Nigerian Laws Facilitate Money Laundering – Sanusi

cbn-governor-lamido-sanusi-360x225Governor of the Central Bank of Nigeria, CBN, Malam Lamido Sanusi has stated that there is nowhere it is written that as head of the apex bank he cannot disagree with the president, stressing that no public office holder has to agree 100 per cent with anyone.

He made this view known in an interview with “Zero Tolerance” magazine published by the Economic and Financial Crimes Commission (EFCC).

“I do not have to agree with everything the president wants and even now as governor of the CBN, I do not agree with everything the president says. It is not a requirement of my job that I must agree 100 per cent with the president.

“No public officer has to agree 100 per cent with anyone. You see, your job as public officer, even if you are an adviser to the president, is to give a very honest opinion on what should be done.

“You can disagree and it is the maturity of government that people are allowed to hold views that are different. If you put three or five economists in a room, you will have different opinions,” Sanusi argued.

The CBN boss also expressed optimism that all the former bank chief executives currently facing prosecution would be brought to justice. He noted that the convictions of the former bank chiefs would serve as deterrent to other public office holders not to abuse positions of trust.

Sanusi blamed the incessant reported cases of money laundering on the type of laws operated in the country.

“Some of the money laundering activities are being facilitated by the kind of laws we have,” he argued.

“We have an Exchange Control Act today that says you can take out any amount of dollars from Nigeria as long as you declare at the ports. People walk out of airports with $3 million after declaring it. That is the law; it allows them as long as they declare it and we cannot stop them.”

Speaking on the controversial donations he made to victims of Suleja and Kano bomb blasts, Sanusi reiterated his much often stated position that he acted within the provisions of the CBN Act which empowers him to make such monetary donations.

“In 2002 when the Lagos bomb blast occurred in Ikeja, the CBN gave a donation of N10 million through the then CBN governor, Joseph Sanusi”, he recalled.


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