Sanusi Reacts To Suspension, May Be Arrested Soon

The ousted controversial Governor of Central Bank of Nigeria, CBN, Sanusi Lamido Sanusi, has disclosed that he would challenge the Federal Government’s action when he returns to the country.

Sanusi was suspended from office on Thursday by President Goodluck Jonathan for alleged ‘financial recklessness’. The former CBN boss was directed to hand over to the most senior Deputy Governor of CBN, Dr Serah Alade. Sanusi was not in the country when his suspension was announced by the FG. He is presently on an official assignment with the new acting CBN Governor.

Speaking with CNBC Africa from Niger Republic, Sanusi stated that he does not intend to return to the job, but will, however, challenge his removal to establish if the President has the power to fire a CBN Governor.

Sanusi said, “if it (the decision) is not challenged, then from now, the next CBN governor cannot be independent. He can be suspended for any reason, and the independence of the CBN would be totally undermined. It is important to establish the point legally whether this can happen. I do plan to ask the court to confirm if, indeed, that authority exists. I will challenge it.”

He added that, “it has never been my desire to hold on to a job. However, I believe if the CBN governor cannot be removed from office, then he cannot be suspended. He can be queried, but the exercise of the arbitrary decision to remove him must be challenged.”

Sanusi stated further that, “as an individual, I was invited to serve my country, and I have always known that at any point the government feels it is time to go, I will go. But, in terms of the institution, it would be helpful to establish the principle by the court, and I think that is the step I intend to take.”

Meanwhile, there are indications that Sanusi may be arrested as soon as he returns to Nigeria.

Sanusi is presently away in Niamey, Niger, where is attending a three-day conference of West African Central Bank Governors.

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