I have no problem with the investigations: Sanusi


“These are matters of principle. If there is in fact an infraction of the law, there are agencies that are empowered to investigate that. Why is the government not using the institutions that are legally supposed to investigate these allegations and why is it using a body that does not have the statutory power,” the suspended central bank governor told CNBC Africa.

“I have no problems with investigation and these allegations, I know, have been looked at by the FCC. There are so many agencies that are looking at these things – I don’t have a problem with the agencies that are supposed to look at them.”

The Nigerian High Court had dismissed Sanusi’s challenge over his dismissal by President Goodluck Jonathan after he had filed a law suit challenging Jonathan’s power in suspending him from office.


(READ MORE: Nigerian court dismisses Sanusi case)

“We always knew there was a chance. When you go to court you always look at the possibility of the judge looking at a number of arguments. Obviously we do not agree. We feel the way we presented the matter is not a matter of employer-employee – it was purely a matter of legal interpretation,” Sanusi explained.

“What we were seeking was the court’s ruling on whether the president did have the power under the CBN act to suspend the governor. I imagine the judge understood that but he also felt that if he ruled on that and said it was illegal, then there were employment implications in terms of my having to go back to my position and therefore he thought that was an employment matter.”

He added that the full ruling had not yet been read and that he would have to wait for the full ruling to see if it should go to the NIC, if it should be appealed or if he should look at other options.

Sanusi also stressed the fact that the central bank is audited by PwC and Ernst & Young every year and reiterated that there is nothing wrong with the bank’s accounts.

(READ MORE: Sanusi ‘not shaken’ by court action: counsel)

“We never spent 163 billion. People just threw around numbers. That 163 billion was the total value of contracts awarded, it’s not money spent. If you start from January 2009, that’s when I became governor, the total value of contracts awarded by the central bank was about 200 billion. Out of that money, only 56 billion naira was dispersed so it’s just a lie,” he said.

“Everything the central bank has done has been in line with the law. I have always said that if the Central Bank of Nigeria has done anything in breach of the law, I as chief executive take full personal responsibility. I can assure that I have full confidence in my staff, the processes and systems in the central bank and nothing has gone wrong.”

He stated that he was proud of his record at the central bank and that the suspension hadn’t changed anything.  

(WATCH VIDEO: Nigeria’s Sanusi speaks out after suspension)

“Even if the judge had ruled that the suspension was illegal, I would not go back to the office. I have nothing to prove in the central bank. I have no regrets,” Sanusi said.  

“The suspension was illegal. The investigation is illegal and unconstitutional. But if you chose to walk the path that I chose, there are consequences and you must be willing face those consequences. What will outlast me is what we’ve done. In spite of the difficulties, I am very proud of what those men and women at the central bank have done.”