The former Governor of Kwara State, and Chairman, Senate Committee on Ecology and Environment, Dr. Bukola Saraki has said that the suspension of the Governor of the Central Bank of Nigeria (CBN), Mallam Lamido Sanusi by President Goodluck Jonathan was unconstitutional.
The immediate past Governor of Kwara State, who stated this while speaking with Journalists in Ilorin, opined, that President Jonathan, was ill-advised on the suspension of the Apex Bank Governor.
He noted that, the Act that established the Apex Bank made it mandatory for the President to revert to the Senate for confirmation and removal of the CBN governor.
“Governance is a continuous process, if the tenure of the incumbent had not lapsed, how can we appoint another person to replace him? That is a total breach of the law.
“With my knowledge of the CBN Act, and the relevant section, which I have gone through, no part of that Act supports the action taken by the President.
“And I think this kind of thing is not about Sanusi, it is even more about the new governor, who is coming in. Can that governor really say his tenure is five years?”
Saraki, expressed disappointed over the development saying it would have negative effects on the independence and autonomy of the CBN as, “The independence of the position of the governor of Central Bank is no longer there and there are investors outside the country, fund managers that will have about N20bn invested in this country who took those decisions based on the fact that the CBN is independent”.