According to reports, the Governor of the Central
Bank of Nigeria, Sanusi Lamido Sanusi might leave
the apex bank before his official tenure expires.
Mr. Sanusi was appointed as head of the bank in
June 2009 by late former President, Umaru
Yar’Adua and is due to leave June 2014.
The governor’s tenure has been riddled with
controversy, ranging from attacks on him for
advocating Islamic banking to the more recent
attempt to introduce a N5,000 note into the
economy.
Nigerian Eye reports :
Sources told our correspondent on Thursday night
that the governor might proceed on terminal leave
by early next year.
The source who preferred not to be named owing to
the sensitive nature of the matter said the terminal
leave had nothing to do with the recent scandal in
the Nigerian National Petroleum Corporation.
According to the source, the need for the terminal
leave became imperative as Sanusi had not been
observing his vacation as and when due.
The source said, “The governor has said it so many
times that he would not be staying longer than his
tenure.
“You will recall that he granted an interview where
he spoke extensively that he won’t want his tenure
to be renewed.
“I think left to the governor, he would even prefer to
go now but there are feelers that he would even go
before his tenure expired in June since he has
some outstanding leave that he hasn’t taken.
“So based on that, he might take his leave early
next year and this might lead him into retirement as
the CBN governor.”
Efforts to get the comment of the Director,
Corporate Communication of the bank, Mr
Ugochukwu Okoroafor proved abortive as he neither
picked calls nor replied text message sent to him on
the issue.
Besides his policies as the CBN governor, Sanusi’s
views on national issues have attracted both
criticisms and commendations.
The CBN governor had in recent times being under
attacks, the recent being his letter to President
Goodluck Jonathan that the sum of $49.8bn was not
remitted to the federation account by the NNPC.
But following the controversy which the letter
generated, a committee was set up to reconcile the
account.
But the committee failed to produce a concrete
explanation for the unremitted oil revenue.
For instance, while the Minister of Finance, Dr Ngozi
Okonjo-Iweala stated that the sum of $10.8bn is the
amount unaccounted for, Sanusi recanted and said
the unremitted fund was $12bn.
Prior to this controversy, the governor had in 2011,
incurred the wrath of the National Assembly when at
the 7th convocation lecture of the Igbinedion
University, Okada, Edo State, he said that 25 per
cent of the country’s overheads were being spent
on the federal legislators.
The National Assembly members were
embarrassed by the scrutiny Sanusi’s lecture
attracted to them.
The Senate invited the CBN governor to appear
before its Committee on Appropriation to defend
himself.
Few months later, the CBN governor stirred up
another controversy. It was in June 2011 when he
unfolded the bank’s agenda on Islamic banking.
Unlike the jumbo pay controversy, where he
received the support of Nigerians, Sanusi’s
insistence on Islamic banking divided the country
along religious lines.
While the Christian Association of Nigeria opposed
his plan, Muslims groups gave him their backing.
When the fuel subsidy removal debate began,
Sanusi was not left out of it. Amid protests against
the removal, he said on January 5, 2012, “The
limited resources of government should be allocated
to support production, especially if we are running a
budget deficit.
“We cannot keep borrowing to support conspicuous
consumption. We cannot even begin to do this if 30
per cent of government expenditure is on fuel
subsidy, if out of the balance, 70 per cent is
recurrent spending, 10 per cent is for debt service,
10 per cent goes to the Niger Delta and only 10 per
cent is capital expenditure.”
While Nigerians were still battling with the fuel
subsidy problem, the CBN governor ignited another
‘fire’ when on January 27, 2012, the Kano prince
linked the activities of the militant Islamic sect,
Boko Haram, with the 13 per cent derivation fund
being given to oil-producing states.
Sanusi also stirred up another controversy when he
revealed plans to introduce the N5,000 note,
following its approval by President Goodluck
Jonathan
The decision was widely condemned by Nigerians,
including former President Olusegun Obasanjo, who
argued that it would stimulate inflation.
