Sanusi May Resign

The governor, Central Bank of Nigeria (CBN), Alhaji Sanusi Lamido Sanusi is under fire to resign his position for calling for the sack of 50 percent of civil servants within the federal government employ.


Again, he is stuck into another web of controversy.  Alhaji Sanusi Lamido Sanusi, the Governor of Central Bank of Nigeria, CBN, will never stop talking. Even though he is expected by some quarters as an Accountant or Economist to conform to the traditional style of maintaining quietude while he goes about his job, he has rather, seemingly seen reasons not to restrict himself within the immediate corridors of his professional practice.

On the contrary, his guts and convictions have continued to compel him to always harp on issues that bother on politics and the economy after all, he superintends over a vital social institution that plays a major role in the monetary and financial regulations. But he would not go about it subtly.

He would rather pull strings from all spheres, almost always drawing the ire of one segment of the society or another. Presently, he has stirred up another round of controversy that is beginning to cast aspersion on his exalted office. Consequently, this has necessitated a chronology of his actions and inactions since he assumed office as the CBN governor. Here they are:

The controversy before:

Recall his N100 million donation to the victims of Boko Haram bomb tragedy in Kano early this year. The donation drew a consternation of rash condemnations. Many questioned the powers of a CBN governor to unilaterally handout such a whooping sum and wondered when CBN became either a money making venture or personal investment. Also, on another plank, many also alleged ethnic biases on the gesture by the CBN governor, saying that such largesse was prompted by his sectarian inclinations.

The argument was that there was a plethora of others victims from across other sites of similar tragedy who hadn’t got help from the CBN governor.

That was the stand of Ohaneze Ndigbo, the pan-Igbo socio-cultural organization.

The National Publicity Secretary of Ohanaeze, Mr. Ralph Ndigwe, demanded explanation from Sanusi on why CBN had not extended similar gestures to hundreds of Igbo who were victims of violent attacks by Boko Haram in the north and so, threatened that Ohanaeze would champion his removal as CBN governor if he fails to explain the rationale behind the donation to Kano victims only.

According to him, as someone who occupies the seat of a Governor of the Nation’s apex bank, Sanusi’s interest should go beyond being parochial.

He said: “We want Sanusi to tell us what CBN has done for hundreds of Igbo who were victims of Boko Haram violent attacks in various parts of the north. If Sanusi fails to give us explanation for CBN’s selective donation of N100 million to victims of Kano attack, we will not hesitate to push for his removal from office as CBN governor”.

Hardly had the dust generated by the controversial donation settled down than another rumpus broke out. Yet again, Sanusi in September this year startled Nigerians when he mouthed it to the mountain tops that the Central Bank had concluded plans to introduce a novel 5000 bank note and convert the existing lower denominations of N5, 10, and N20 notes to coins.

The reactions that trailed the development were legions. It was such that apart form the a few individuals who inclined to the Presidency on the matter, the rest of Nigerian populace indeed poised for a showdown with both Sanusi and the Federal Government had CBN chosen to go defiant to the people’s yearnings.

Current Controversy:

The CBN governor appears unperturbed by any apparent criticisms. In fact, he is becoming more audacious and loquacious. In a world of stark unemployment and ubiquitous poverty, Alhaji Sanusi, like a gad fly, early this week, precisely on Tuesday November 27, 2012 provoked another controversial thought. He called for the sack of 50 percent of Federal workers in the civil service system. He had attended the Second Annual Capital Market Committee Retreat in Warri, Delta State where he made a presentation. Defiling every reasonable argument, Sanusi went crackers, saying that the nation’s infrastructural woes would be subdued only when 50 percent of the civil service workforce
is fired.

Along side the unsolicited suggestion, the apex bank governor also lamented the over-bloated National Assembly, submitting that the Nation has no business paying the salaries and allowances of 109 Senators and 360 members of House of Representatives who populate the Upper and Lower Chambers of the National Assembly. In his opinion, the members live in opulence and affluence to the detriment of infrastructural development the country yearns for.

