REMOVAL OF SANUSI VS. CBN ACT

The Federal Government of Nigeria on the 20^th day of February suspend the Governor of the Nigeria Apex Bank, Mallam  Lamido Sanusi who has less than three months to the end of his tenure as the governor of the Apex court.

This generated a lot of controversies as the suspended CBN governor has been exposing financial irregularities in the different ministry of the federation in recent time, the opposition parties through their various spokes person, minority leaders of the house of senate and meaning Nigerians who believe in following of due process have criticized the move.

We shall be discussing the power to appoint, the Act governing the appointment and removal of the governor of the Central Bank of Nigeria. It is also important to know that an employer reserves the right to either hire or fire its employee, so how applicable is this in the case before us.

The law regulating and governing the affairs of the Nigerian APEX bank is the Central Bank (establishment) Act, 2007 which came into force during the administration of President Olusegun Obasanjo.

Section 11(f) of the CBN Act provides for disqualification and cessation of the office of the CBN governor,it provides that the CBN governor can be removed by the president provided that the removal is supported by two third majority of the senate praying that he be so removed.

On whether the president  can remove the CBN governor is clear from the provision of the CBN Act above, but the question to now ask is whether due process was followed , and if he was removed or suspended.

Since the federal government used the word ‘suspend’ which is different from total ‘removal’ which was provided for under the CBN  Act, then the issue of not following due process does not apply.

The suspended Governor of the Central Bank of Nigeria can contest his suspension in a court of competent jurisdiction.

Thank you.

Oyenike Alliyu-Adebiyi LLB(hons)BL