Still ON CBN Governor's Impunity-Malam Sanusi Lamido Sanusi Must Stop Now!-Femi Falana

Femi Falana
By Femi Falana

Yesterday, I criticized the illegal donation of N100 million to victims of the Boko Haram menace in Kano by Malam Sanusi Lamido Sanusi, the Governor of the Central Bank of Nigeria. In a misguided defence of the action the Central Bank has stated that it had concluded arrangements to extend similar financial assistance to victims of the bomb attack at St. Theresa Catholic Church in Madalla, Niger State.

 
In a very arrogant manner, the CBN management further stated, “it should be noted that this is not the first time that the Central Bank of Nigeria is assisting victims of disasters. Just recently, we built N500 million bridge that links the two campuses of University of Benin after series of mishaps”. The statement deliberately omitted the fact that the said sum of N500 million was donated to the University of Benin by Malam Sanusi to pay for the honorary doctorate degree conferred on him by the institution last year.
 
In view of the misleading reaction of the CBN management to my criticism it is germane to point out the illegality of the engagement of the CBN in philanthropic activities. The attention of Malam Sanusi should be drawn to Section 2 of the CBN Act, which stipulates that the principal objectives of the Bank shall be to:
 
“a.    ensure monetary and price stability;
b.     issue legal tender currency in Nigeria
c.     maintain external reserves to safeguard the international value of the legal tender currency;
d.     promote a sound financial system in Nigeria; and
e.     act as banker and provide economic and financial advice to the Federal Government.”

 
From the law setting up the Central Bank of Nigeria the diversion of public funds to assist victims of disasters is illegal in every material particular. The management of the Central Bank cannot be allowed to continue to dissipate public funds under the pretext of carrying out any social responsibility outside the ambit of the law. The extension of financial assistance to victims of bomb blast in Niger State has not addressed the impunity of Malam Sanusi in the circumstance.
 
I wish to state, without any fear of contradiction, that the Central Bank has usurped the functions of the National Emergency Management Agency(NEMA) by providing financial assistance to victims of disasters. For the avoidance of doubt section 6 of the NEMA Act has conferred powers on the Agency to:
 
“g.    co-ordinate the activities of all voluntary organizations engaged in emergency relief operations in any part of the Federation;
 
h.               receive financial and technical aid from international organizations and non-governmental agencies for the purpose of disaster management in Nigeria.
 
i.                  Collect emergency relief supply from local and foreign sources and from international and non-governmental agencies.
 
j.      Distribute emergency relief materials to victims of natural or other disasters and assist in the rehabilitation of the victims where necessary.

 
 
From the unambiguous provisions of the Central Bank of Nigeria Act and the NEMA it is crystal clear that Malam Sanusi has usurped the statutory duties of NEMA. By donating hundreds of million of Naira not appropriated by the National Assembly the CBN governor has treated the provisions of Section 81 of the Constitution with disdain.
 
In the light of the foregoing, the CBN Governor, Mallam Sanusi should be sanctioned for his reckless justification of the boko haram menace and diversion of public funds to promote his religious and political ambition. In addition, he should be made to refund public funds that have been illegally donated by him to schools and victims of disasters.
 
 
 
Femi Falana
 
 

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Who are more eduacted in Nigeria ?

The people that pride them selves of being educated or wise like GEJ, Okonjo-iwuala and the so called profs of south east, south-south, south-west and et=al, what educated morons, where are the fathers or Bishops and big fools politicians that parade themselves as lords, what comments, any donations no, Nigeria must remain one, of course those you abuse of not having any paper ticket, but considers that as Boko-harammed, know how to relief they people and fools will be talking about north not beig educated and they have nothing to show from their region, but the so called illiterate north are lordingit over the rest of us and, western values are harammed and and those with such values are more harammed than the Boko-haram members.shameless educated nitwits.

FALANA, STRAIGHT TO THE POINT

FEMI WAS STRAIGHT TO THE POINT ON WHERE THE LAW STANDS BUT THE REST OF YOU ETHNIC BIGOTS RAVEL IN INSULTS.
ONE THING YOU SHOULD KNOW IS THAT THIS ILLEGALITY OCCURS WITH THE APPROVAL OF THE PRESIDENT. TO YOU OUTSIDERS, WHO MAKE TOO MUCH NOISE, SUNUSI IS A BLOODY NORTHERNER. UNFORTUNATELY THE PRESIDENT, NGOZI AND ALL THE OTHER SOUTHERNERS IN GOVT SEE ONLY A FELLOW NIGERIAN, A BROTHER AND FRIEND IN LOOTING WHO KEEPS THEIR SECRETS SECRET!

