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“I Will Not Go Back to the Job”! Lamido Sanusi speaks out After Suspension

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Lamido-Sanusi

Earlier today President Jonathan via his representative, announced the suspension of CBN Governor Sanusi Lamido Sanusi. (click here to read)

CNBC Africa got in touch with Lamido Sanusi. He speaks about the recent allegations by the government, his thoughts on the Nigerian economy, and the memorable moment of his tenure.

A quote from the interview
On whether he was on notice with respect to his suspension: Well, I have been told by my office that a letter was received. As you know, I flew in this morning to Niamey along with other Governors of West African Central Banks to meet with the President of Niger and President of Ghana…Fortunately, I came in with my VP Sarah Alade whom I have been asked to hand over to.

I have left the meeting to hand over to her. I have just met the Nigerian Ambassador to Niger who confirmed to me that the President asked him to inform me of the decision. On accusations of “various acts of financial misconduct and recklessness” he said: I don’t know what they are talking about. When I come back, I will see what those allegations are…I don’t think there is any issue raised that has not been raised before.

We all know what this is about. This is about consequences for decisions I have taken… This is something that is long overdue. I am surprised it took them so long.Mallam Sanusi Suspended CBN Governor

Watch!

41 Comments

  1. sammybuks

    February 20, 2014 at 12:36 pm

    Mr sanusi stop hanging your self, you deserve to be sacked not suspension.

    • leye

      February 20, 2014 at 3:26 pm

      those talking recklessly obviously dont know what SLS is all about,ur leaders are robbing u silly,politicians are stealing public funds and enriching themselves and the only man brave enuf to face them,u guys are castigating,its obviously only Jo(previous commentator) that has any brains. within 4hrs the naira has already fallen…how blind can my people be,why bring tribal sentiments into this .

    • me

      February 20, 2014 at 8:42 pm

      are u educated at all? do you really understand what is going on in Nigeria? how old are? i cant even quantify if really you understand yourself before making comment on sensitive issue like this.

  2. sommaola

    February 20, 2014 at 1:14 pm

    Good riddance to Bad rubbish if I may say… We aint asking you back or in any political/public office!!!!! Go back to your emirate your needed there! SMH

  3. @edDREAMZ

    February 20, 2014 at 1:18 pm

    Yu will not go back… Na only God knw wetin u don already gather b4 making this statement……

  4. mrs chidukane

    February 20, 2014 at 1:29 pm

    BN please,kindly consider transcribing the highlights of such videos to aid those that can’t watch. Thanks

  5. Hosla

    February 20, 2014 at 1:38 pm

    How wil u go bak wen ur tenure is almost ending? Go and serve ur kingdom…

  6. Retta

    February 20, 2014 at 1:38 pm

    Superiority complex filled human being like there is non like him, like there is non other before and after him. That man is supposed to be fired not suspended. His ego stinks.
    With his annoying over-sabi attitude. Got to listen to him on the Sunrise program on channels TV yesterday. No doubt he is intelligent, but that isn’t enough for leadership, he lacks wisdom…

    He also broke the 11th commandment: Thou shall not get caught…

    • Blossom

      February 20, 2014 at 3:20 pm

      THE WORLD HATES SUCCESSFUL PEOPLE SHA. SEE HATRED. LORD HELP US.

    • Blessmyheart

      February 20, 2014 at 7:22 pm

      Asides his ego and talkativeness, please enlighten me, what did he do wrong? And why did Mr President wait for him to leave the country before suddenly announcing his suspension? How come there’s already a replacement being presented to the Senate? I need answers please

    • Blessmyheart

      February 21, 2014 at 10:39 am

      Allegedly, he has been making spurious donations in the name of CSR. Guess that’s where the ‘reckless-spending’ accusation is coming from

  7. Confuzzled

    February 20, 2014 at 1:40 pm

    Can someone tell me what he did that was ‘reckless’?

    • Iris

      February 20, 2014 at 8:44 pm

      Abeg I’m wondering too. Are people supporting his suspension because of his ego or because he actually did something wrong? A few weeks ago he was saying that billions of dollars could not be accounted for in the oil sector. This week he has been suspended. My instinct is to link the two together, unless I missed some act of gross misconduct that he committed.

  8. lilz

    February 20, 2014 at 2:04 pm

    im really surprised at the comments here. i do not understand why nigerians are happy with this development completely ignoring the implications of this.. Sanusi is the best CBN gov Nigeria has ever had.. his policies were for the utmost benefit of nigerians.. its just wrong

    • TA

      February 20, 2014 at 4:07 pm

      The best CBN Governor!!! You are joking right?

