An Abuja Federal High Court yesterday fixed May 20, to decide whether the suspended Governor of the Central Bank of Nigeria CBN, Malam Sanusi Lamido Sanusi, would be reinstated into his office or not.
The federal government had on February 19, this year, suspended Sanusi over reports by the Financial Reporting Council of Nigeria (FRCN) alleging him (Sanusi) of financial recklessness.
Not satisfied with his suspension, Sanusi had through his counsel, Kola Awodein, approached the court challenging his suspension and praying for an order of reinstatement.
Joined in the suit are President Goodluck Jonathan, Attorney General of the Federation and the Inspector General of Police as first to third respondents.
All the respondents have earlier brought a Preliminary Objection praying the court to dismiss the suit.
Arguing the Originating Summons, Sanusi through his counsel told the court that the CBN Act “effectively prohibits the President from suspending the CBN governor.”
He argued that the intention of the legislature who enacted the CBN Act is not to give powers to the Executive to suspend.
Awodein added that the defendant had unlawfully interfered with the operational independence with the suspension of the CBN governor and that the interference had grave consequences on monetary policies.
Counsel to President Goodluck Jonathan, Fabian Ajogwu, in his response to Sanusi’s argument, said the CBN governor was suspended for awarding contracts beyond his approval limit.
In his own submission, counsel to the AGF, Chief Mike Ozekhome, argued that the suspension of the plaintiff was in order and that the court should so hold.