Suspended Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi rejected last night allegations of financial recklessness levelled against him by the government.
He told CNBC Africa: “Well, I don’t know what they are talking about. … When I come back, I’ll see what those allegations are”.
According to him, the Financial Reporting Council looked through the banks’ audited accounts some time ago and asked a few questions which were sent to the President. However, he said there was no feedback.
“I don’t think there’s any issue that’s been raised that has not been raised before, but you know we all know what this is about. This is about the consequences for the changes that I have made and this is something that is long overdue. I’m surprised it took them so long,” he explained.
Sanusi was appointed as the governor of the central bank in 2009 and has since led some significant changes in Nigeria’s financial sector. In August 2009, he led the CBN to save eight banks found to have failed the ‘stress test’
“Basically, my biggest concern is for the system and I hope that the Nigerian economy will not be hurt by this. I also hope the integrity of the central bank will be protected … I’ve been fortunate to have had an opportunity to do some good work on the bank on stability. I would not want to see all of that unravelled and no individual is worth it,” he said.
Late last year, he wrote to President Goodluck Jonathan alleging the state owned Nigerian National Petroleum Corporation (NNPC) had retained almost $50 billion in revenue that was due to the government. On February 4, he told the senate finance committee that about 20 billion dollars was still outstanding.
“You can suspend an individual but you can’t suspend the truth. If this is all about the concerns around oil revenues in the oil sector, if this is going to bring back the $20 billion then, that is fine,” he added.
Sanusi believes that his legacy of low inflation, stable exchange rate, a reformed and well governed banking system, of robust reserves, financial inclusion and of an independent central bank will be remembered and that it will be recorded in history.
“Like I said, I have no regrets, I have no ill-feelings, with no sadness, I’m happy. I’m proud of what I have done,” he added.
Also speaking on Channels Television last night, Sanusi alleged that the Nigeria National Petroleum Corporation (NNPC) accounts have not been audited since 2005.
He said the CBN account has been audited till 2013. He dismissed allegations of financial recklessness leveled against him, wondering whether building structures in schools and universities, amounted to financial recklessness.
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