    • lilz

      February 20, 2014 at 4:48 pm

      no im serious

  9. koko

    February 20, 2014 at 2:12 pm

    i think its long overdue, am forced to believe he is of the so called “progressives”. should be sack not suspension. big upS GEJ

  10. #ihatenigerians#

    February 20, 2014 at 2:16 pm

    From the comments seen here, it’s crystal clear that our problem in this country are the foolish citizens. here we have one of the best products the country has to offer, sacked because of his recent revelations about billions looted by the present government. and yet we have the idiots here praising the Government for Sacking him??? Nigerians aint worth fighting for..

  11. #ihatenigerians#

    February 20, 2014 at 2:19 pm

    this present Government has wholly succeeded in dividing Nigeria along Religious and ethnic lines. we now see even the educated folks spewing trash like “go back to your kingdom” we’vent had it this bad

  12. Luqman

    February 20, 2014 at 2:25 pm

    We deserves this kind of government we have presently. It reflects in our way of thinking. We shall give you the leaders according to the people in the society (followers will become leaders 2moro), when the society is rotten with the followers that cannot differentiate right from their left, they will definitely settle down for the cruel and abrasive leaders

  13. Jo!

    February 20, 2014 at 2:38 pm

    I don’t understand the attack on SLS o, from previous commenters.
    Does any of you actually know what this means for Nigeria? Do you know the bonds/forex market has been closed? Do you know what that means? Foreign investors no longer have faith in us and are bailing. The Naira will fall drastically in the next couple of days. Why? Our President is mixing biz with politics.
    I’m just tired, I can’t say anything

  14. Peaches 77

    February 20, 2014 at 2:52 pm

    Interviewer: All the analysts you have spoken with?? what analysts do you get your facts from?

  15. Don Smiley

    February 20, 2014 at 2:59 pm

    Dear Former Governor Sanusi Lamido Sanusi,

    Such is life. Such is life. Such is life.

    You made your mark, however controversial you liked to get. Sometimes, it was necessary to rock the boat. At other times, you looked like a man who just sought attention and failed to grasp the import of your office. There can be eloquence in silence.

    I only hope that your holier-than-thou mien was not an act. As we speak, you can rest assured that the FG will fight back dirty with a smear campaign on your legacy. I hope you kept your hands clean. If you are then your legacy is unimpeachable.

    On a personal note, a number of people feel you went too far in your fight against the CEOs of Intercontinental, Oceanic, Afribank, Finbank, etc. You personalized that battle. To think that those who benefited from your reforms are not much better. Then the assets you foisted on them have been too big to swallow.

    Then there were policies that were not fully thought through such as the cashless policy, Islamic banking, reversal of the banking sector consolidation, etc.

    One area you shone was in the defense of the Naira. That won you plaudits. On your tight monetary policy – high interest rates and cash reserve ratio – the jury is still out on the long-term effect on businesses and households.

    As you sail off into the midnight, I invite you to recall General Yakubu Gowon’s stoic attitude when he was informed of his overthrow in far away Kampala in July, 1975:

    All the world’s a stage,
    And all the men and women merely players:
    They have their exits and their entrances;
    And one man in his time plays many parts,
    His acts being seven ages. At first the infant,
    Mewling and puking in the nurse’s arms.
    And then the whining school-boy, with his satchel
    And shining morning face, creeping like snail
    Unwillingly to school. And then the lover,
    Sighing like furnace, with a woeful ballad
    Made to his mistress’ eyebrow. Then a soldier,
    Full of strange oaths and bearded like the pard,
    Jealous in honour, sudden and quick in quarrel,
    Seeking the bubble reputation
    Even in the cannon’s mouth. And then the justice,
    In fair round belly with good capon lined,
    With eyes severe and beard of formal cut,
    Full of wise saws and modern instances;
    And so he plays his part. The sixth age shifts
    Into the lean and slipper’d pantaloon,
    With spectacles on nose and pouch on side,
    His youthful hose, well saved, a world too wide
    For his shrunk shank; and his big manly voice,
    Turning again toward childish treble, pipes
    And whistles in his sound. Last scene of all,
    That ends this strange eventful history,
    Is second childishness and mere oblivion,
    Sans teeth, sans eyes, sans taste, sans everything.

    Now Sanusi, take my advice: go quietly, go quickly, go away.

    • TA

      February 20, 2014 at 4:08 pm

      Thank you,thank you and thank you.

  16. Ibrahimk

    February 20, 2014 at 3:00 pm

    Mhn! A dog will always bark, any right thinking Nigerian saw this coming especially with N20b NNPC scandal. This is the problem with Nigerian leaders, and this is also the problem with Nigerian people, we are not looking at what Sanusi was trying to protect but rather we sentimentally looking at him from different perspective. Thread softly whenever you are setting a trap for your perceived enemy because you may end up being trapped by it. We are still asking where is that N20b? You like it or not, it will definitely be accounted for one day, politics or not. I have spoken!

