Kano reportedly on Fire after announcement of Sanusi as new Emir

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Going by the tweets of Jamil Abubakar, Son of Inspector General of Police, riot has broken out in Kano state after the announcement of former CBN governor Alhaji Sanusi Lamido Sanusi as the newest Emir of Kano. Based on his tweets, Jamil says the people of Kano aren't happy with the announcement and are causing trouble in the town. He however says the problem has been brought in check and no life was lost.

We also learnt that the four members of the kingmaker council selected their nominees for the consideration of the governor last night. A source however said “the governor asked them to go back and return with a single consensus candidate”.

Suspension: Court refuses Sanusi’s ex parte motion.

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Hope of early return to office by the suspended Governor of Central Bank of Nigeria, Mallam Lamido Sanusi, was dashed on Wednesday when an Abuja Federal High Court refused an ex parte motion he filed in a bid to set aside his suspension by President Goodluck Jonathan.

The court instead ordered that the President should be put on notice, and fixed March 12 for both sides to argue the motion.

Report predicts naira devaluation on Sanusi’s suspension

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The naira is at risk of being devalued after President Goodluck Jonathan suspended the Central Bank Governor, Mr. Lamido Sanusi, last week, eroding confidence in monetary policy and sending the naira to a record low.

Bloomberg reported that the naira, which rose for the first time in six days on Monday, posted its biggest five-day drop in eight months last week.

The yield on Nigeria’s July 2023 dollar bond had its steepest one-day jump on record after Sanusi’s removal on February 20. The security has lost 2.3 per cent this year, compared with a 0.6 per cent drop in the JPMorgan Chase & Co. index of African sovereign debt.

Sanusi Is Still CBN Governor - Pres. GEJ Insists

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President Goodluck Jonathan has noted that Sanusi Lamido Sanusi is still the governor of the Central Bank of Nigeria.  Jonathan made this statement during the presidential media chat held on Monday evening. The President also stressed the fact that Sanusi was only suspended to give room for investigation into the allegation of financial recklessness levelled against him.  He assured that Sanusi will be restored to his position if he is not guilty at the end of the investigation.

Sanusi - Pres. Jonathan: You can’t suspend the truth

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 I have no  regrets;  I   have no ill-feelings  and with no sadness.  I’m happy; I’m proud of what I have done.”

These were the words of  Lamido Sanusi  as he reacted to his suspension  as the Central Bank of Nigeria governor by President Goodluck Jonathan on Thursday.

Although it was learnt that  he might  challenge his suspension in court, Sanusi  reminded the Jonathan administration: “You can suspend an individual but you can’t suspend the truth.”

Sanusi, who added that   his suspension did not bother him, said his  “biggest concern is for the system .”

Suspension: Sanusi to challenge it in court

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In an interview with CNBC Africa this morning, Sansui Lamido Sanusi, who currently in Niger Republic attending an official ECOWAS event, says he will challenge his suspension.

Sanusi tells CNBC Africa

"I have been told by my office that a letter was received. As you know, I flew in this morning to Niamey along with other Governors of West African Central Banks to meet with the President of Niger and President of Ghana. Fortunately, I came in with my VP Sarah Alade whom I have been asked to hand over to. I have left the meeting to hand over to her. I have just met the Nigerian Ambassador to Niger who confirmed to me that the President asked him to inform me of the decision.

President Jonathan Suspends CBN Governor Sanusi

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President Goodluck Jonathan today ordered the suspension of Nigeria's Central Bank Governor, Sanusi Lamido Sanusi, weeks after the CBN Governor exposed the theft of at least $20 billion by officials of  Nigerian petroleum ministry.

 A press release issued by the spokesperson to the President, Reuben Abati explained that the CBN governor was suspended because of reports by the Financial Reporting Council claiming the CBN governor had engaged in "financial recklessness and misconduct". The release did not specifically name any particular financial crime but goes ahead to announce a replacement for Mr. Sanusi.

Pic: President Jonathan spotted with CBN Governor at Davos.

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About 3 weeks back , it was in the news that Leader Jonathan had requested CBN Governor Sanusi Lamido Sanusi to resign. (If you missed it, check it here). But this indicates both have mended walls by the look of the photo over, taken a couple of days back at Davos, Switzerland.

$50billion saga: Sanusi defies Jonathan’s order to resign, says only Senate can remove him

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Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi, has told President Goodluck Jonathan that he would not resign on the ground that he allegedly leaked his letter on the unremitted $49.8 billion oil revenue to the Federation Account, THISDAY has reported.
The presidency is accusing Sanusi of leaking the memo he wrote to Mr. Jonathan to former President, Olusegun Obasanjo.

Mr. Jonathan plans to speedily replace the CBN governor

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SaharaReporters has learnt that Nigeria's Central Bank Governor, Sanusi Lamido Sanusi, will have to leave his post in March, 2014, 8 weeks ahead of the formal expiration of his tenure. Two sources at the Presidency and a source at the Central Bank told SaharaReporters that Mr. Sanusi has been ordered to proceed on a post-retirement leave in March. All three sources figured early exit for the CBN henchman was occasioned by Mr. Sanusi's recent leaked letter to President Goodluck Jonathan detailing the theft of near $50 billion in oil proceeds by the Nigerian National Petroleum Corporation (NNPC). A week ago, Mr. Sanusi revised the figure of missing funds down seriously to $12 billion, nevertheless the injury to the Jonathan Presidency is recognized as massive. SaharaReporters learnt that Mr. Jonathan has concluded plans to speedily replace the CBN governor whom the president believes attempted to embarrass his government.

