The council, in its June 7, 2013 recommendations to President Jonathan had accused Sanusi of “a clear display of incompetence, nonchalance, fraud, wastefulness, and abuse of due process and deliberate efforts to misrepresent facts.”
It asked the President to exercise the powers conferred on him by Section 11(2) (f) of the CBN Act 2007 or invoke Section 11(2) (c) of the said Act “and cause the governor and the deputy governors to cease from holding office in the apex bank.”
But defending his actions while in office, Sanusi said that contrary to the position of the Council, he never acted beyond his powers.
The alleged infractions listed against Sanusi include “persistent refusal and/or negligence to comply with the Public Procurement Act in the procurement practices of the Central Bank of Nigeria” and “Unlawful expenditure by the Central Bank of Nigeria on ‘Intervention Projects’ across the country.”
His leadership, for instance ,was said to have “refused and/or neglected to comply with the provisions of the Public Procurement Act (PPA);” “engaged in procurement of goods, works and services worth billions of naira each year without complying with the express provisions of the PPA;” and financial recklessness “ typified by the execution of ‘Intervention Projects’ across the country.
From available information, the bank has either executed or is currently executing about 63 such projects across the country and has committed over N163billion on them.”
Sanusi, while speaking on Channels Television, dismissed the Council report as being out of order.
He said that not only did the council fail to follow due process, the standard used in arriving at its conclusions on him are questionable.
He said, “just a little over a week ago, the Petroleum Minister and the GMD of NNPC, sat in front of the Senate on national television and actually said they have paid billions of dollars on subsidy of kerosene without appropriation” without regard for a Presidential directive to stop the payment since 2009.
He wondered why “no one has called this financial recklessness.”
He added,“ The NNPC itself has not been audited since 2005…They are now rushing to get all those back audits.”
On the allegation that he got involved in intervention projects, he said: “is there is any problem in investing in education; building structures in universities; building structures in secondary schools? Is there evidence that these contracts were inflated or we awarded the contract to ourselves? What exactly is reckless about contributing to education?”
He insisted that the CBN is an independent institution whose governor cannot be removed by the President without the consent of two thirds of the Senate.
“You cannot go round that section. It undermines the entire principle,” he stressed. Click to signup for FREE news updates, latest information and hottest gists everyday
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You should feel a bit of the bitter pill u served some banks after investigating a few of them. You are leaving as the worst cbn governor ever. You will go to jail for corrupt practices. Shame on you Mallam Sanusi
ReplyDeleteIdiots! Go jail him, even mumu at ABuja cant try it
DeleteSanusi u better close ur mouth, how can a CBN embark on charity and projects which is supose to be done by Government? How sure are we that the money wil nt end up in ur pocket? Can u Imaging commiting N163b for project. CBN are not suppose to embark on projects!
ReplyDeletePls don't say what you Are ignorant of . Kindly ask what you don't before open your dirty mouth
DeleteTo the best of my knowledge, and I stand to be corrected, every corporate body has the right to embark on what is called Corporate Social Responsibility Projects. The question is, in the CBN Act that makes the CBN an autonomous body, is there any provision that says the CBN cannot do this? If this is no provision that says this, then the man is within his right as the CEO of the CBN to do this. What remain to investigate is whether he inflated the contracts or awarded them to his relatives or cronies. As long as there is no fraud in the award of the contracts, then he has not commited any offence. That the award of the contracts contradicts the Public Procurement Act is another question entirely. Does the Act put the CBN, an independent and autonomous body, though still under the Ministry of Finance, under its control? What is the position of the law on this? This must be ascertained. If the CBN does not have to get the approval of the Public Procurement Bureau before it awards a contract, then Sanusi was within his rights.
DeleteBoko Haram ATM machine is shot down now, that is why they so voilent these days
ReplyDeleteSo true o!No wonder!!!!!!But dy av failed already.
DeleteAnd Goodluck ebele Jonathan is who to Corruption, asari dokubo, Nigeria Democracy, Ijaw people, Niger/deltans??? To mention few. set of badlucks
DeleteAnon 7.58; if only u knw how close u r to d truth.
ReplyDelete