Friday, February 21, 2014

OPINION: Sanusi Lamido's Suspension Is Illegal - APC

Did President Goodluck Jonathan act like a bull in the China shop in suspending the governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi.
The opposition APC, citing legal and other reasons believe so.
The party in a statement today said the suspension of Sanusi Lamido is patently illegal, poorly thought-out and in bad taste, noting that it will definitely have negative consequences for the nation’s economy.
Interim National Publicity Secretary, Alhaji Lai Mohammed, also said the action is the clearest indication yet that President Jonathan, whose body language does not abhor corruption, is willing to silence any whistle-blower, no matter his or her status.
”As the country wallows in unprecedented corruption under the rudderless and corruption-hugging Jonathan Administration, the President may have finally decided to send a strong signal to all Nigerians that it will not tolerate any exposure of corruption under any circumstance. What better way to do this than to silence the man who has exposed the alleged missing 20 billion dollars in the NNPC accounts?” it queried.
APC said that Sanusi’s suspension has also shown clearly that President Jonathan as a leader does not care if he destroys national institutions on the altar of personal ego and political expediency.
President Goodluck Jonathan
President Goodluck Jonathan
”First it was the judiciary which came under his sledge hammer, when he suspended then President of the Court of Appeal, Justice Ayo Salami, just to satisfy the hawks in his party. Then it is the turn of the National Assembly, the Police and now the financial sector. President Jonathan should not destroy our institutions before he bows out of office next year. These institutions are older than him and will definitely outlive him,” APC warned.
The party said while Section 11 (f) of the CBN Act 2007 empowers the President to remove the CBN Governor, the
section is clear that he can only do so if he has the support of two-thirds majority of the Senate.
”Nowhere in the Act is it said that the President can suspend the CBN Governor, as he has done in another of his serial rape of the country’s laws,” it said.
The party added that the reasons given by the presidency for Sanusi’s suspension are as puerile as they are
unprecedented, and amount to calling the dog a bad name just to hang it.
The party said the questions that arise, based on those ridiculous reasons, are: ”Why has it taken almost five years of Sanusi’s tenure for the President to realize the irregularities of CBN under Sanusi? Why is the President acting on questionable allegations against Sanusi at a time the CBN Governor has opened the can of worms in the NNPC? Why has a President, who has always treated glaring corruption allegations against his political appointees with so much levity, now so quick to move against a CBN Governor who has never been accused, let alone indicted of corruption?
APC expressed serious concerns at the implication of Sanusi’s suspension for the nation’s economy, especially on the value of the Naira; local and international investments; the stock market; inflation and the overall health of the economy.
”Coming at a time when the economy was already under pressure due to internal and external factors and is in need of significant investments in several sectors, such as power and manufacturing to maintain its economic growth rates, the uncertainty caused by the suspension will leave both local and international investors questioning the economic direction of the country and therefore their investment approach to Nigeria.
Source: PM News