“It’s A Sack Really”: Babatunde Fashola Condemns CBN Governor Lamido Sanusi’s Suspension

Lagos State Governor Babatunde Fashola condenmed the suspension of the CBN Governor Lamido Sanusi from office, expressing worry that the development might affect Nigeria’s economy in a negative way.

fashola-583254Governor Fashola spoke to the press yesterday after the official commissioning of the Lagos Asphalt plant at Imota in Ikorodu area of the state.

He said the move indicates the Federal Government’s insensitivity to the harm Nigeria experiences because of corruption.

He described Mr. Fashola’s removal as a tactical sack, explaining that, since President Goodluck Jonathan lacks legal power to actually sack the CBN Governor, he had to resort to this kind of action.

“I don’t understand this kind of economic management,” Governor Fashola said. “If the man is going in June, there must be a sense in which messaging about executive tampering with the independence of the Central Bank has economic consequences for investor positioning.

“This is not a suspension. It’s a sack really because it’s only that there’s no power to sack him, and they have looked and looked and looked and they have said, ‘We suspend’. It’s a sack really. The message you are sending out is that it is better to keep quiet about corruption.”

Mr. Sanusi has been suspended from the office by President Goodluck Jonathan with effect since February, 20. He was attending a meeting in Niger but returned to Nigeria upon learning of the situation. Security agents relieved him of his passport immediately upon his arrival.

Mr. Sanusi’s suspension is based on “acts of financial recklessness and misconduct inconsistent with the administration’s vision of a Central Bank,” according to the official letter from the Presidency.

Various gropus and individuals have expressed their opinions, with some supporting the development, others faulting it.

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