Street Journal’s findings have revealed that the days of the Central Bank Governor, Mallam Sanusi Lamido Sanusi as the apex bank’s Chief Executive are indeed numbered. Sanusi Lamido, who many see as a false alarmist has been ordered by the Presidency to proceed on compulsory retirement on or before March 2014 as his tenure as CBN governor will not be renewed.
The order for the Kano born blue blooded CBN Governor to proceed on a forced leave will come months before his term expires in 2014. Mallam Sanusi Lamido had written a fallacious letter to the President, complaining about a missing £50billion, from the funds supposed to be remitted to the Federation accounts by the NNPC. Regrettably after a two-day reconciliation with NNPC, FIRS, DPR and CBN, Mallam Sanusi apologized to Nigerians that he got his figures wrong and blamed his staff for providing him with wrong data.
He concluded that $12billion was the new difference, while the team saw a difference of N10billion. After about 3 more days of reconciliation, the CBN announced that the N10billion was actually remitted to CBN months before Sansui’s false alarm, under a separate heading by FIRS and DPR (Department of Petroleum Resources).
Sanusi’s tenure has been marred with controversies, especially his inability to reconcile the accounts of CBN or making accounts of CBN available to Nigerians or lawmakers. He was using the bank’s funds for personal donations to unapproved causes. About two years ago, he got himself entangled in controversy when he alleged that the National Assembly accounted for one quarter of the nation’s annual budget. Sanusi was to later apologize after a grueling time of grilling by the legislators.
Apart from the alarmist image cast on Sanusi in some places, some others see him as a radicalized hardliner who lacks vision, direction and destination. Many wonder whether the CBN Governor articulates his thoughts before voicing them out. At a point, he described the all Micro Finance banks in the country as insolvent.
Nigerians were also stunned by the CBN Governor’s donations to friends and institutions. He announced a donation of N 10 billion to the Ahmadu Bello University, Zaria. Other institutions that benefitted from Sanusi’s “strange” donations included the University of Benin which got N 5 billion and Lisabi Secondary School, Abeoukuta which got N 500 million. Incidentally, the secondary school happened to be the Alma Mater of Tunde Lemo, Sanusi’s Deputy.