The Speaker of the House of
Representatives, Aminu Tambuwal, said on Sunday that the suspension of
Mallam Lamido Sanusi as the governor of the Central Bank of Nigeria
could hurt the nation’s economy.
Tambuwal, who visited former President
Chief Olusegun Obasanjo in Abeokuta, Ogun State, said the action by
President Goodluck Jonathan was capable of sending “wrong signals” to
international investors about Nigeria’s financial institutions.
Explaining that he was at the Hilltop
residence of the former President to consult him on some key issues
of “national interest,” the speaker stated that foreign businessmen
must have confidence in a nation’s financial system before they could
invest their funds.
He said, “Well whether (Sanusi’s
suspension) is lawful, legal or illegal, the personality involved has
told everybody that he is going to court and I believe that he is
already in court on that suspension.
“On the implications for the economy;
I’m not an economist but I personally feel that it will definitely send
wrong signals to investors. This is because you need to have confidence
in the financial institutions, particularly the independence of the
financial institutions of a country, before investors will consider
such a country worthy of their investments.
“So, I have my concern about that.”
Tambuwal, who maintained that he was
still a card-carrying member of the ruling Peoples Democratic Party,
dismissed speculations that he was planning to leave the party for the
All Progressives Congress or any other party.
He said, “I am visiting the national leader of the PDP. Baba(Obasanjo) and myself are in the PDP. Baba is
a leader not only in Nigeria but in Africa and it is only appropriate
for those of us in the positions of authority and leadership to
occasionally come and consult him on matters of national interest
and that is what we are here for today(Sunday).
“There are lots of issues in Nigeria
today. Of course, there is the issue of Petroleum Industry Bill that
we are considering in the House. We are doing constitution amendment
and a host of other very key and important legislation before the
parliament.
“So, we needed to consult our leaders on
such very important and vital legislation before we conclude what we
are doing on them. The Electoral Act is likely to be amended too. So,
from his wealth of experience, we need some input from him(Obasanjo).”
Tambuwal was accompanied on the visit
by the Deputy Minority Leader of the House, Kawu Sumaila; Ajibola
Muraina and Aminu Shagari.
Also on Sunday, the Serving Overseer of
The Latter Rain Assembly, Lagos, Pastor Tunde Bakare, said that the
suspension of Sansusi would have negative implications for the
nation.
Bakare described Jonathan’s action against the CBN governor as ego-driven and a destructive power game.
He said in a prepared speech, which he
delivered during the Sunday service, that Sanusi was being persecuted
for exposing corruption in the oil industry.
The cleric warned that Sanusi’s
suspension could have negative consequences for the investing
public and the nation’s revenue.
He said, “The suspension of Sanusi is
an ego-driven, counter-productive and destructive power game that will
have very dangerous consequences for the nation and the government,
“It is important not to demystify the
institutions of the country. Personalities and people will go but the
institutions will remain; the institutions must remain strong to
enhance the growth and peace of the society.
“You can imagine the negative
consequences of this suspension on the investing public, on shares and
even on government revenue.”
Bakare whose speech was titled
‘Sanusi Lamido Sanusi and the Federal Government of Nigeria: Aitete
m’ole, ole m’oloko,’ said the CBN boss became a victim because he
delayed blowing the whistle about the corruption in the oil industry.
He explained that Aitete m’ole, ole m’oloko,
means “that when the owner of the farm fails to apprehend the thief in
time, the thief will apprehend the owner and label him the thief.”
The clergyman recalled that Sanusi’s
travails started on September 25, 2013, when he wrote Jonathan
accusing the Nigerian National Petroleum Corporation of failing to
repatriate $49.8bn (about N8tn) into the Federation Account between
January 2012 and July 2013.
Bakare added, “The opportune time to
blow the whistle should have been “when the CBN, the Ministry of
Finance, the Ministry of Petroleum Resources, the PPPRA, the NNPC and
other agencies provided conflicting figures as to actual subsidy
payments to the Ad hoc Committee on the management of fuel subsidy”.
According to him, the NNPC had been
spared of any indictment in all the three reports “from the 2011 KPMG
report to the 2012 Farouk Lawan Committee Report and from the 2012 Nuhu
Ribadu Committee Report to the 2013 Nigerian Extractive Industries
Transparency Initiative report.
“When the Save Nigeria Group raised the
bar during the fuel subsidy protests and maintained that
government-backed corruption fuelled by the NNPC was the main issue,
perhaps a corroborating voice by the CBN governor would have added
weight to the outcry.”
The cleric commended Sanusi for
speaking up against corruption and urged him to take solace in the words
of William Bryant, who once said that “Truth crushed to earth, shall
rise again.”
“Make no mistake about it, few men have the courage of Sanusi,” he said.
Also in Port Harcourt, the Rivers State
Governor and Chairman of the Nigerian Governors’ Forum, Mr. Rotimi
Amaechi, condemned Sanusi’s suspension, saying Jonathan took the
action because he felt that nobody would challenge him.
The governor spoke during a Sunday
service and reception for the assistant resident ministers by
the Christ Church in the city.
Amaechi urged religious leaders to always hold government accountable and champion the fight against corruption.
He said, “You can imagine how President
Jonathan announced the sudden removal (suspension) of the CBN
governor. He does not have such powers. He knows that nothing will
happen and that was why he took that action.
“So, I think the preachers should begin
to preach what we call the liberation theology. You (church leaders)
are supposed to have more responsibilities to hold government
accountable.
“The issue of the missing $49.8bn from
the Federation Account is still there. If you convert that money to
naira, you will get N8tn and that money can solve the problem of this
country for the next few years.