Similarly, the CBN governor had in a lecture last year claimed that 25 per cent of the overheads of the Federal Government budget went to the National Assembly.
He said: “Twenty five per cent of the overhead of the Federal Government budget goes to National Assembly. I have figures from the office of budget for the year 2010. Total government overhead is N536, 268,49, 280. Total overhead of the National Assembly is N136, 259,768, 112 which is exactly 25.1 per cent of Federal Government overhead.

The overhead of the National Assembly as a percentage of the Federal Government budget in 2009 was 19. 87 and in 2008 was 14.19”.

Hear his Warri lecture: “At the moment 70 per cent of Federal Government’s revenue goes for payment of salaries and entitlement of civil servants, leaving 30 per cent for development of 167 million

Nigerians. That means that for every naira government earns, 70 kobo is consumed by civil servants. You have to fire half of the civil service because the revenue of the government  is supposed to be for 167 million Nigerians. Any society where government spends 70 per cent of its revenue on its civil service has a problem. It is unsustainable.

The various tiers of government should cut down their
recurrent expenditure and use the fund to provide basic infrastructure like schools, hospital, etc.

“How can we be using the proceeds from our major source of revenue to service recurrent expenditure, by paying salaries, allowances, etc.

The country should be thinking of enhancing its productivity base
rather than spending on things that cannot create wealth.”

Sanusi also would bat an eyelid as he went down to the grass-root, querying why the there should be 774 local government areas which also draw milk from the body of the federal government to maintain their Chairmen and Councilors

He said: “Do we need 774 LGAs? Do we need 36 states some of which are not viable? Why not just remove them and have only state governments?,” he asked rhetorically

A galaxy of reactions:

Governor Emmanuel Uduaghan  of Delta State who was present at the occasion was the first to react to Sanusi.

Much as he agreed that there is need to crash the expenditure rate, he did not however subscribe to Sanusi’s hypothesis of sacking workers without alternatives. Uduaghan: “If we must do that, then we should provide alternatives where the sacked workers can become economically viable.

The reason why we are asking the Federal Government to provide basic
infrastructure and enabling environment for private investors to invest is because they can employ workers who will be disengaged from public sector. Therefore, I don’t agree with the CBN governor that we should sack our workers to reduce the recurrent expenditure in our budget without providing alternatives.”

Nigeria Labour

Congress and Trade Union Congress react:

“It is obvious Sanusi was never qualified for the office of the CBN governor in the first instance, and he must be asked to leave the office as he has shown more than enough incompetence and contempt for the Nigerian people.“Sanusi’s only understanding of governance is simply about saving money and not saving lives as his proposals are repeatedly devoid of human content and without consideration for the implications on larger society.

“The burden that will come with mass sack as high as 50 per cent of civil servants, in addition to the already saturated unemployment market can better be imagined. Governance is about improving the quality of the lives of the people and not destruction of productive lives.

“Today, there are countless probe reports with names of those who swindled our country of several trillions of both naira and foreign currencies still living in Nigeria either walking freely around the
corridors of power or directly holding public or political offices rather than being in jail.

“The truth, which Sanusi is running away from, is that corruption has become a real burden on the economy and it should be the only priority item on the table of any serious government. Even if you sack all the workers in Nigeria, any amount saved from that will be stolen and the culprit will walk in freedom.

“To show how unknowledgeable he is as a public office holder, Sanusi also called for the scrapping of local governments in Nigeria, a country that runs a federal system, no matter how inefficient the system is.

“Local government is an important tier of government in a federal system and what we need is to strengthen the system to enable it to deliver good governance to the people as it is the closest to the grass roots and rather than removing the tier as proposed by Mallam Sanusi, the local governments require more funding to enable them to function properly as required under a federal system,” a statement credited to the NLC President, Comrade Abduwaheed Omar in Abuja on Wednesday said.

