RE: [IgboWorldForum] RE: Fw: MY STORY, BY SANUSI LAMIDO SANUSI

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Rex Marinus

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Feb 23, 2014, 10:49:25 PM2/23/14

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Nwanna,
The foundations of democracy or a constitutional government is the rule of law. I'd like to emphasize this. The rule of law governs the conduct of every public office, and provides the necessary limits and checks that make it impossible for institutions to be arbitrary. The history of the Nigerian crisis as a nation goes to a tendency to ignore the law and act above the precepts that guarantee civilized conduct. The highest manifestations of this kind of lawlessness was the military governments in which individuals embodied, or saw in themselves as embodying, the ne plus ultra of the state. The military Head of State had the power of life and death; he could sack, prosecute, execute, and even erase any public office or official because every power of the state was vested in a single command authority. We fought for democracy to create a balance of power and authority.

One of the cardinal rules in our current democratic state is that the National Assembly has authority and keeps all the money belonging to the Federation of Nigeria. Until it authorizes the executive branch by approbation, no money belonging to the Federal government can be disbursed or spent. This money belonging to the nation is under the care of the bankers of the Federal Government, the Central Bank, whose governor is not only the head of the Bank of records but is an economic policy adviser not only to the president but to the National Assembly. In that role, the CBN governor answers to both institutions - the executive branch and the Legislative branch. It is thus protected from the vagaries and whims of either branch by the clauses spelling out the independence of that office, and the process by which any occupant of said office might be removed before expiry of the normal statutory term of 5 years. The CBN governor DOES NOT serve at the pleasure of the President. The president thus has no authority, except by the affirmation of 2/3 of the senate to remove the CBN governor. The Act establishing the office does not authorize the president to SUSPEND even for a minute the function of that office or its occupant within the given term, except by the means established for that purpose. The president has, in ignoring these requirements, taken an extraordinary step that undermines the integrity of that office, and the basic principle for which parliament in enacting the law in the first place, granted the office protection from executive overreach. Such an action by the president threatens the rule of the laws under which his own office as President of the Republic is established. We must be clear on this.

Look, this matter is not about Sanusi, and we should stop being myopic. Sanusi might go, and Jonathan will certainly go someday, and Emefiele might succeed Sanusi, but it will be to a much diminished office with this precedence. Perhaps an Abubakar might someday come to power, and an Opara might be CBN governor, and might, with this precedence, be suspended, for refusing to release an unauthorized fund to the presidency, given the compromise we are prepared to make today. Look beyond Sanusi. When we permit the chipping away of the laws that establish our democratic state, we permit the onset of tyranny, and nothing will protect us. Again, the CBN governor does not serve at the pleasure of the president. That is the law.
Obi Nwakanma

Obi, one like my very self has not bothered to read to determine if the president has powers or not to relieve Sanusi of his job or not, and I will not invest my time in that. Fact is Sanusi became an issue, and seemed to enjoy being the issue, and no thinking person need relish Sanusi sitting in public space and distracting everyone and everything. I continue to say that I thought Sanusi was smart enough to know when to leave, whether it was time - statutorily or not, but sheer arrogance failed him in that. You are talking about relieving a CBN governor of his position "rocking the foundation of democracy". That is crap. Who elected Sanusi to anything? Well we have democracy, some of you think, but I call it Lootocracy. Now, if Sanusi thinks or believes there is democracy in Nigeria, what he needs do now is suit up, arm himself and go wrestle the presidency away from Jonathan. Such is the fight democracy entertains. I cannot for the life of me understand why heavens should collapse becasue some man was relieved of duties he was appointed, not elected to cater to. If we are thinking peoples, why was there no uproar when the man began throwing figures about that had power to throw the economy off track or did you guys not follow him and observe how he talked? Now if Sanusi is going to run to wrestle the presidency from Jonathan, he must know he has others to contend with in the field including Buhari, who he, Sanusi had said was only about corruption. Then Sanusi will have to tell us what his presidency will be about. Meanwhile, the milk is spilt, and we know Nigerian loves dwelling over spilt milk, and I know milk that don't mean a thing to the well being of Nigeria and Nigerians.

On Sunday, February 23, 2014 6:12 PM, Rex Marinus <rexma...@hotmail.com> wrote:

The substantive question in this matter is being buried in all the chatter about Sanusi's conduct in office. The fundamental question is, DOES THE PRESIDENT HAVE THE POWER TO SUSPEND OR EVEN PROSECUTE the Central bank governor? The answer is actually, no. Sanusi may have failed in the execution of his sworn duties. It is incumbent on the president to take the following steps:
A) Write to the senate to commence a hearing
B) Notify the appropriate police authority to commence investigation of the Governor.