"I Cannot Survive In Nigerian Politics" , Says Sanusi Lamido Sanusi

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Lamido Sanusi has informed HARDtalk he will not be entering politics when he ends his term as governor of the Key Bank of Nigeria.

 “Being a good central banker does not make you a good politician,” he said, adding he had seen enough successful people enter politics only to “destroy everything they have built.”

Asked if he could persuaded to change his mind, Mr Sanusi said:

 “I have been in Abuja long enough to know that I cannot survive for one year in that space.”

 

Sanusi: CBN reduces inflation, targets 6 to 9 per cent

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The Central Bank of Nigeria (CBN) says it wants inflation in a variety between 6-9 per cent, lowering the regulator's previous target of keeping in single-digits.CBN's governor, Lamido Sanusi, told Reuters on Wednesday, he expects it to complete the year below that level...Inflation in Nigeria fell to a new five-year low of 8 per cent in September. Sanusi added that despite lower prices he did not think there was likely to be an interest rate cut in the near future.

We will publish names of banks’ debtors – Lamido Sanusi

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The Governor, Central Bank of Nigeria, Mr. Lamido Sanusi, says those who failed to pay up loans taken from banks will soon be brought to book. He spoke at a forum in Lagos; OYETUNJI ABIOYE was there

What have been your major achievements as the governor of the Central Bank of Nigeria so far?

In the last three years, we have had stability. From January to date, for the first time since 2008, we have had a consistent stretch of inflation at below 10 per cent. Last month, it was 8.2 per cent. By the end of this year, we would be under eight per cent and we will keep inflation in single digit throughout 2014.
Continue after the break.

Impunity, not corruption is Nigeria`s biggest problem – Sanusi

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He noted that corruption was a universal problem, but added that other countries were able to attain development because they had adequate punitive structures in place.

The  theme of the colloquium, organised to mark the 61^st birthday of Tinubu was “Beyond Mergers: A National Movement for Change”.

According to him, corruption is a big issue in the country today as in other parts of the world like Russia, China and others; but why are they eradicating poverty and Nigeria isn’t?

“It is not just corruption. It is the kind of failed interventions that are procured with the proceeds of corruption.

Tambuwal Signs Arrest Warrant For Sanusi, Yakubu, 14 Others

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Following the adoption of a motion moved by chairman, House Committee on Finance, Hon. Abdulmumin Jibrin (PDP, Kano), on matters of urgent public importance, informing the House of failure of revenue collecting agencies to honour their several invitations and provide details of their Internally Generated Revenues (IGR) as part of the 2013 budget revenue frame work, the speaker of the Huse of Representatives, Aminu Waziri Tambuwal, yesterday, signed a warrant of arrest on heads of the affected agencies.

Sanusi Makes U-Turn; Now Calls for Sack of 50% Political Appointees.Do You Agree ?

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The governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi has lashed out on those calling for his sack over his purported statement that the federal government should reduce the work force in the country by 50%. He said he was not talking about the sack of civil servants but a substantial reduction in the size of political appointees who, according to him, take 70 percent of government revenue leaving a mere 30 percent for about 160 million Nigerians.

FG To Sanusi 'We Will Not Sack Workers'

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The Minister of Labour, Chief Chukwuemeka Wogu, yesterday told Nigerian workers not to be worried over the call on the government by the Central Bank of Nigeria (CBN) governor, Sanusi Lamido Sanusi, to cut the nation’s workforce by half to help sustain economy. Sanusi had argued that the country was spending too much money on a negligible percentage of the population to the detriment of the overwhelming majority.

Nigeria will be sufficient in tomato production by 2013 – Sanusi

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Nigeria will be sufficient in the production of tin tomato pastes by 2013 as production of Tomatoes will grow by 1000 per cent in Kano, the Central Bank of Nigeria’s Governor, Lamido Sanusi said.
Speaking at the 2012 forum of Bank Directors Association of Nigeria (BDAN) in Lagos, Sanusi said this feat was achieved from a model developed to revitalised the real sector of the economy and bring farmers into the financial inclusion programme.

Sack Workers To Save Economy, Sanusi Tells Govt •Says 36 States Unsustainable; 774 LGAs Waste Of Public Funds

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Mallam Lamido Sanusi.  Source

GOVERNOR of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has asked the Federal Government to downsize the labour force if it must achieve anything meaningful as far as economic resuscitation is concerned in the country.

Sanusi, who also insisted on total fuel subsidy removal, took a swipe at the Nigerian political system, asking for an inexpensive government system that will bring down overhead cost and liberate capital for infrastructural development. These calls were made during his presentation at the second Annual Capital Market Committee retreat that was held on Tuesday, in Warri, Delta State. To Sanusi, it is illogical for a country to have its economy developed when it spends 70 per cent of its revenue  in servicing salaries and gratuities of workers.

2015: Sanusi faults rotational presidency

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By Taye Obateru, Jos

…Tasks Gowon biography
Governor of the  Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi has disagreed with advocates of a return of power to the Northern part of the country in 2015 saying leadership should no longer be based on ethnic or regional considerations.