Nigeria's Ex-Governors Defend Bank's Autonomy
The Central Bank Governor Sanusi Lamido Sanusi and a former governor of the bank, Adamu Ciroma, are resisting a move by legislators to prune down the independence of the bank and weaken the powers of its leadership.
InFocus
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Government has backed down on its plan to interrogate Central Bank Governor Sanusi Lamido Sanusi over his report on the state of the country's economy. Read more »
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Central Bank Governor, Lamido Sanusi has raised concern over the falling of oil prices and domestic energy output due to declining global demand. Read more »
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The problem with us is not the ability to serve, but also, our ability to abuse. The CBN autonomy has been abused by the present Governor of Central Bank. How would Sanusi explain his donation of N100m to his Kin and Kith in Kano? How would Sanusi explain his unilateral, but seriously opposed introduction of currency restructuring? What about various projects of the CBN, that are not captured in the National Budget. All these are prone to abuse. The opponents of Legislative intervention, should realise, that we can not have a parralel organ operating or spending our money without control. Old habit die hard, even if it is hazardous, the Bill being proposed by the Reps will in no doubt bring transparency and fiscal responsibility into the activities of Central Bank of Nigeria. This will also bring about fiscal discipline and accountabilty in our financial system. Central Bank is too sensitive to be left entirely into some hands, without due oversight by the National Assembly. Isunola Asi Anishere (Chief).