One of the more annoying things about Nigeria is that our thieves are bad thieves. Conventionally, thieves operate at the night, out of respect for the homeowner and law-enforcement agencies. Not in Nigeria: thieves operate here in broad daylight in absolute contempt of everybody.
In Nigeria, thieves know they will not be caught. They know if they are caught, they will not be tried. They know if they are tried, they will not go to jail. Therefore, there is a culture of impunity in Nigeria which makes the country a holiday-resort for thieves and robbers.
Jail or dismissal?
Nothing speaks more eloquently about this culture of impunity than the CBN under Lamido Sanusi. Sanusi’s posture as CBN Governor is an insult to Nigerians. He ran the place as a personal estate. He flouted every financial regulation.
He gave away government money in a flagrant manner that would give pause to even billionaire Mike Adenuga. And then when he knew the game was up, he decided to blow the lid on NNPC financial indiscretions, in order to distract attention and attract public support and sympathy. Nigerians should not fall for this “mago-mago.” Lamido Sanusi should not only be sacked, he should be tried and, if convicted, should be jailed.
The government has called Sanusi’s bluff. In a sleight of hand, he has been summarily dismissed from office under the guise of suspension. This has created some brouhaha because the President needs Senate approval for the dismissal of a CBN Governor. But the president has found a way round that impediment. Sanusi has been suspended; he has not been fired. Surely, the president has the power to suspend a public employee for questionable conduct, pending the confirmation of his wrongdoing. If the allegations against him are found to be without substance, he can then return to his post.
However, since Sanusi’s term will soon expire, the president has gone right along to nominate his replacement. It is all politics, and not just Nigerian-style. Separation of powers is a judicious principle of federalist government, but there is something anomalous about a CBN governor transforming himself overnight into an opposition politician spokesman. There is also something unacceptable about the arrogance of Sanusi which makes him feel he is an untouchable. Under the circumstances, his suspension/dismissal from office is not surprising. Indeed, it is all the more imperative given the financial improprieties that have characterised his tenure in office.
Distorted timeline
The major sticking point with Sanusi’s “dismissal” is the widespread assumption that it is payback for him blowing the whistle about the whopping $20 billion missing from NNPC accounts. However, there is every probability that the opposite is what happened. The government was the first to query Sanusi about his financial improprieties. When he could not explain them, Sanusi went on the offensive by making public statements about missing monies at NNPC. This would explain why his allegations tuned out to be shambolic.
The last thing a country needs is a CBN governor who talks frivolously. The word of a CBN governor has implications for financial market volatility; therefore he must mark his words. He must speak with confidence and precision. Not so with Lamido Sanusi. Sanusi went public and made a monkey of his credibility. First, he said $49 billion was missing from NNPC accounts. Then he said it was $10 billion; and then it was $20 billion. What will it be tomorrow? How come Sanusi did not determine precisely the amount before broadcasting it to the world? It would appear that Sanusi’s reckless disclosures came out of the need for him to cover his tracks at the CBN. Knowing that the book would soon be thrown at him, he decided to lay the grounds for saying he was being accused of financial improprieties because he exposed those of others.
This is not to deny that there are, in all probability, huge financial improprieties hidden in NNPC accounts. However, the very fact that a CBN governor decided to go public with them is highly suspect. A CBN governor does not make such public disclosures as CBN governor. He resigns first. It is even more suspect given the fact that the very person who would have us believe he is taking the moral high ground with these disclosures is the same person we have now learnt has run the accounts of the CBN like a bull in a china shop. Sanusi is anything but a foolish man. He surely knows that those who live in glass houses don’t throw stones.
Sanusi knew something was up. Therefore, he decided to go on the offensive. What he has done is to curry favour the Nigerian public by raising alarm about missing monies, even when he did not have the full facts, in order to preempt the disclosures about his own financial improprieties.
This strategy has succeeded in part. Sanusi has immediately become the darling of the opposition APC party. Muhammadu Buhari, the self-styled apostle of anti-corruption, has come out in his staunch defense, giving us a taste of the kind of anti-corruption his APC has in mind. There is a déjà vu to this. It is the kind of hypocritical anti-corruption where the airports and seaports of Nigeria can be closed to everyone, but the Emir of Gwandu can bring in 53 suitcases under the escort of the aide-de-camp of the Head of State.
