News / Africa

Nigerian President Defends Suspension of Central Bank Governor

Nigeria's President Goodluck Jonathan arrives for service for former South African President Nelson Mandela, First National Bank Stadium, Johannesburg, Dec. 10, 2013.
Nigeria's President Goodluck Jonathan arrives for service for former South African President Nelson Mandela, First National Bank Stadium, Johannesburg, Dec. 10, 2013.
James Butty
Nigerian President Goodluck Jonathan said his suspension of Central Bank Governor Lamido Sanusi had nothing to do with the governor’s allegations of corruption at the state-owned Nigerian National Petroleum Corporation. 

Sanusi said over $20 billion had disappeared from state oil revenues.

Although Sanusi said he would challenge the legality of his suspension in court, presidential spokesman Reuben Abati said Jonathan has made it clear he has the power to appoint and suspend bank governors.

“President Jonathan made it very clear that what we are dealing with here is a case of suspension, not dismissal.  But, the question that has arisen from that is whether the president has the power to suspend without recourse to the National Assembly. The position expressed by Mr. President is indeed he who appoints also has the power to suspend,” he said.

Abati said Jonathan, during a news conference, also addressed the question of whether Sanusi was suspended over his corruption allegations.

“Indeed, the investigation against him (Sanusi) first started as far back as February, 2013.  As of April 2013, and also by May 4th, he had been given queries to respond to a number of allegations.  His response was then forwarded to the Financial Reporting Council of Nigeria, which reported back to the federal government alleging many breaches and practically accusing the CB under Sanusi’s watch of fraud, incompetence and of financial recklessness.  And, on the basis of that, the presidency had to ask Mr. Sanusi to step down,” Abati said.

Abati said Sanusi’s claim that over $20 billion is missing from state oil revenues is being investigated by the Nigerian legislature.

He said Jonathan insisted his government would not interfere with an ongoing legislative investigation.

“Indeed, Mr. Sanusi is free and is encouraged to continue to give evidence before the National Assembly.  President Jonathan’s commitment is to integrity and accountability.  And, he has made it very clear that his government is also committed to transparency, both in the extractive sector and particularly in the NNPC,” Abati said.

Abati says the Nigerian government saw a brief jolt in the financial markets as reaction to Sanusi’s suspension, the man considered as having brought some stability to Africa’s second largest economy.

“Immediately after the announcement, as a result of the uncertainty that quite a number of persons read into the development, there was a brief shock in the market. But, the position of government is that this has nothing to do with monetary policy. The Central Bank of Nigeria remains very strong and government is committed to continuing to strengthen it, and there is no need for anxiety about the country’s financial policy,” Abati said.
Butty interview with Abati
Butty interview with Abatii
|| 0:00:00
...
 
🔇
X

You May Like

Is Air Travel Safe?

Aviation expert says despite tragic losses of Malaysian Airlines flights 370 and 17, industry experienced lowest fatality rate in recorded history last year More

Multimedia 100 Days Later, Nigerian Girls Still Held

Activists holding rallies in Nigeria and several other countries to mark 100th day of captivity for more than 200 schoolgirls being held by Boko Haram More

Chocolate Too Bitter? Swap Sugar for Mushrooms

US food technology company develops fermentation process using mushrooms to reduce bitterness in cocoa beans, believes it will cut sugar content in candy More

This forum has been closed.
Comment Sorting
Comments
     
by: Godwin from: Nigeria
February 25, 2014 10:39 AM
The question is, why did the president not allow the issue being trashed at the Senate to be settled before using the sack/suspension to scuttle the investigation? The president has proved to be the head of the corruption in the country. By this singular act of obstructing justice and getting in the way of punishing corruption, the president has shown that all other issues of corruption, including his inactivity to find, indict or prosecute boko haram and their mentors, are his brain child for milking the country dry. If the president means any good to the country, he should reinstate Sanusi - the Central Bank governor - and allow him and the Senate to finish the business of finding where the $20billion oil money was laundered, before sacking or suspending him. If Nigeria votes, and that is in 2015, Jonathan will not smell a vote from Nigerians whom he has impoverished through the corruption in the country's main foreign exchange earner - the oil industry. If anything, the president has by this action proved to Nigerians public enemy number one.

