These are heady days for the imperious traditional ruler of the
Nigerian financial system, Sanusi Lamido Sanusi, who for all intents and
purposes can best be described as the Emir, rather than governor, of the
Central Bank of Nigeria. The Kano-born prince, who has made it abundantly clear
that his only ambition in life is to become the Emir of Kano, has been
conducting himself in the most power-drunk manner ever seen in a CBN governor.
And being the boastful person that he is, he will forever brag about how he
took on the President of the Federal Republic of Nigeria, rubbished him in
public while supposedly serving as part of his government, and nothing
happened!
How did things come to this sorry pass? As every Nigerian with
access to any media outlet knows, the Emir of the CBN wrote a letter to the
President insinuating theft of $49.8bn from the sale of the nation’s crude oil.
A while later ‘His Royal Highness’ admitted before the whole nation that he had
lied in his letter. Thereafter, the CBN Emir who likes to ‘form’ (behave) like
“oyinbo” (white or Englishman or woman), as we say in these parts, failed to do
what a typical “oyinbo” will do when confronted with such a grave failing at
his duty post; he failed to resign.
The overly gentle President Goodluck Jonathan—and every Nigerian
knows that being too gentle is one of the President’s faults—reportedly asked
the Emir of CBN to turn in his resignation letter and perhaps proceed to wait
in Kano to achieve his life’s ambition. It was then that ‘His Royal Highness’
began quoting the Constitution (the same Constitution he has repeatedly
violated by refusing to present CBN’s budget before the National Assembly), and
talking two-thirds of the Senate, and a spurious claim of threat to his life.
He even sent his media people to, in effect, gloat before Nigerians that,
indeed, he is the Emir of CBN and cannot be removed from office.
As his ‘powerless’ subjects, Nigerians can only be grateful that
the Emir of CBN does not have the same advantages of the Emir of Kano, whose
throne he so sorely covets. Unlike the very dignified Emir of Kano, the Emir of
CBN has a five-year tenure that will soon come to an end. ‘His Royal Highness’
has been telling whoever cares to listen that he does not want a second term at
the helm of CBN. The more important question is: will any Nigerian, in his
right senses, support a second term of office for this divisive, unrestrained,
and attention-seeking Emir of CBN?
As a former director in the Presidency, Mr Eric Teniola, wrote
in a recent public article, the person Nigeria needs as CBN governor should be
“a cool-headed banker and an Economist who will not convert the office to a
television studio.” This, undoubtedly, was a subtle but very clear barb at ‘His
Royal Highness’, the outgoing Emir of CBN who indeed turned the office to a
sitcom drama and brought the high office into disrepute during his tenure.
Besides the many allegations of immoral and gross misconduct
levelled against the outgoing Emir of CBN, ‘His Royal Highness’ is on record as
the most profligate CBN head the country has ever had. Minority Leader of the
House of Representatives, Hon. Femi Gbajabiamila (then representing Lagos State
under the ACN), once described the CBN under Sanusi as “spendthrift” and
“bleeding the economy of the country.”
Hon. Gbajabiamila did not make this description without basis.
As his House of Representatives colleague, Hon. Goni Bukar Lawan (PDP/Yobe)
said, “The moment I heard that the CBN governor, Sanusi Lamido Sanusi, donated
N100million to victims of Boko Haram attacks in Kano State, I quickly rushed to
my constitution to see if Yobe State was no longer part of Nigeria. The
bombings happened in Yobe, before Kano State. So, are we not part of Nigeria?”
And yet, in this divisive, insensitive, and indecorous manner,
the outgoing Emir of CBN, hid under the corporate social responsibility of the
institution, went around making more unprecedented donations as if the Central
Bank of Nigeria had become a relief agency.
In addition, Hon. Gbajabiamila quoted section 42 of the 1999
Constitution and other relevant statutes in decrying Sanusi’s refusal to
present CBN’s budget to the National Assembly for approval. Hon. Gbajabiamila
said, “Even the Federal Government brings its budget for us to approve; so if
Sanusi says he does not need to do that according to Section 162 of the 1999
Constitution, then he thinks the CBN is above the Federal Government.”
It is indeed amusing that the outgoing Emir of CBN can today be
relying on the Constitution he does not respect to retain him for a few more
months in an office he has told the world he no longer wants. One would have
thought ‘His Royal Highness’ would have since left for Kano bag and baggage, in
order to plot his emergence as the next Emir of Kano by all means foul and
fair. What such unbridled ambition means for the current Emir of Kano is
something only ‘His Royal Highness’, Sanusi Lamido Sanusi, the outgoing Emir of
CBN, can tell the world.