38 Responses to "Sanusi May Resign"

  1. Igada   December 3, 2012 at 7:37 am

    Sanusi suppose to be in jail, he is more than selfish. He think that been cbn governor makes him a god. i don’t blame him, The blame goes to FG for choosing such a useless malam to be cbn governor.

    • odeh pat   December 14, 2012 at 1:33 pm

      i lik ur idea he is not a good leader

    • mohammed   January 6, 2013 at 7:43 am

      igada or whatever ur name is? i have noticed the ENGLISH LANGUAGE is a problem to u? Pls if u dont have better things to do with ur time, i advice u go back to primary school to improve ur english

      • Doski   January 16, 2013 at 12:07 pm

        mallam mohamed,i knw u are a teacher,don teach anybody teach yrself,u tribalistic area man

  2. Anthony N Z Sani   December 5, 2012 at 5:54 pm

    If what I heard Mallam Sanusi Lamido Sanusi said in BBC Hausa was what he had actually said that in Nigeria it is government of public officers and civil servants by public officers and civil servants for the same group of people,then the only conclusion is that he is paying the price of telling wicked truth.

  3. Benita   December 8, 2012 at 9:25 am

    why should i bother about him? He has been selfish and wicked, maybe igada is right, he should be in jail..

  4. fatihu   December 10, 2012 at 10:58 am

    mr igada or agada what ever your name is, you people your you dont have moral approach but no wonder that how you southerners have been trained since when the inceptions of this country named nigeria there has no any sound and educated CBN governor like sanusi lamido you are just having a hatred for him becouse of islamic banking,no matter what islamic bank ambition has been fulfill you shud go gather your bishops to create christian bank sanusi will give you licence to operate if meet the standerd criteria that is just everything is just about being in order of nigerian constitutions and cbn prudential gudelines.pls mind your words you southerners you are bush people sme among you

    • odeh pat   December 14, 2012 at 1:39 pm

      fatihu or what u called ur self is sanusi a good CBA governor he should resign from his post and hand it over to someone else why are u insulting the southerners

    • Doski   January 16, 2013 at 12:14 pm

      fatihu or wht is ur name,try refublish ur use of english,u can write in vanacular if compusing a simple gramer is giving u problem.islamist rubbish.the whole world is after u guys since ur religion is all abt violence,hope u knw wht the france troops is doing 2 yr islaist trash at Mali.hav a re-think

    • paul   February 4, 2013 at 12:41 pm

      fatidiot or what, that name is not Nigerian, u better go back to Niger where u came. desert idiot.

  5. odeh pat   December 14, 2012 at 1:40 pm

    sanusi should resign

  6. sam-franklyn omokore   December 23, 2012 at 8:24 am

    i love dis site

  7. sam-franklyn omokore   December 23, 2012 at 8:25 am

    nice site

  8. sam-franklyn omokore   December 23, 2012 at 8:29 am

    he need to be sacked cos hes so selfish nd adamant, he does not take to advice nd does not hv respect for his contry. let him go useless sanusi.

  9. Emmanuel Jerry   December 30, 2012 at 9:36 pm

    @Fatihu you are so fulish for making such comment infact {MALLAM SANUSI} Should be sentence to life jail

  10. Aliyu Usman   January 2, 2013 at 8:46 am

    sanusi lamido sanusi is a biological fool. i graduted from the university 4years ago and i have not secured any job, and yet, he is talking about retrenchment. well, he may be a DRUNKARD.

    • saada   August 10, 2013 at 9:55 am

      Haba na SLS take you to school or sponsor You???? Wake up Bros, pray fr God to give you Job no SLS he is a mortal human like You,

  11. Azangs MD   January 5, 2013 at 12:18 pm

    Nigerians, we seem to be forgetting something here. Whatever happens we still remain an indivisible entity call “NIGERIAN”. our common enemy should be fighting corruption and ill-governance most of all causing the first change from our individual self, making constructive criticism on social side that technology has provided for us to display our good sense of reasoning, rather than reducing our selves to mere religious hooligan. I am being particular about
    MR FATIHU its disappointing the sounded in that your text.