Financial atrocities
The financial atrocities in the CBN under Sanusi are simply outrageous. If this is how government agencies steal and mismanage public funds, then Nigeria is in more trouble than we have ever imagined. CBN accounts under Sanusi read like pure fiction. While crying foul about missing money in NNPC, Sanusi failed to account for missing monies in CBN. Investigating the CBN in April 2013, the Financial Reporting Council of Nigeria (FRC) discovered that ?38.23 billion was missing. The money was said to have been paid to MINT- a subsidiary of the CBN. However, MINT accounts showed no such money was received.
It is only in Nigeria that you can have a Central Bank governor spend government money anyhow at his own discretion. Sanusi did not just spend a few thousand naira whimsically. He did not just give away millions of naira like Aliko Dangote. He gave away billions. The government reveals that Sanusi gave away nothing less than ?163 billion in no less than 63 “intervention projects” in different parts of the country. Remember this: that is more than the entire 2014 budget of Edo State.
Just listen to this: the CBN is said to have paid ?38 billion to the Nigerian Security Printing and Minting Company (NSPMC) in 2011 for printing banknotes. However this is in excess of the total turnover of NSPMC that same year, which was only ?29 billion. The CBN claims to have paid Emirate Airline ?511 million for currency distribution nationwide in 2011 when the airline does not have a local charter service in Nigeria. It reports ?425 million was paid to Wing Airline, but the airline is not even registered in Nigeria. It also claims to have paid Associated Airline ?1 billion for the same purpose, but the airline did not have up to a billion-naira turnover in 2011.
In its 2011 account under “sundries” (i.e. unexplained expenses), Sanusi’s CBN reported an expenditure of ?1.1 billion. For legal and professional fees that same year, it claimed to have spent an amazing ?20 billion. This is simply mind-boggling. So mind-boggling in fact that naïve people like me don’t believe a word of it. These are just crooked details designed to mask the massive corruption and graft under Sanusi’s watch.
In 2012, ?1.2 billion was listed as expenses on “private guards” and “lunch for policemen.” Wow! These policemen must have been having caviar for lunch. Similarly, ?1.6 billion was spent on newspapers, books and periodicals alone that same year. Pull another leg. Who believes this kind of rigmarole?
Still in 2012, ?3 billion was spent on “promotional activities.” Pray, to whom was the CBN doing this promotion? Where did these promotional activities take place and to what purpose? Was it in Nigeria or in outer space? Which bank was CBN in competition with? Was it the World Bank or the African Development Bank? Was the CBN trying to attract depositors or customers? Or was it paying legislators so that its powers would not be curtailed?
Nobody should condone Sanusi’s financial recklessness. He also played Father Christmas with Nigeria’s money. According to the government, Sanusi’s CBN wrote-off loans to the tune of ?40 billion. Without board or presidential approval, Sanusi spent ?743 million of CBN money acquiring 7 percent shares of the International Islamic Management Corporation of Malaysia, contrary to the provisions of the CBN Act.
Off to Kirikiri
It is a big indictment of the Jonathan administration that this impunity was tolerated for this long and was only addressed after Sanusi became a political embarrassment to the government. The billion-naira question now is what is going to happen to Sanusi. Will he get away with these corrupt practices or will he be prosecuted to the full extent of the law? My position is that we need to chart a new course in the treatment of corruption in Nigeria. If Sanusi is truly guilty of these improprieties, he should be sent to jail; for a very long time.
However, the bet is on that nothing will happen to him beyond his dismissal from office. It appears nothing is also going to happen to Deziani Allison-Madueke, the Minister of Petroleum. The missing $20 billion at NNPC will also be swept under the carpet. All the signs of a cover-up are already apparent. The FRC indicted all the Deputy Governors of the CBN along with the Governor and asked that they all be sacked. However, not only were they not sacked, one of them has been made the new Acting Governor. In all likelihood, this culture of impunity will remain for the simple reason that it seems to go all the way to the very highest echelons of the Nigerian government. Click to signup for FREE news updates, latest information and hottest gists everyday
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Wawa;Mumu Arubisola.
ReplyDeleteMR Aribisala, That's why we can never ever rely on ur man, a man with no shoes!! He's only a servant(pardon me) not a president! Cz he serving his masters who paid for those newly acquired shoes!! Therefore he cannot or does not have the power or mUscle to jail anybody especially those that has ties with his masters so I guess corruption is here to stay for now!!
