President Goodluck Ebele Jonathan has yesterday in a presidential media chat said that the suspended CBN Governor, Lamido Sanusi, remains the boss of the apex bank pending the outcome of investigations by the Financial Reporting Council (FRC) and the Bank’s Board. The President who spoke during a media chat, which was broadcast, live nationwide, explained that there is a gulf of difference between the suspension of Sanusi and outright removal of a CBN governor. Quoting copiously from the constitution, the President was emphatic that he has oversight function on some activities of the CBN and has such, has full powers to suspend the CBN governor. He further explained that Sanusi was suspended based on the FRC report ,saying that the suspended CBN governor has not been convicted. SEE MORE AFTER CUT>>>>>
“No timing is right for the suspension of anybody but Nigerians must know that the right thing must be done no matter whose ox is gored,” he said
He said it took the government so long to act on the report because it has to do with the nation’s monetary policy, adding, “ but now we are assuring the investing community that a transition is in place and that will not affect the monetary policy.”
The president denied the suspension of Sanusi has links with his allegation of missing $20billion from the Nigeria National Petroleum Corporation (NNPC) .
“ No president will allow such amount of money to disappear. Even if it is one dollar we will find out, but we must follow due process and the rule of law. No one is covering up anybody”, Jonathan stated.
On whether the government will prosecute Sanusi , the President was categorical that an investigation was still beign conducted , pleading that Nigerians should allow the FRC do its work. Jonathan will not rule out the possibility of an amendment to the CBN Act but that “ If what we have is what is obtainable in other countries then we will wait but we will definitely look into the act but still there are aspects of the banks functions that must remain autonomous.” The president also explained that there was never a Presidential order stopping subsidy on kerosene. He explained that the processes for such removal are very clear and that include publications in national dailies. The President assured that the government was working hard to overcome the Boko Haram menace. “We will get over it,” he assured. But the president took a swipe on the comment against the ability of the army made by Borno State Governor, Kashim Shettima, saying it was unfortunate. “ If we pull out the military for just one month, he will not be able to stay in the Government House.”, Jonathan said.