I keep blaming GEJ, if I were

I keep blaming GEJ, if I were to be your boss, I will wash you, over squeeze and will dry you till you vanish. Full of arrogance, yet i have not seen your achievements, everyday you make blunders. Why didnt you struggle to return the coins that soludo fought for , you came in and started fighting and you have been fighting till date and you have not won. Dollar high, pounds , euro even the poorest country's currency are stronger than ours. You couldnt regulate the black market because your brothers are involved. Honestly, your type should have been left with your little knowledge of economics to sleep peacefully perhaps in your village afterall i hear you are the next emir.

All those forbes award are

All those forbes award are man made and manipulated by the westerners. Who says he is the best. Sanusi, I cannot wait for you to leave CBN, you are not intelligent and I am very certain that there 1001 nigerians out there that can do better than you. You killed the banking industry, forget all these your stories of fraud in the banking sector, you went about all those like someone that came on board to fight perecived enemies. You are a fanatic and lies most times. I will never forget your statement at the town hall meeting where you said that if nigeria leaves subsidy, she will perish, we shall watch who will first perish. If you are interested in politics, why would you use nigerian money to do your father sallah. Why dont you use your salary.

CBN is law unto itself

The lawlessness of CBN under SLS did not start with the donations Falana is complaining about.
When he proposed the AMCON law to the national assembly he said the core objective was to buy toxic risk assets from banks. We all know that SLS is using AMCON to buy equity in banks rather than risk assets. He nationalized banks without a law. Over regulation and As-the-spirit-directs management style means that banking is no longer an attractive enterprise in Nigeria so no new bank has opened shop including the so called Islamic banks. Central Bank chiefs world over are not parrots because their statements have implications for financial services markets.
SLS should restrict himself to CBN Act going forward or resign and enter politics properly.

Sanusi might be doing this

Sanusi might be doing this unwittingly. Hope this funds doesn't get into the hands of terrorists.

It is an after thought that

It is an after thought that Sanusi is now saying that he is thinking of donating to St Theresa Church at Madalla.
OUR HUSBAND IS RUNNING MAD AGAIN. Who will come to come to our aid? IS JONATHAN STILL THERE? WHAT OF MADAM OKONJO IWEALA? wHO WILL CALL THIS MAD MAN TO ORDER? THIS IS ABOVE GOODLUCK EBELE JONATHAN O. SANUSI LAMIDO SANUSI WILL RUIN OUR ECONOMY IF NOT CHECKED.NATIONAL ASSEMBLY SHOULD REMIND HIM OF THE FUNCTION OF CBN. i WILL RATHER RECOMMEND O.A. LAWAL( O LEVEL ECONOMIC TEXT BOOK FOR HIM OR I BRING IT TO YOU PERSONALLY). IS THIS THE WAY YOU PEOPLE WILL SPEND THE OIL SUBSIDY? PLEASE FAWEHINMI, BEKO,TAI SOLARIN WAKE UP FROM YOUR GRAVE TO HELP US DISCIPLINE THIS ETHNIC MAN FROM KANO PUT IN CHARGE OF OUR DIEING NATION'S PULSE. JONATHAN O OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO WAKE UP FROM YOUR SLUMBER PLEASE.

Jonathan and Okonjo-Iweala know about it

Is Sanusi doing this without the knowledge of Jonathan and Okonjo-Iweala? I waill say 'No'. However, they cannot control him because he knows all their secrets e.g. how funds changed hands during the last presidential elections. If they dare speak out, he will expose them. Again, it has to do with the ineptness of governance under Jonathan. Could anyone have done this under OBJ?

Who is falana?

we are talking about a person that won Forbes African man of the year twice, one of the hundred most influential men in the world. a person that saved the Nigeria banks from greedy people. i don't know whether Falana is recognized by his local gov't chairman or any of you 'the critics' out there?wonder where you people are on many of the previous CBN gift, donation, CSR what ever you may call it. why did't you talked then?

Links

A church in madalla was bombed since 25/december/2011 the CBN did not do anything. days later 22 people was shot dead in mubi adamawa state CBN did not say anything. just recently hausa/fulani bombed hausa/fulani state and CBN governor happens to be hausa/fulani gave kano state 100.000.000 million dollars to 1 billion dollars. yes, good ONE NIGERIA who says nigeria will devide. ok, england brought people who never knew each other to share one nation. they took our territory, instead of IGBO-Land it is now call british colony, shpere of influence, nigeria. our land is no longer our land, our land is now call nigeria.

IN SANUSI WE TRUST

He is a true Nigerian an we should let him be.