In the event that there is compelling evidence, following the senate hearing, and an indictment is procured, the president could then ask for a vote in the senate to support his move to remove the CBN governor from office. Following his removal, and with compelling evidence, the Attorney General may then begin his prosecution for misuse of office. Those are separate issues.

But the President CANNOT subvert the process clearly laid down by the laws of the federation. The powers of the state do not rest absolutely with him. There are three arms that make up a democratically elected Federal Government, and there is the RULE of LAW. Every attack on Sanusi may actually be justified, yet, the manner of his removal cannot, and should in fact not stand in court because it will be a subversion of the critical foundation of our democracy in which there is the principle of the delineation of power. A lot of Nigerians are still hung up on the kind of absolute power that inhered in the person of the Military President. That power no longer exists, because there is in its place, a constitutional government. That is the point of all this! Jonathan has not received fair counsel, and its just a shame the quality of advise around him.
Obi Nwakanma

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From: hyacinth...@yahoo.com
Date: Sun, 23 Feb 2014 13:06:28 -0800
Subject: Re: [IgboWorldForum] Fw: MY STORY, BY SANUSI LAMIDO SANUSI

Sanusi said, "can you imagine a sitting minister on national television saying they spent money without appropriation....to me, that is not financial recklessness." Now, the same Sanusi has admitted that he single handedly donated N100 million to Kano citizens during the bomb last attack. Also, confessed that he donated the sum of N500 million to the Benue state flood victims, but under whose permission or approval was all this money withdrawn from the nation's treasury, is another issue. Yet, Sanusi said it was not act of recklessness.

Mr. Sanusi, you claimed to be educated; if so, what is your definition of recklessness when there is no proof or evidence that such money was judiciously spent. How much did Sanusi donate to the flood victims in Enugu state; and how much did he donate to the victims of Christmas bombing in Abuja that claimed many innocent lives? Yet, Sanusi wants to employ the concept of corporate social responsibility to cover his unethical behavior and fiduciary irresponsibility. Well, like some one has already said, if Sanusi is let go, then all the prison gates in the country should be kept open!!

H. U. Nwachukwu

On Sunday, February 23, 2014 10:30 AM, Hy Enyinnia <heny...@yahoo.com> wrote:

On Sunday, February 23, 2014 9:00 AM, stanley igboanugo <igboan...@yahoo.com> wrote:

My story, by Sanusi Lamido Sanusi

on February 23, 2014 / in News 2:00 am / Comments

By Gbenga Oke

In the beginning

As at the time I came into office, several things had collapsed. From banks to stock exchange, they had crashed. Inflation was at 15.6percent three months before I became Central Bank Governor; there was already instability in every sector of the economy. When I look back, I thank God for the people who supported us and criticized us as well because criticism has made us stronger. Also, when I look back, I can point to several things that have changed after our arrival and till date.

Keeping inflation down

For the first time in a long while, we have been able to keep inflation at about 7percent since January 2013 and it is still like that up till this moment. As far as instability and exchange rate is concerned, we have worked tirelessly to ensure things work out well for the economy.

We also introduced cash reduction in the system. Although most people didn’t like it because they felt it will add more problem to the exchange rate because people want to buy dollars but against all odds, the cashless policy has worked and it’s still working today.

*Sanusi

On the face-off between CBN and NNPC

On the face-off between CBN and NNPC, I must say that we are not EFCC. What I have been talking about is the areas that affect my job which have been a dwindling in the money that comes into the Federation Account. Let me make it clear, the disputed $20billion may be gone. And what some people want is the continuity of this; that stealing of public funds should continue.

On his suspension

I must say that there was no time when the CBN received any letter from the Financial Reporting Council of Nigeria. At no point were we given any letter to respond to over any financial allegations. Also, nothing in the letter declared that I did anything wrong. I can tell you that CBN does not operate the way it’s been presented because all facts and statements of account are there for everybody to see. They said we spent N1.2billion on the police – even if that is true, is that corruption? Did I set up my security outfit and pay myself? I want to repeat that I have had my last day in office. I have achieved everything I set out to achieve. Looking at the suspension letter, I was not given the benefit of doubt to respond or explain myself.

Court order

However, I have a court order now enforcing my fundamental human right because once they seize your passport, you don’t know the next step they will take. I took an exparte motion to court to ensure I am not harassed.

On the allegation that he is partisan

When I was in King’s College, I was in Form 2 when Bukola Saraki came into Form 1. He has been my friend since we were 11years old. Also, El- Rufai has been my friend. I never knew I will be CBN Governor because I had wanted to study law, also Bukola Saraki never knew he would become a politician because he read medicine. These people remain my friends and, with all sincerity, every one of us has friends across political divides. These are things some Nigerians categorize and accuse me of being a politician. Also, I had known Governor Fashola and Bola Tinubu since I was in First Bank. I am a Lagos boy as well and my children were all given birth to and groomed in Lagos. When Nasir El- Rufai heard what happened, he decided to come to the Lagos airport so that if I am going to be arrested, it will be in the company of some of my friends. He never came to the airport as an APC member but as a friend. I am not a politician but people think I am one.