ReplyDeleteI am not surprised at this write up. It is your usual self expression and I like your last paragraph this time around. How can any manager of 170million people and their resources wait for this long to take action with all these atrocities you mentioned? Why should it take that long for this same president to take action on Stella Oduah? What happened to the case of the man, Farouk, who is still making laws for Nigeria? Steve Oronsaye was even touted as this presidents chief of staff with the billions of the poor people's pension fund, which under him was mis-managed, missapropriated, or stolen outrightly? In another breath, you will write that the same shenanigans should continue in 2015 and beyond. APC may not be the solution to it although your best friend, Buhari, a very honest man may be their flag bearer, who are those that will work with him? We have big challenges in Nigeria, how do we tackle them? You know that $20b dollars is gone for ever, you know that Deizani will remain the minister beyond 2015. How do we free ourselves from GEJ, Sanusi, Farouk etc? This is what will make meaning to us all because we all know the challenges you highlight every now and then. Solution please.
ReplyDeleteAribisola U are talking nonsense where were U when soludo made similar donotions.
ReplyDeleteWhat of if Soludo followed due process?
DeleteFind out , friend!
Fellow Nigerians, there can't be any solution as long as pple like Mr Aribisala exists in this country, they belong to the class that says the crown fits today and later proclaims that the crown does not fit( double mouthed fools) with these set of pple we can never grow as a nation and these is the type of pple we have mostly in this part of the world and that's the more reason everything continues to collapse.
ReplyDeleteMr Femi, just hear or listen to urself, u were the one that came out previously praising GEJ regime, saying PDP should rule beyond 2015 that GEJ is better, he's Nigeria Goodluck etc, those articles and your previous write up are there for perusal now here u are, saying in summary, that GEJ lacks the zeal to fight corruption. I want to know why will u wnt us to vote for a person with this kind of character to be our next president in your previous article? Do you want us to suffer this same ineptitude for the next four years again? Mr, there are youths looking up to you, is this the way u planned to lead us? by contradicting urself!! Anyway I hope the youths will be wise this time around.
Solutions pls!!!!! Is this how things will contnue?
ReplyDeleted solution is revolution!
ReplyDeleteTo the "Anonymous" that accuses Aribisala of praising GEJ but turns back accusing now.
ReplyDelete"There is neither permanent friend, nor permanent enemy".
You can only blame Aribisala if he continues praising GEJ now that we have seen him protecting looters and thieves.
It is only the Great God that is perfect. Don't ever give any human being free hands and go to bed without keeping watch.
For me, I come to know that Mr. Sanusi also has questions to answer before FG and Nigerians through Aribisala's article.
So, we are not fool. Whoever does well must be recognised. And when the same person turns to devil, we stop the praise but warning.
Let us all follow our religious teaches and pray for better Nigeria for generation to come.
All these will help us watch out for choosing our leaders in 2015.
But anybody that collect money to vote for crooks does so for more hardship for the country.
In pray Almighty God protects Nigeria.
Mr.Aribisala, you got it all wrong this time in your bashing of the cbn governor.
ReplyDeleteIn your intro you alluded to the fact that nigerian political thieves steal because they know they can not be jailed even if they are caught.
But you were a bit conservative with the truth. The untold truth is that no political theif steals in this country without the backing of the government at the center i.e. Aso rock's backing.
We only get to hear of the offence of political office holders only when the politicians have fallen out of favour with the government at the center.
This speaks volume about the government at the center.
But let us assume that the governor is as guilty as painted by the presidency, the question the presidency needs to answer is “why did the presidency not approach the house with the bundle of evidence and demand for his ouright removal.
The reason is that the allegation lacks merit.
Did this man know what is saying? That sanusi should first resign before blowing the lip? Was he writing for writing sake or for enlightenment or to seek for "favour"
ReplyDeletePeople like aribasala supposed to known better and stop been biased, did we need to be reminded that whatever happen to a ruling party is an opportunity for opposition to propagate?(as if it's only happen here) then why must he mention APC/Buhari or any opposition leaders in every articles he wrote? If he is not comfortable to be opposed then he should pack and go to Zimbabwe because, either good or bad their must be a critics (constructive or destructive) to keep you on your toes and by the way, we are not in a one party state.
Aribisala is obviously seeking for political office. Another Abati in waiting.
DeleteI think the allegations against Sanusi are serious allegations. Let us not trivialize them because we may not appreciate previous contributions by the author. If we do, we will just be going round in cycles while evil men have a field day
ReplyDeleteDull man, stupid and clueless write up! Don't you insult Nigerians any further, we are getting wiser by the day and the day of reckoning is by the corner! FOOLS!
ReplyDeleteHow do we confirm all these figures quoted by Aribisala? If they are confirmed to be true, then Mallam Sanusi surely have a case to answer. He should give an explanation to Nigerians on how all these funds were spent
ReplyDeleteIn a mis-undastanding, d two parties are usually at fault. GEJ is guilty of not informing d public earlier or acting earlier to stop or reduce sanusi's excesses while sanusi is guilty of stealing public fund. We should stop being bias about dis. We can't say we are wiser now wen our level of thinking n comment says otherwise. N pls note ALL politician are thieves so stop thinking some are saint. We need paryers n revolution in nigeria. This recycled politicans must go n allow fresh ideas to rule.