  12. jude   January 6, 2013 at 6:31 pm

    government must surely deal with sanusi for such alterances unless we don’t get government b/c if nothing was done to him another person can repeat such again.

  13. Jesugade Ibitoye   January 7, 2013 at 12:13 pm

    I strongly believe Mallam Sanusi got it all wrong. I think if we can deal with the menace of corruption as a nation and whatever money apportioned by government for any project is not inflated and used solely for the project specified without some big men pocketing the money, then I think Nigerians will feel the impact of government and save more money for capital projects unlike sacking more workers to save cash.

  14. emmanuel jacob vawa   January 14, 2013 at 2:32 pm

    as an economics student,i totally agree with sanusi.the summary of his analogy is that we should not waste our money on unproductive activties that do not contribute to the economic growth but on capital expenditure which has a multiplier effect of creating more job.

    • saad   April 2, 2013 at 12:25 pm

      well to me the CBN gov hv done an excellent job, even thought some Bank Ceo’s hv lost out in the reform as wellas there friends n relatives is a pity, but i am happy that the banks didnt close with my millions b4——-wahala come to my door
      weldone or our gov
      so we should allow our hard earn money fr Bank Ceo’s to buy private JETS, Build houses in uk, dubai etc——then after a bank closed shop —–
      dats all
      haba nigerians lets thank god dat we are lucky fr d first time we didnt close bnks many dont knw hw painful when u lose ur entire live savings. dats d only REASON i like the Action of the Gov, atleast we knw some lost jobs but our monies are safe———-Glory be to God fr saving my money in IBPLC and OCEANIC BANK ————HMMMMMMMMM if it happens my own don finish 0.

  15. simeon   April 23, 2013 at 10:04 pm

    we r running a democratic system of govt n so power belongs to the people and not much to the govt, if only sanusi could understand this, he won’t be saying those jagon. If peoples interest is not discuss first, what is then the need of leadership or governance.

  16. emus   May 9, 2013 at 4:11 pm

    if this man will resign let him resign.

  17. incredible   May 10, 2013 at 3:33 pm

    Yes I have found this news now, I am grateful have found the full details, let me let you knw that sanusi Lamido will never resign mark my words

  18. mastup   May 22, 2013 at 3:58 pm

    i wander what is your benefits in his Administration

  19. femi   May 27, 2013 at 3:51 pm


  20. Abel Sunday Orih Idoma   June 19, 2013 at 8:46 pm

    Haba Oga Sanusi, I hope you are not out of your right sences b4 making these your observations because I wouldn’t be surprised if some enemies of progress have started applying their diabolical means to ease you out of office unknowingly. But my strong appeal goes to my dear Nigerians who have turned this issue into a battle ground for religious, ethnicity and other clandestian purposes and have gone into fanning the embers of unsolicited war instead of embracing common beliefs and values that would cement the entity of this nation. Sanusi and his likes are not good enough to inspire us into battling ourselves, God forbid and so shall it be for the collective interest of the Nigeria nation.

  21. adaeze   July 3, 2013 at 10:00 pm

    Yeah I agree with you, God is our strength and hope in this nation.He will definitely see us through

  22. MOMOH MURTALA   August 22, 2013 at 11:49 am

    Many appreciation go to many Nigerians who want the benefit of this country.

    for those in support and those who are against the subject matter, God know you mind. if your stand point is in the interest of this country, God will judge you accordingly.

    stop embarrassing yourselves, The general Administration of Nigeria is bad and it begging for help. Let all come to prayer to help Nigeria.

    NB- Religion have not done any thing but you, you are the problem of Nigeria. Sanusi should decide his faith; may be or God will provide a better person!!


Leave a Reply

Your email address will not be published.