  17. X Factor

    February 20, 2014 at 5:10 pm

    RAZIA KHAN, HEAD OF AFRICA RESEARCH, STANDARD CHARTERED:
    “The nature of the suspension will come as a significant shock to foreign portfolio investors, whose willingness to invest in Nigeria was very much influenced by the transparency and anti-inflation credibility associated with Sanusi’s policies.”This will be a significant negative for the Nigerian naira and Nigerian financial markets. Investors will pay attention to whichever successor is announced, but this is unlikely to sit comfortably.”

    SAMIR GADIO, EMERGING MARKET STRATEGIST, STANDARD BANK:
    “This is a disruptive move which indicates that the CBN (Central Bank of Nigeria) has de facto lost much of its independence.”Clearly it is driven by political motives given Sanusi’s vocal criticism of oil revenue leakages and the opaque fiscal system in Nigeria.”If anything, this development will compound upside risks to USD/NGN by precipitating the foreign exit and a negative domestic positioning against the naira.

    “Foreign investors are likely to be active sellers of Nigerian assets in coming days subject to market liquidity constraints.”

    Thank you Nigeria for breaking my heart. #SanusiSuspended #AnotherCluelessDecision #WrongTiming

    • Jo!

      February 21, 2014 at 12:18 pm

      my exact point

  18. kelvin

    February 20, 2014 at 5:23 pm

    why is sanusi kidding him self by making people blive he is important… you deserve the sack letter rather than the suspension u just got

  19. Prince

    February 20, 2014 at 6:35 pm

    Sanusi has practically completed his term in office and had earlier indicated that he was not Seeking a second term, the biggest loser is the president. His actions demonstrates that he has something to hide, it also goes further to confirm Rt. Hon. Tambuwal’s claim that Jonathan supports and encourages corruption.

  20. dbaby

    February 20, 2014 at 8:21 pm

    Am amazed at d way nigerians tink at times,dey keep looting our funds nd d only person who stood up for us had been suspended so dey can get him out of deir way nd continue looting,who knew dat nnpc was nt remiting funds back,even d min of finance knew nd kept quiet.d pple dat need to be sacked is dat petroleum minister nd minister of finance,madam due process.I seriously wonder y dt petroleum minister is stil dere,if she was in usa,she will be in kirikiri by naw.oga sanusi am a yoruba girl nd u hv done well,wen deres nutin to leave for d next generation den d eye of nigerians will clear

  21. tunde

    February 20, 2014 at 10:07 pm

    No doubt, SLM actually brought sanity to our financial systems. Of course, for any change agents there must be reprisals and SLM example can’t be an exception. In my opinion, he has assisted to sanitize the system. HE IS AN HERO.

  22. Confused

    February 20, 2014 at 11:38 pm

    I can clearly see why this country is the way it is. Instead of people to think about the consequences of this for Nigeria and its economy etc (good and/or bad), they are talking about arrogance, superiority complex and this person believing he is important or what not. What the hell though???!!! … why do we focus on the most unimportant things? Ughhhh They just sacked the Gov of the Central Bank and all you have to talk about is his perceived arrogance? Did you ever once stop to think about how much these things actually do affect your daily lives? Gosh. Come on people. Freaking wake up and stop living in ignorance land!!!

  23. Gandes

    February 21, 2014 at 12:59 am

    Serves the Idiot well. Sanusi should have a taste of his own medicine. Especially after putting over 3000 Bankers on the street between 2009 – 2010. He thrived on Controversy to remain relevant as CBN Governor. To me, his tenure added NOTHING meaningful to the Nigerian economy. Abeg make e go……….. E wahala to Plenty!!!

  24. NO HOPE

    February 21, 2014 at 1:10 am

    GEJ: DONT MIND THAT IDIOT LSL, HE WANTED TO PUT SAND SAND IN OUR GARRI NOW I HAVE SHOWN HIM WHO THE BOSS IS.

    DIEZANI: IF YOU HADN’T REMOVED HIM I WOULDN’T HAVE ALLOWED YOU INTO MY BED AGAIN.

    NIGERIAN SUPER RICH: NOW THE ROAD IS CLEAR FOR US TO CONTINUE PLUNDERING THE COUNTRY AFTER ALL NIGERIA IS THE BIRTHRIGHT OF A FEW LIKE US. FORGET ABOUT THE REST OF THE MAGGOTS CALLED CITIZENS, LET US CONTINUE THE LOOTING AND IF WE ARE LUCKY WE CAN EVEN CARRY SOME TO HELL. WE ARE THE gods OF THIS NATION, WE CAN KILL, LOOT, MAKE THE CITIZENRY SURE AND NOTHING WILL HAPPEN. WE ALONE KNOW HOW TO PLAY THIS GAME CALLED NIGERIA.

