The biggest mistake of the military regime of General Muhammadu Buhari/Tunde Idiagbon was the sudden change of Nigerian currency.This can be equated to the present blunder of the suspension of Governor of the Central Bank of Nigeria (CBN), Malam Sanusi Lamido, by incumbent President Goodluck Jonathan. This will not only affect our currency but also his administration and as well as scareaway potential investors from Nigeria.
I was privileged to attend the Arewa Consultative Forum (ACF) conference held in Kaduna last week where the Chairman of Leadership Newspapers, Mr Sam Nda-Isaiah, a presidential aspirant, in his speech gave an insight into the missing NNPC $20 billion.To my dismay, NTA reported the event but excluded Nda-Isaiah speech. While trying to cover-up the investigation of the missing $20 billion they immediately suspended the apex bank governor without shame trying to tarnish his hard earned image which from all indications has started backfiring.
Is it not funny to say Sanusi is incompetent when his appointment as the CBN governor was based on merit? His transformation of the banking sector is no secret. It is no longer news that all eyes are on the legislature to see what they will do!The suspension of Sanusi reminds me of an old friend, a pastor and former general manager in one of the biggest and dependable banks in the country and with whom I have a better relationship than Sanusi even though we come from the same state of Kano.He, along with another friend, paid me a visit at my new office in Kaduna and afforded me an insight into the banking industry.
It was through him that I began to understand and respect Sanusi’s reforms and the chaos we have been calling banking.I remember his parting words, that we must forget sentiment “Lamido is God-sent! In fact, he is a saviour, considering the situation in which he met Nigerian banks.
I am in fear and confused about what will happen if this man doesnot go for a second term”. He told me that butfor Sanusi’s efforts by now if I were asked to deposit my money in a bank, he doubts if I would do so!
Sanusi’s position is one of thosefew that adds image and credibility to the Jonathan administration. Unfortunately, just few months to the completion of his tenure he was suspended with all the sacrifice and transformation he has made.
It is not surprising if we can reflect on a song by Ningi that “PDP muguwaruwa me kasheyayanta”(PDP is a wicked mother who kills even her children). The decision is symptomatic of the desperation that has gripped the presidency and its allies in the wake of the troubling allegations by Sanusi that public officials in the Nigeria National Petroleum Corporation (NNPC) are looting the country blind in the name of subsidy payments.
To my knowledge, the allegations have not been coherently answered by the NNPC or the government.I am not a lawyer but I understand that as far as the law goes, the purported suspension of the governor is unwarranted. Section 11 of the Central Bank of Nigeria Act, 2007 clearly states instances when the governor or any of his deputies would cease to remain in office. For the avoidance of doubt, none of such instances include suspension by the President.
This suspension is like the hiding of an ostrich. One funny thing about her hiding is that she runs very fast to hide but she will only hide her head while the rest of the body is exposed, believing no one sees her. Reactions in the social and print media, from people of integrity both within and outside the country, show that the presidency has finally lost control. Personally, I pity Mr President because every leader wishes to leave a worthy legacy, to learn from his past record rather than from his past mistakes.
There is no way Jonathan would commit such blunder single-handedly without consultation or without considering the implication.
Sanusi is renowned as a highly principled professional and a fearless fact writer! However you can only be fearless, frank, principled and win public confidence if you are not a dubious criminal and liar. Many Nigerians will now agree that the people that encircle the president are not only his enemies but are the enemies of our country.The truth will prevail very soon.
I am not a politician and hope not be, but one thing I have noticed about PDP is that majority of its members are in the party not because they like the party but because they are blackmailed to be there and those decamping to the party are doing so in order to get protection. This is my personal perception backed by over 101 references mostly confessions from the members. Surely, this action of Mr President is the biggest blunder of the century! Nigerians are not fools!
