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

    Top US General: Turkish Media Report ‘Absurd'

    General Dunford rejects ‘irresponsible' claims of coup involvement by former four-star Army General Campbell, who led NATO forces in Afghanistan before retiring earlier this year

    Video Saving Ethiopian Children Thought to Be Cursed

    'Omo Child' looks at efforts of one African man to stop killings of ‘mingi’ children

    Protests Over Western Troops Threaten Libyan 'Unity' Government

    Fears mount that Islamist foes of ‘unity' government plan to declare a revolutionaries' council in Tripoli

    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!!!!!!!!!!!!

    By the Numbers

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    London’s Financial Crown at Risk as Rivals Eye Brexit Opportunitiesi
    X
    VOA News
    July 25, 2016 5:09 PM
    By most measures, London rivals New York as the only true global financial center. But Britain’s vote to leave the European Union – so-called ‘Brexit’ – means the city could lose its right to sell services tariff-free across the bloc, risking its position as Europe’s financial headquarters. Already some banks have said they may shift operations to the mainland. Henry Ridgwell reports from London.
    Video

    Video London’s Financial Crown at Risk as Rivals Eye Brexit Opportunities

    By most measures, London rivals New York as the only true global financial center. But Britain’s vote to leave the European Union – so-called ‘Brexit’ – means the city could lose its right to sell services tariff-free across the bloc, risking its position as Europe’s financial headquarters. Already some banks have said they may shift operations to the mainland. Henry Ridgwell reports from London.
    Video

    Video Recycling Lifeline for Lebanon’s Last Glassblowers

    In a small Lebanese coastal town, one family is preserving a craft that stretches back millennia. The art of glass blowing was developed by Phoenicians in the region, and the Khalifehs say they are the only ones keeping the skill alive in Lebanon. But despite teaming up with an eco-entrepreneur and receiving an unexpected boost from the country’s recent trash crisis the future remains uncertain. John Owens reports from Sarafand.
    Video

    Video Migrants Continue to Risk Lives Crossing US Border from Mexico

    In his speech Thursday before the Republican National Convention, the party’s presidential candidate, Donald Trump, reiterated his proposal to build a wall along the U.S.-Mexico border if elected. Polls show a large percentage of Americans support better control of the nation's southwestern border, but as VOA’s Greg Flakus reports from the border town of Nogales in the Mexican state of Sonora, the situation faced by people trying to cross the border is already daunting.
    Video

    Video In State of Emergency, Turkey’s Erdogan Focuses on Spiritual Movement

    The state of emergency that Turkish President Recep Tayyip Erdogan has declared is giving him even more power to expand a purge that has seen an estimated 60,000 people either arrested or suspended from their jobs. VOA Europe correspondent Luis Ramirez reports from Istanbul.
    Video

    Video Calm the Waters: US Doubles Down Diplomatic Efforts in ASEAN Meetings

    The United States is redoubling diplomatic efforts and looking to upcoming regional meetings to calm the waters after an international tribunal invalidated the legal basis of Beijing's extensive claims in the South China Sea. VOA State Department correspondent Nike Ching has the story.
    Video

    Video Four Brother Goats Arrive in Brooklyn on a Mission

    While it's unusual to see farm animals in cities, it's become familiar for residents of Brooklyn, New York, to see a little herd of goats. Unlike gas-powered mowing equipment, goats remove invasive weeds quietly and without adding more pollution to the air. As Faiza Elmasry tells us, this is a pilot program and if it proves to be successful, the goat gardener program will be extended to other areas of New York. Faith Lapidus narrates.
    Video

    Video Scientists in Poland Race to Save Honeybees

    Honeybees are in danger worldwide. Causes of what's known as colony collapse disorder range from pesticides and loss of habitat to infections. But scientists in Poland say they are on track to finding a cure for one of the diseases. VOA’s George Putic reports.
    Video

    Video Wall Already Runs Along Parts of US-Mexico Border

    The Republican Party’s presidential nominee, Donald Trump, gained the support of many voters by saying he would build a wall to keep undocumented immigrants and drugs from coming across the border from Mexico. Critics have called his idea impractical and offensive to Mexico, while supporters say such a bold approach is needed to control the border. VOA’s Greg Flakus has more from the border town of Nogales, Arizona.
    Video

    Video New HIV Tests Emphasize Rapid Results

    As the global fight against AIDS intensifies, activists have placed increasing importance on getting people to know their HIV status. Some companies are developing new HIV testing methods designed to be quick, easy and accurate. Thuso Khumalo looks at the latest methods, presented at the International AIDS conference in Durban, South Africa.
    Video

    Video African Youth with HIV Urge More Support

    HIV, the virus that causes AIDS, is the top killer of teens in sub-Saharan Africa. But many youths say their experience with the virus is unique and needs to be addressed differently than the adult epidemic. VOA South African Correspondent Anita Powell reports.
    Video

    Video Pop-Up Art Comes to Your Living Room, Backyard and Elsewhere

    Around the world, independent artists and musicians wrestle with a common problem: where to exhibit or perform? Traditional spaces such as museums and galleries are reserved for bigger names, and renting a space is not feasible for many. Enter ArtsUp, which connects artists with venue owners. Whether it’s a living room, restaurant, office or even a boat, pop-up events are bringing music and art to unexpected places. Tina Trinh has more.
    Video

    Video Scotland’s Booming Whisky Industry Fears Brexit Hangover

    After Britain’s vote to leave the European Union, Scotland’s government wants to break away from the United Kingdom – fearing the nation’s exports are at risk. Among the biggest of these is whisky. Henry Ridgwell reports on a time of turmoil for those involved in the ancient art of distilling Scotland’s most famous product.

    Special Report

    Adrift The Invisible African Diaspora