    SENATE: THIS IS ANOTHER GOOD OPPORTUNITY FOR US TO GET MONEY, LETS MAKE SOME NOISE ABOUT IT BECAUSE WE KNOW THAT GEJ WILL VISIT OUR HOMES IN THE EARLY MORNING WITH MONIES WE CAN NEVER REFUSE.

    THE COMMON MAN:
    1ST COMMENT – SANUSI WAS FROM THE NORTH LIKE US, THATS WHY HE WAS REMOVED.
    2ND COMMENT – NO HE WAS A MUSLIM THATS WHY HE WAS REMOVED.
    3RD COMMENT – HE ATE MONEY THATS WHY HE WAS REMOVED.
    AND SO ON AND SO FORTH. (FOOLISH REASONINGS………WHAT ABOUT THE ISSUES HE RAISED)

    REASONABLE MEN AND WOMEN: UNTIL THE DAY EITHER GOD SAVES US AND SENDS HIS WRATH ON ALL THESE PEOPLE WHO ACT WITH IMPUNITY AND RAPE OUR COUNTRY OOOR THE MASSES RISE AND KILL THEM ALL. NIGERIA IS A FINISHED STATE. SO THE COMMON MAN SHOULD SHUT UP AND LET THE LOOTERS AND PRETENDERS WHO CLAIM EVERY FRIDAY OR SUNDAY TO WORSHIP GOD/ALLAH CONTINUE LOOTING THE TREASURY. AFTERALL THEY KNOW VERY WELL THAT IF A WAR BREAKS OUT THE SUPER RICH WILL ALL FLY OUT IN THEIR PRIVATE JETS TO THE BAHAMAS AND BASK AWAY ON THE BEACHES WHILE THE FOOLISH POOR MASSES WILL BE BUSY KILLING THEMSELVES, BECAUSE THESE SUPER RICH KNOW THAT THE ONLY WAY TO AVOID BEING CAUGHT IS TO PLAY THE RELIGION, ETHNIC TRIBE OR BLACKMAIL CARDS AMONG A FEW THINGS.

  25. Dee

    February 21, 2014 at 2:20 am

    The President obviously ha something to hide regarding the missing money and some so called educated people here are so blinded by tribalism they are not even rational . Sanisi’s only crime is that he wasn’t ready to steal with them.

  26. victor

    February 21, 2014 at 1:12 pm

    The truth:Sanusi is an inteligent man that has a way of defending himself wisely even when he is wrong.The issue he raised was a good one but he was to hasty about it,without applying wisdom,that led to the error in figure he made(from initial $48billion to $20 billion)This double mouth sends the wrong signal.I tot he should have waited to leave office to do that.However,he has done some banking reform,but how does it affect the common Man.It led to the Sack of alot of bankers,it led to the limitation of loans to businesses,his un control and quick talk syndrome without understanding his position,crashed the stock exchange. I think that the revelation he made is good but for democracy as I wish that the NNPC be made to face Law.Though,if I were the presindent,I will have suspended him long time ago because his action and body language over the time has been against government portraying himself as a saint to the exitment of political opponent.

  27. Marvel

    February 21, 2014 at 5:56 pm

    @Victor, LSL is an economist. I was going to call GEJ a politician but the truth is,he is a marine biologist who has very little business as president of anywhere let alone a country as complex as Nigeria. My money is on SLS.

  28. tevin

    February 21, 2014 at 8:10 pm

    Hmmmm. May God help this nation. Sanusi has written his name in the sands of time, i salute his doggedness and sagacity. He has never been bothered and never will be. He only fought for the defence of the independence of the CBN. We shall watch and see.

  29. dr jako

    February 22, 2014 at 11:03 am

    Sanusi we wont want u back to that office forever, nigeria is blessed with more brilliant,respectful, and experienced,people who have regards for due procees, pple who will not mix good deeds with evil as you did. you wont get that opprtunity again

  30. dr jako

    February 22, 2014 at 11:14 am

    mallam u try but u too talk, the office of the CBN Gov is actually not for Politician

  31. Sweery

    February 24, 2014 at 10:13 am

    The number one problem with Nigerians is lack of knowledge. If you are going to comment on national issues, it’s expected that you at least read or learn about it that will inform your conclusions. Its obvious a lot of us just spew nonsense because we do not understand the problem nor its consequences.
    Sanusi is a good man, he took down people others would have worshiped and made appropriate policies regardless of who is affected because he cares about tomorrow and the future of those unborn. And as we all know, such men do not last on the seat of power especially in a country as screwed as Nigeria. In the end everything is cloned around religious or tribal sentiments, that is the way the government wants us to think and they’ve done a good job of it from the comments i read above.

    Good luck to us!

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