CHIEF IMAM OF CENTRAL BANK HAS DONE IT AGAIN!

The Chief Imam of the Central Bank of Nigeria has done it again. He is the Director of the intellectual wing of suicide bombing. They have the same mentality. Intellectual suicide bomber!

Naija_man or whatever you called yourself quit your inane claptrap! You are dancing naked in the marketplace.

na real mumus, olodo, sukpo,

na real mumus, olodo, sukpo, agarancha..etc na im dem be...
it is a pity that a whole lot of nigerians have become so myopic and closed minded that sentiments have overriden their common senses (they never had any anyway) else critical understanding and research would be done before people run their mouths.
Islam has always been a religion of peace but people no longer seek information these days for knowledge hence curiosity should have driven them to know what islam is really about...
must an act always be criticised...had soludo done this would he have come under the same attack???
please give us a break...!!

Sanusi ...Ride on...if they say u want to islamize nigeria cos of non interest bank introduced, they need not cry too much afterall they have said a christian bank after a swedish model is coming ....grant them license pls...!!!

Secondly the argument that

Secondly the argument that the CBN is not a corporate organisation is laughable. The CBN is a non-ministerial department of the government with its governance structure similar to most corporate organisations. You have equal number of executive and non-executive board members sitting on the board and it acts like a corporate organisation with not-for-profit objectives.

I repeat quit moaning. It's a shame that our learned Egbon has decided to be this petty what then do we expect from OTIMKPU JOE IGBOKWE. I still expect his press release soon

Who are these ones?

The Principal objectives of the CBN
a. ensure monetary and price stability

Firstly, who told you ensuring monetary and price stability could be done only through the markets? That is the ignorance plaguing loads of people. As economists we see linkages, externalities and spillovers. This things are not quantifiable through the markets and to that extent could be easily ignored. The ACT states the principal objectives,the onus is on the board of the CBN to determine and ensure implementation of policies to meet these objectives. These policies do not have to be solely based on "interest rates" as mot of you would want to think. You cannot do all but you can try in reaching a few within the macroeconomic environment.

.

SANUSI LAMIDO SANUSI IS A LOOSE CANON (3)

The main agenda of the Northern Islamic cabal that installed Sanusi at the CBN is the Islamisation of Nigeria. They know and admire his skill in lying and manipulation.

"Taqiyya" is an Islamic doctrine that endorses and promotes lying
( https://mail.google.com/mail/?ui=2&shva=1#inbox/12d6262e1dd8e3f5 .

He has successfully directed the attention of Nigerians elsewhere while he consistently focusses on his Islamisation agenda. So, when you chech his record you will see audacious acts of impunity like spending efforts in strenthening ties with OIC, D-8 Islamic countries, Association of Islamic Central Banks etc. Never mind that it is now economically strangling the Sharia North.

Sanusi is an old man behaving like a BRAT. SANUSI LAMIDO SANUSI MUST BE STOPPED !!!

SANUSI LAMIDO SANUSI IS A LOOSE CANON (2)

In addition to the investigation by the House itself, a commission of enquiry needs to be set up as a matter of urgency to investigate Sanusi's actions right from the beginning. His lies and deceptions should be exposed and should be made public. In any democracy, this kind of deceit attracts serious punishment. Sanusi should immediately be made to face the music. There should be no further waste of time. Sanusi is a loose canon and now is proving to be Boko Haram's chief ideologist.

In addition to the investigation by the House itself, a commission of enquiry needs to be set up as a matter of urgency to investigate Sanusi's actions right from the beginning. His lies and deceptions should be exposed and should be made public. In any democracy, this kind of deceit attracts serious punishment. Sanusi should immediately be made to face the music. There should be no further waste of time. Sanusi is a loose canon and does not mind causing civil war in Nigeria.

SANUSI LAMIDO SANUSI IS A LOOSE CANON (1)

Femi, has just highlighted a few out of several of Sanusi's acts of impunity, lying and deceit

"THE CBN GOVERNOR MISINFORMED NIGERIANS THAT ANAMBRA STATE GOVERNMENT TOOK A LOAN FROM A NON-INTEREST BANK,"

http://allafrica.com/stories/201107270003.html

http://www.leadership.ng/nga/articles/2737/2011/07/27/reps_deny_endorsin...

The above statement reflects the actions of Sanusi Lamido Sanusi since he assumed office. In order to make his Islamic banking credible, he lied that the main investors are Igbos and that even Anambra state government had taken loan from Islamic bank. With this lie exposed, it is not difficult to imagine that most of the stuff in his presentation to the House are lies as well. Simply put, those things that the house applauded are lies. The House should immediately investigate and prescribe appropriate punishment. I'm sure this "Interview" is not different.