Bank of Nigeria, Sanusi Lamido Sanusi might leave
the apex bank before his official tenure expires.
Mr. Sanusi was appointed as head of the bank in
June 2009 by late former President, Umaru
Yar’Adua and is due to leave June 2014.
The governor’s tenure has been riddled with
controversy, ranging from attacks on him for
advocating Islamic banking to the more recent
attempt to introduce a N5,000 note into the
economy.
Nigerian Eye reports :
Sources told our correspondent on Thursday night
that the governor might proceed on terminal leave
by early next year.
The source who preferred not to be named owing to
the sensitive nature of the matter said the terminal
leave had nothing to do with the recent scandal in
the Nigerian National Petroleum Corporation.
According to the source, the need for the terminal
leave became imperative as Sanusi had not been
observing his vacation as and when due.
The source said, “The governor has said it so many
times that he would not be staying longer than his
tenure.
“You will recall that he granted an interview where
he spoke extensively that he won’t want his tenure
to be renewed.
“I think left to the governor, he would even prefer to
go now but there are feelers that he would even go
before his tenure expired in June since he has
some outstanding leave that he hasn’t taken.
“So based on that, he might take his leave early
next year and this might lead him into retirement as
the CBN governor.”
Efforts to get the comment of the Director,
Corporate Communication of the bank, Mr
Ugochukwu Okoroafor proved abortive as he neither
picked calls nor replied text message sent to him on
the issue.
Besides his policies as the CBN governor, Sanusi’s
views on national issues have attracted both
criticisms and commendations.
The CBN governor had in recent times being under
attacks, the recent being his letter to President
Goodluck Jonathan that the sum of $49.8bn was not
remitted to the federation account by the NNPC.
But following the controversy which the letter
generated, a committee was set up to reconcile the
account.
But the committee failed to produce a concrete
explanation for the unremitted oil revenue.
For instance, while the Minister of Finance, Dr Ngozi
Okonjo-Iweala stated that the sum of $10.8bn is the
amount unaccounted for, Sanusi recanted and said
the unremitted fund was $12bn.
Prior to this controversy, the governor had in 2011,
incurred the wrath of the National Assembly when at
the 7th convocation lecture of the Igbinedion
University, Okada, Edo State, he said that 25 per
cent of the country’s overheads were being spent
on the federal legislators.
The National Assembly members were
embarrassed by the scrutiny Sanusi’s lecture
attracted to them.
The Senate invited the CBN governor to appear
before its Committee on Appropriation to defend
himself.
Few months later, the CBN governor stirred up
another controversy. It was in June 2011 when he
unfolded the bank’s agenda on Islamic banking.
Unlike the jumbo pay controversy, where he
received the support of Nigerians, Sanusi’s
insistence on Islamic banking divided the country
along religious lines.
While the Christian Association of Nigeria opposed
his plan, Muslims groups gave him their backing.
When the fuel subsidy removal debate began,
Sanusi was not left out of it. Amid protests against
the removal, he said on January 5, 2012, “The
limited resources of government should be allocated
to support production, especially if we are running a
budget deficit.
“We cannot keep borrowing to support conspicuous
consumption. We cannot even begin to do this if 30
per cent of government expenditure is on fuel
subsidy, if out of the balance, 70 per cent is
recurrent spending, 10 per cent is for debt service,
10 per cent goes to the Niger Delta and only 10 per
cent is capital expenditure.”
While Nigerians were still battling with the fuel
subsidy problem, the CBN governor ignited another
‘fire’ when on January 27, 2012, the Kano prince
linked the activities of the militant Islamic sect,
Boko Haram, with the 13 per cent derivation fund
being given to oil-producing states.
Sanusi also stirred up another controversy when he
revealed plans to introduce the N5,000 note,
following its approval by President Goodluck
Jonathan
The decision was widely condemned by Nigerians,
including former President Olusegun Obasanjo, who
argued that it would stimulate inflation.
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