muhammedian jihadist

We don't need another Islamic fundamentalist as prezdo

yarimo:
emirs should make sure they are neutral in elections matters, apart from Sanusi. I knew an emir in another state if PDP emerges winner in the 2019 gubernatorial election it is not possible for him to escape dethroment. even the emir himself is aware of this facts.

Which rubbish fact is this zombie posting?

Enwhen:


Lolssss..I am bothered about govt having powers against our Royals.... I am afriad of the future, because our politicians are power drunk... With that a royal father cannot remain neutral, politicians will not believe...u must always support incumbent...

I also had same feelings when I heard the news, this country is a jungle. I went ahead and asked a friend of mine who is in and from kano if this is the way the prime ministers dethrones the Queens of England any time they want, if the affairs of the Queen royal family has anything to do with the prime minister. The affair affairs of the royal family should be should be sorted out among the council /elders/chiefs. I wouldn't blame the politicians cuz these so called monarchs are the one who run after them and collect funds all in the name of supporting them for election. I am waiting for a thing of such to happen at least five times among we yoruba, maybe that is when the kings and Queens will sit down and agree to the fact that they are just ceremonial heads and stop eyeing Nigeria politics cuz of the Ghana must go bag of money which they all call envelope. You will see the elders council, bringing a drug traffickers/lords, lunatics as kings all because one powerful politician is in support forgetting the tradition and cultures of the land and when that one gets high on his drugs he begins to slap his fellow kings. The truth is things will never be good in this country neither will it be better until we do things they way they should be done.

agarawu23:
Good decision

I weep for the future of Nigeria. Some ediots are jubilating because he was against gej. the man raised a red flag of money that's meant for all of us and how gej sat and watch money being stolen by his elite. Is that why you guys hate him? Sanusi is a no nonsense man..... hate him or like him. He would have been ass licking ganduje's ass for him to remain in the seat if he doesn't have integrity.

He will grow higher cos he is an intelligent man with good records.

#teamSanusi

Weep for your Kano State.

Sanusi is under local government area

Che if this ones collect one bullet, dem no go fall??

saheedbadmus:
What as happened as happened o .. make una just accept am like dat ... am sure even if court ask Gandullar to reinstate sanusi he wont cost d gov no like him at all...


dont Just gather heads together without providing security..let security be your Number one priority when having an event.
Kindly check my signature

saheedbadmus:
What as happened as happened o .. make una just accept am like dat ... am sure even if court ask Gandullar to reinstate sanusi he wont cost d gov no like him at all...


dont Just gather heads together without providing security..let security be your Number one priority when having an event.
Kindly check my signature

Your location

Mjpem23:



You mean SULTAN OF SOKOTO?

Is Sultan an Emir, n is sokoto state n APC state.

Enwhen:


Lolssss..I am bothered about govt having powers against our Royals.... I am afriad of the future, because our politicians are power drunk... With that a royal father cannot remain neutral, politicians will not believe...u must always support incumbent...

the problem stems from our constitution. Those who introduced to us democracy still protect their cultural values forever . Have you heard that the queen or king of England has been dethroned before? They're their gods and goddesses. Here, before the arrival of the colonial masters, our kings were being worshipped and revered. Nothing is impossible with the present day judiciary who have suddenly woken up and realised that politicians have encroached and rubbished their territories.

Our politicians are terrible.

agarawu23:
Good decision

I weep for the future of Nigeria. Some ediots are jubilating because he was against gej. the man raised a red flag of money that's meant for all of us and how gej sat and watch money being stolen by his elite. Is that why you guys hate him? Sanusi is a no nonsense man..... hate him or like him. He would have been ass licking ganduje's ass for him to remain in the seat if he doesn't have integrity.

He will grow higher cos he is an intelligent man with good records.

#teamSanusi

Please permit me to share this your comment on FB.

People who dress like masquerades are said to be local chiefs in Nigeria, and a man who claims to be educated and civilized will jump into that stuffy regalia after a cozy stay at the central bank. But this man dolled out billions of public funds stashed in CBN to so many schools in the North those days and I'm not sure..., but FFK accused him also of killing one Akaluka and ordering almajiris to put his head on a spike. If true, then I'm getting jittery about Karma. Karma is real and doesn't forgive.