Press Release – Lagos. February 21, 2014
HURILAWS calls for withdrawal of Suspension of the CBN Governor
The Human Rights Law Service (HURILAWS) is concerned about the recent decision of the President to suspend the Governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi. Our concern is predicated on the provisions of Section 11 (2) (f) of the Central Bank of Nigeria Act 2007, which in our view does not empower the President to unilaterally suspend and or remove the Governor of the Central Bank.
HURILAWS is also concerned that the suspension of the Governor of the Central Bank is coming a few weeks after his revelation of financial impropriety by the Nigerian National Petroleum Corporation, which to us raise doubts about the motive for his suspension.
While HURILAWS appreciates and respects the President's desire in ensuring that the Central Bank of Nigeria is propelled by the core values of focused economic management, prudence, transparency and financial discipline, we believe that desire should be pursued in line with the rule of law and due process.
HURILAWS therefore calls on the President to withdraw the suspension of the Governor of the Central Bank and to channel whatever misgivings he has about the financial recklessness and competence of the Governor of Central Bank to the Senate for appropriate action in compliance with the Central Bank of Nigeria Act 2007.
Senior Legal/Programme Officer
The Human Rights Law Service (HURILAWS)