@femifalana

honestly, what is ur beef with sanusi lamido?.

idiots and mumu's

u are idiot,mumu's and oloddos, why cant he give charity to dos people dat d disaster touch dem....ok, ler say "d billions given 2 people in st. Theresa are paid is tootally illegal" pls let be justifyin our selves, or becouse they are christians and kano are muslims?

@Kbmani...

U're just playing sentiments. That has been the bane of progress in Nigeria and until we learn to do away with ethnic, religious, social and every other form of sentiments we wont make any progress as a nation. U don't run a any nation based on such sentiments. the fundamental question here is, is Sanusi donating his personal fund? If not, did the law that set the CBN up permit such actions without due authorisation? Then anything outside this is nothing but lawlessness and in a society that works, this seemingly good thing that he did would land him in jail. Giving to the needy is very good but where it involves statutory institutions, there has to due process.

@naija_man...

If you do the right things the wrong way it all becomes wrong. Some body already asked you if you understand what CSR means. CBN is not a commercial/corporate organisation and CSR is ultimately targeted at achieving public goodwill for corporate organisations something CBN definitely does not need. Falana supported his argument with constitutional provisions but to show how ignorant you're about the issue on ground you have not cited any portion of the law that supports CBN's actions. CBN manages our collective money and as such its spendings must be backed up by law, anything outside of this, is illegal an should be punished, period.

SANUSI MUST BE SACKED FOR ACTS OF SABOTAGE

In a sane clime this islamic lunatic should have been sacked and prosecuted for sponsoring the killer boko haram. How can some people support this madness on ground of corporate social responsibility (CSR): was there any approved budget for CSR in CBN? Are government ministries and parastatals atliberty to dole out tax payers money to their tribes in the name of CSR. People should stop this unlearned and unreasonable ange to support the thieving of Sanusi. NASS is deep neck in corruption and hence cannot raise finger against this arrogant islamic lunatic. GEJ must sack him now as he is one of those sabotaging his government.

let allow peace in nigeria

please let us all peace in nigeria,let try and know the fact before we criticize the governmet

FALANA & OTHER FINALLY WOKE UP

You people just woke up to see the level of Sanusi's act of impunity after he has successfully destroyed the banking industry he is suppose to protect. He dashed out money to his cronies and positioned them to take over other people's businesses under the name of reform. Have you guys ever wondered how the problem of N250billion EDW borrowing have led to N3Trillion reform package? I dey look una, you will all stone him (SLS) at the end of the day.

when did the tennis tornament

when did the tennis tornament start in lagos-cause u said-over a decade-ago-the headquarters of the CBN is now in abuja--what type of social responsibility is that--is CBN now a company or corporate organisation? which has image problem or what with her clients-in kano--when you say social reponsibility its like u dont even understand its meaning--the american reserve bank has none-why should we have one-

did you just say nothing to

did you just say nothing to cry about? does it mean the CBN can go on and be dashing people money just like that? what is the duty of the Fed. Gov't?

pls kindly divorce the issue

pls kindly divorce the issue of social responsibility from matters of constitution.
The cbn governor erred and must so be corrected.
Sanusi cannot take over the duties of NEMA, if he is so interested in emergency relief package, he should step down as cbn governor and use his personal money for charity. Then we all well praise him for kindness towards humanity!

NASS should investigate this allegation

Unless the CBN have a budget which they can spend without approval from the national assembly.I can't imagine Sanusi dipping hand in the federation or consolidated account to dole out money arbitrarily.If Femi is sure he should petition Sanusi to the EFCC or sue him to court, otherwise I have also expected the national assembly to have raised a motion to invite Sanusi to appear before them for explanation.Let us be careful to note that the donation was made to the victims and not to the Kano state govt and we should also note that all the victims are not from Kano state, having said that I also have to add that due process should be adhered to and political implication should have been weighed before making such donation.

Ayaan Hirsi Ali:The Global War on Christians in the Muslim World

From one end of the muslim world to the other, Christians are being murdered for their faith.

Ayaan Hirsi Ali is the Somali lady, formerly a Member of Parliament in Holland, who made a film in the Netherlands with a Dutch who was murdered by immigrant Islamic Extremist. A "fatwa" was also pronounced on her. She no lives in the United States.

OIC is the Islamic Organisation to which Babangida illegally dragged Nigeria in the 80s

Read more and compare with our experience in Nigeria
http://www.thedailybeast.com/newsweek/2012/02/05/ayaan-hirsi-ali-the-glo...

Sanusi's actions are part of this evil trend