In Response

by: patrick derrick from: rome italy
February 26, 2014 12:10 PM
the bigger qestion here is,why does he took mallam sanusi so long to provide the necessary documentation as the head of the establisment.and,as far as am concern what Leeds to mallam sanusi sorpension was lack of failure to provide the necessary evidence in which the investigation comittee & the president goodluck has been waiting for since,he was appointed as the cbn governor.but,notwithstanding, the president has made it clear in his public interview,that,he who hires,also, has power to remove.according, to the section 12 of the law of central bank of nigeria.and,moreover,he declear also,that,mallam sanusi free & he every right to come forward with his evidence if he has any.and,what the president accused him of is(MISCONDUCT) of power, in which he can't prove!!!!!!!!!!!!

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
US Carriers Suspend Travel to Israeli
X
Carolyn Presutti
July 23, 2014 1:21 AM
The United States is prohibiting American carriers from flying to Israel's airport in Tel Aviv for 24 hours, because of rising violence between Israel and Hamas militants. The action was announced on Tuesday, after a rocket fired by Hamas militants in the Gaza Strip landed near the airport. As VOA's Carolyn Presutti tells us, international officials soon may have to determine which combat zones are too dangerous for commercial flights.
Video

Video US Carriers Suspend Travel to Israel

The United States is prohibiting American carriers from flying to Israel's airport in Tel Aviv for 24 hours, because of rising violence between Israel and Hamas militants. The action was announced on Tuesday, after a rocket fired by Hamas militants in the Gaza Strip landed near the airport. As VOA's Carolyn Presutti tells us, international officials soon may have to determine which combat zones are too dangerous for commercial flights.
Video

Video NASA Focuses on Earth-Like Planets

For decades, looking for life elsewhere in the universe meant listening for signals that could be from distant civilizations. But recent breakthroughs in space technology refocused some of that effort toward finding planets that may harbor life, even in its primitive form. VOA’s George Putic reports on a recent panel discussion at NASA’s headquarters, in Washington.
Video

Video IAEA: Iran Turns its Enriched Uranium Into Less Harmful Form

Iran has converted its stockpiles of enriched uranium into a less dangerous form that is more difficult to use for nuclear weapons, according to the United Nations’ Atomic Energy Agency. The move complies with an interim deal reached with Western powers on Iran's nuclear program last year, in exchange for easing of sanctions. Henry Ridgwell reports for VOA from London.
Video

Video Relic of Saint Draws Catholics Worried About Immigration Issue

A Roman Catholic saint who is a figure of devotion for those crossing the border into the United States is attracting believers concerned about the plight of undocumented immigrants. Mike O'Sullivan reports from Los Angeles, where a relic of Saint Toribio has drawn thousands to local churches.
Video

Video US Awards Medal of Honor for Heroics in Bloodiest of Afghan Battles

U.S. combat troops are withdrawing from Afghanistan, on pace to leave the country by the end of this year. But on Monday, U.S. President Barack Obama took time to honor a soldier whose actions while under fire in Afghanistan earned him the Medal of Honor. VOA's Jeff Seldin has more from the Pentagon.
Video

Video Ukraine Rebels Surrender MH17 Black Boxes

After days of negotiations, a senior separatist leader handed over two black boxes from an airliner downed over eastern Ukraine to Malaysian experts early Tuesday. While on Monday, the U.N. Security Council unanimously demanded that armed groups controlling the crash site allow safe and unrestricted access to the wreckage.
Video

Video In Cambodia, HIV Diagnosis Brings Deadly Shame

Although HIV/AIDS is now a treatable condition, a positive diagnosis is still a life altering experience. In Cambodia, people living with HIV are often disowned by friends, family and the community. This humiliation can be unbearable. We bring you one Cambodian woman’s struggle to overcome a life tragedy and her own HIV positive diagnosis.
Video

Video Nature of Space Exploration Enters New Age

Forty-five years ago this month, the first humans walked on the moon. It was during an era of the space race between the United States and the Soviet Union. World politics have changed since then and -- as Elizabeth Lee reports -- so has the nature of space exploration.

AppleAndroid