Minority whip of the House, Hon Samson Osagie (APC, Edo) had brought the suspension matter before the members during plenary under Matters of Urgent National Interest where he described the suspension as “illegal” and “unconstitutional.” Citing CBN Act 2007 as amended, the lawmaker queried the power of the president to take such a decision as the law does not provide for the president or any body to suspend the governor of the CBN.
“Only Section 11(7) of thenAct gives the President powers to remove the CBN governor subject to the approval of two-third majority of the Senate”, he noted.
Osagie called attention of his colleagues to the timing of the suspension which according to him, ” was coming at a time when the CBN Governor has made allegations of missing funds or funds unremitted into the federation Accounts which allegations has not been resolved”, even as he was not given the opportunity of a fair hearing. Going further, he faulted the reason upon which the suspension was premised, saying it is questionable that the objection of the House to his donations from the CBN coffers would be isolated for action in this case while others lie untouched.
“The National,Assembly has made numerous resolutions bordering on corruption against certain public officers for which the president has refused to act”, he said. Speaking on the adverse effect of the suspension Osagie noted that “uncertainty has already crept into the stock market with the dollar immediately appreciating against the naira and market stakeholders worried about the action. “In a democracy, the rule of law and notbthenrule of man is the only condition that can guarantee freedom and protect the rights of the citizen,” he said.
This submission was however rejected by the deputy majority leader of the House, Hon Leo Ogor ( PDP-Delta) who said the president had not gone beyond his power to suspend Sanusi as his action is part of a process that would eventually lead to the removal as stipulated in the CBN Act.
His debate was supported by another member, Hon Ralph Igbokwe ( PDP-Imo) who explained further that section 11 of the CBN Act empowered Jonathan to suspend Sanusi. However, another member, Hon. Nkoyo Toyo ( PDP-Cross River) called for caution, saying the House should not politicise the issue but deal with it objectively.
Meanwhile, the minority leader of the House, Hon Femi Gbajabiamila expressed dismay at the suspension and queried the legality of the action which he said is an attack on CBN’s autonomy as well as a setback for the fight on corruption.
“I am concerned about its legality. Whilst it can be argued that an employer has the right to suspend an employee, the question here is whether this is a suspension or a removal in the guise of suspension”, he said in a press statement. “For good reason the CBN Governor world over is independent and autonomous.
To remove him you need confirmation and buy-in of the Senate. You cannot do it through the back door. If you read carefully the reasons advanced by the Presidency then it becomes clear that this is a removal and not a suspension and therefore illegal and unconstitutional.”
“It becomes more worrisome when you consider the timing and the fact that the CBN Governor has just blown the lid off a monumental scandal involving the disappearance of 20billion dollars from our coffers. The message being sent out is not the best . There can be no worse attack on the autonomy of the apex financial institution as envisaged by the constitution.
For God’s sake the man only has 3 months left!” Another lawmaker, Hon. Pally Iriase (Edo/APC) challenged President Jonathan to disclose allegations of “various acts of financial recklessness and misconduct,” he gave as reason for Sanusi’s suspension. Iriase said the suspension which he described as “hasty” could dent foreign investor confidence in the country’s economy.
“We have been talking about impunity. This (Sanusi’s suspention) is yet another show of impunity by this administration. The suspension is personal and is not unconnected with the recent disclosure of missing money from the NNPC.
“It is a clear case of if you cannot shut him up, ship him out. It should be condemned in its totality.” Iriase said. The lawmaker debunked insinuation that Sanusi had been doing the bidding of the APC by “embarrassing the government” with disclosure of missing oil revenue.
“If the bidding of APC is to have a robust economy, a responsible government that is corruption free, then Nigerians should be happy. Sanusi’s suspension is simply a case of the administration shooting itself on the foot.” he stated. leadership
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