What next on NNPC

It is not my responsibility anymore but I can comment as a Nigerian. I can talk if I feel like. I believe nobody will challenge me that I did not speak out when I was supposed to as CBN Governor. If the next CBN Governor wants to pursue the missing funds matter or the National Assembly wants to go ahead, they are free of do so. Can you imagine a sitting Minister on national television saying they spent money without appropriation. In any other country, such minister has sacked herself. To me, that is not financial recklessness.

Let me simply ask, if the Nigerian Constitution says don’t spend money without appropriation or says don’t pay subsidy and the Minister went ahead to pay, is it not a political problem? Technical problem is what we deal with at CBN, we deal with CRR and other issues.

In this kind of situation of investigation going on, you are supposed to either keep quiet as a wise man or walk away. But as you can see, I am not a wise man.

Donation of 100million

It is called principle of donation. During the Ikeja bomb blast explosion, the CBN Governor then, Joseph Sanusi, gave N10million. So I was not the first person to do that. This is contained under Corporate Social Responsibility. The blast in Kano did not affect Kano citizens alone, SSS offices, police stations were attacked and these are federal offices which have several people from the South working there. I can tell you that 80percent of the victims of that bomb attack are not Kano citizens, there were several Christians from the South involved and I gave N100million to their families. What is bad in that? Why are people not complaining about the N500million I compelled the Bankers Committee to give to flood victims in Benue State and other places? What is wrong in it? With CSR, you cannot do everything in all the 36states of the federation; you will do the little you can.

Mint printing!

This is one area that we have been able to cut down on spending. In 2012, CBN spent N38billion on mint printing down from the N49billion spent in 2011. In 2013, we spent N35billion and, in my 2014 budget, my plan was to spend N30billion. So we have been bringing down the cost of printing.

Under the Fiscal Responsibility Act of the CBN, we contribute 80percent into the Federation Account. In 2008 before I became Governor, CBN contributed N8billion into the Federation Account. In my last year, we gave N159billion. In 2012, we gave N80billion, in 2011, we gave N60billion. In the first four years of my term as CBN Governor, we gave government about N279billion. The National Assembly called to commend me. We have been able to give N600billion from surplus alone and the money is made from prudent finance, cutting down currency expenses, every over headline has gone down. So I can say, with all sense of humility, that the last thing anybody can accuse me of is financial recklessness

Sanusi thinks he is smart, and that all Nigerians are fools.
Here was a CBN gov. who was queried by the Presidency for questionable
financial transactions boarding on monumental fraud running into trillions.
Sanusi was aware of an impending disgrace coming on his way sooner or later, sanusi
himself confirmed that he had expected the sack, so what did he do; play smart,
divert the heat to cry baby NNPC,raise false alarm, cry wolf, gullible Nigerians
will buy into it as far as its about corruption. He was so confused in his thinking,
that he wouldn't know what figures to give. The figures he gave, because he was
lying became an albastross on his neck. He tried to blackmail the presidency with
his bogus letter about fraud in NNPC, when he has not been cleared himself of fraud
running into trillions.

He decided to leak the said letter to a gullible press and
OBJ, the heat of that letter became too hot for him, he couldn't prove his case.
Few Nigerians became suspicious of his intents. Raising an alarm over an incident
of over 20 months which he does not have the facts shows that the man is not well.

It now down on Fellow Nigerians that the man who shouted
loudly about thief! thief!! Thief!!! Was the actual thief himself. He tried to play smart to assume the
role of a whistle blower, so that when the bubble burst, he could use that as
an alibi for his crime; that he is being persecuted because he is whistle
blower.

No individual in the history of Nigeria has engaged in this
scale of financial recklessness, institutional fraud, and show of unbridled
arrogance, and impunity. If sanusi is not arrested and prosecuted immediately,
they should open the prison gates and allow every prisoner to walk home as free
citizens.

Every lawyer is quoting the CBN ACT, 2007 11(2)(f)

Nobody is quoting: section 11,(2),(C)

11. – (1) A person shall not remain a Governor, Deputy
Governor or Director of the Bank if he is-

(2)(c)"is
guilty of a serious misconduct in relation to his duties under this Act;"

Who is going to be the executor of this section? Is it the
board which sanusi is the head, or who?

Obviously it’s the president. And the president does not
need the senate to invoke this section.

This section stipulates express removal of the CBN by the president.

RE: [IgboWorldForum] RE: Fw: MY STORY, BY SANUSI LAMIDO SANUSI

Rex Marinus

My story, by Sanusi Lamido Sanusi

Rex Marinus

Chidi Anthony Opara