ReplyDeleteAribisala pls take several seats behind a run down stadium. Are you saying the government knew all these and waited till Sanusi blew the whistle on the missing 20 billion before coming out with all these silly allegations. If Sanusi should be sent to kirikiri then Deziani and GEJ should be hanged. Enough of these crap. Nigeria is a joke already. When death sentence await corrupt officers, Nigeria will be a better place. But it wont happen with these jokers and looters in government.
ReplyDeletenigerian eye make una take una tym o,if i ryt comments do every tin una no wan publish d comments.
ReplyDeletena ur papa nd ur mama then go put 4 kirikiri idiot nd stupid.
ReplyDeleteIf not 4 God what shall we be saying. This is Nigeria 4 u. If there was no fallout betwn Sanusi and GEJ no one will know anythn about their looting of Nigeria's wealth. God will continue to expose all of them.
ReplyDeleteSanusi should have performed better as a Hollywood or Nollywood star than a CBN Governor.I have researched into the activities of CB governors in different country but I have not come across where a CB governors behaves like he is above the law and there is no immunity for CBN governor as Sanusi would want us to believe. Now that he has been suspended he will have enough time to attend APC and Kano Emirate Council Meetings.He can even vie for he Presidential ticket under APC and Let Amaechi be his running mate.
ReplyDeleteall this money they are calling, if its were to be shared among the public, even a day new born baby will be a millionaire, while not the president and his colloquies give the public their own money in there hands and eat what ever billons they want to eat so that every body will be okay and happy.
ReplyDeleteAnybody that knows Dr. Reuben Abati should please tell him that someone is keenly interested in his job. Anyway, that was how Abati got his job, so if Aribisala is also employing the same trick. No qualms.
ReplyDeleteNigeria my country!
Mr Femi, are you aware that the account of NNPC had not been audited since 2005?
Are you aware that Sanusi was suspended over financial recklessness that was as a result of 2012 audited statements?
Curiously, 2012 account is having k-leg yet the President had received without question the 2013 audited account of the CBN.
All the facts you presented here were lifted from Abati's statements.
Go back and do your research.
For a second, I ain't holding brief for Sanusi. To say the least, I am disappointed in him.
But if Sanusi is going to Kirikiri, where are you sending GEJ? Hell fire, I guess.
Why did GEJ wait till the allegation before he acted?
I knew Sanusi was culpable when I watched him fidgeting when he was changing S46 billion to S10 billion and I knew he had skeletons in his cupboard.
But in all honesty, there are more worse scenarios that that of Sanusi in Nigeria today.
They are still saints today but tomorrow will come.
Mr Femi tell us what we don't know
Mr. Aribisala! You are not only shameless but clearly bare faced liar and an unbalanced, one sided, commentator with no stomach for any inkling of fairness or the need to search for and seek the truth. While not holding brief for Mr. Lamido Sanusi, but it common knowledge that all the crimes for which he is currently being crucified hinge on intervention expenditure efforts of the CBN over which he presided. The loud questions that agitate the mind are of, of course, the fact that past CBN Governors have embarked upon similar activities in the past without any queries being raised. That apart does it not stand to reason to question the standards that condones the likes of Mrs Allison Maduekwe and Odua ostensibly in the spirit of fair hearing and due process while summarily dealing with the Sanusi case with no allusion to same standards? Furthermore, since legality or otherwise is the fulcrum of action shouldn't it, as a matter of necessity, be established first that a contravention of the approved budget of CBN has occurred? Shouldn't it be necessary for the President to request Mr. Sanusi to first defend himself? As a matter of fact, if the intention is to correct and not to settle one score or the other, the President and, indeed, all other such commentators like Aribisala should be interested to know if there is any fiduciary interests that may have guided the actions of Mr. Sanusi in all the expenditures in question. Unlike the cases of Allison Maduekwe and Stella Odua which are patently self serving expenditure issues the intervention expenditures of the CBN are not only in the public interest but support the educational institutions of the nation spread across Nigeria without any preferential treatments. Mr. Aribisala you should and must bury your head in shame, if indeed, you have any for your obvious derogation from normal investigative tenets of the practice of journalism.
ReplyDeleteThank you Femi for this enlightenment.More facts may emerge soonest mostly on BH
ReplyDelete