Suspension: Sanusi knows fate May 20

Sanusi Lamido Sanusi

After a marathon court session that lasted for eight hours, a Federal High Court sitting in Abuja yesterday, fixed May 20, to deliver judgment as to whether or not the suspended Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, would be reinstated into his office.

President Goodluck Jonathan had on February 19, this year, suspended  Sanusi over reports by the Financial Reporting Council of Nigeria (FRCN) accusing him (Sanusi)  of Financial recklessness.

But in a swift reaction, Sanusi  through his counsel, Kola Awodein (SAN) approached the court, challenging his suspension and praying for an order of reinstatement.

Joined in the suit are President Goodluck Jonathan, the Attorney General of the Federation and the Inspector General of Police as respondents. Continue...

All the respondents had earlier brought  preliminary objection, praying the court to dismiss the suit.

Arguing the originating summons, Sanusi contended  that the CBN Act effectively prohibits the President from suspending the CBN Governor.

He argued that the intention of the legislature that enacted the CBN Act is not to give powers to the Executive  to suspend.

Awodein further submitted that the defendant has unlawfully interfered with the operational independence with the suspension of the CBN governor and that the interference has grave consequences on our monetary policies.

He further argued that the suspension can make nonsense of our monetary policies adding that the President can only do what is permitted by the law, otherwise, there will be chaos and  that the suspension can lead to uncertainties in our monetary policies.

Counsel to President Goodluck Jonathan  Fabian Ajogwu SAN , in his response to Sanusi’s argument said that the CBN governor was suspended for awarding contracts beyond his approval limit. Culled