Opinion
Sanusi: Suspension Or Termination?
“I have no regrets; I have no ill feelings and with no sadness. I’m happy; I’m proud of what I have done”.
These were the words of
Sanusi as he reacted to his suspension as the Governor of the Central Bank of Nigeria, (CBN), by President Goodluck Jonathan.
Though the Presidency referred to its unprecedented action “suspension from office”, it attracted divergent views from Nigerians of all walks of life.
Many Nigerians expressed anger over his sudden removal and claimed that he was being punished because of the series of revelations he had made about corrupt practices at the Nigerian National Petroleum Corporation ( NNPC), in the recent past. Recently, Sanusi revealed that $20 billion oil revenue was unremitted by the NNPC.
A statement by presidential spokesman, Dr Reuben Abati, debunked insinuations that the suspended CBN governor was witch-hunted because of revelations of financial corruption in the NNPC.
Rather, Abati stated that financial recklessness and misconduct were reasons for his suspension. At a press conference with State House correspondents in Abuja, Abati further asserted that Sanusi’s sins also included refusal to comply with Public Procurement Act in the procurement practices of the CBN.
In line with a presidential directive, Sanusi has since handed over to Dr Sarah Alade, who will operate as the acting CBN governor. But as Alade stepped into Sanusi’s shoes in an acting capacity, the President curiously nominated the Zenith Bank Managing Director and Chief Executive, Godwin Emefiele, to replace Sanusi. Emefiele’s confirmation is before the Senate.
The allegations against Sanusi are grave. Had he been truly proved guilty in a fair process, he would have deserved nothing less than an outright removal. But the question is why were the allegations which relate to his activities over the last five years left dormant till now? Why did the Presidency have to wait until Sanusi raised issues about corruption in NNPC before the allegations were made?
Given the fact that the embattled CBN governor had only three months to the end of his tenure, I think he should have been allowed to stay on. Mr President’s action could easily be interpreted to mean that he is getting back at Sanusi because of his latest pronouncements on the issue of non-remittance of funds by the NNPC into the federation account. The contrary is difficult to prove in the circumstances.
A proper appraisal of the situation will lead any reasonable person to the inevitable conclusion that the action will definitely have negative implications for the nation’s economy if left to stand. Given the sanctity of the CBN as an institution, the confidence of investors in the economy will be affected negatively. This development is indeed worrisome because what investors desire to see is good governance underscored by business-friendly economic reforms. Hence, decisions of this nature are not in any way confidence inspiring.
My dilemma was heightened when I discovered that the CBN Act (2007) does not empower the President to suspend the CBN governor. The clear provision in the Act is for his removal. And the Act provides that he cannot be removed except by the express consent of two-third majority members of the Senate. Where then does the President derive his powers to suspend the governor? Again, if Sanusu’s suspension is not an outright removal through the back door, why has Emefiele been nominated to replace him? The truth is that the President is in clear breach of Section II (7) of the CBN Act.
Sanusi may have had his own fault while in office. As a whistle blower, he might have blown the whistle out of proportion by failing to be accurate in the figures purported to have been misappropriated. But without him, would Nigerians have known that NNPC was not remitting billions of dollars to the federation account? The actual amount is immaterial. Some of the amount he quoted to have been missing, have not been reconciled uptil date.
It is hard for the Presidency to convince anyone that Sanusi’s suspension is not politically-motivated. The reason is that the timing of the decision was curious and he was neither given a just treatment nor fair hearing. Why has the suspension come at a time when he had made allegations of missing funds which remain unresolved?
I am particularly concerned that the allegation of financial recklessness by the Financial Reporting Council , upon which the former CBN governor was suspended, failed to indicate whether he was given fair hearing in line with our constitution. Sanusi’s suspension is sad and contemptuous of a man who worked assiduously and courageously.
Sanusi might have undermined the office of the President on a couple of occasions especially by the way he talked. But I wish President Jonathan and his advisers would be more tactful and strategic in their actions. Most especially they should make the masses their focus not politicians with vested interest.
Though the President acted unilaterally and in total disregard for the law, the soul of the matter is not whether Mr. President is wrong or right but whether an approach that undermines the personal interest of the President to that of the nation would have been more meaningful and just to all Nigerians.
Whether Nigerians choose to celebrate the President’s action or condemn it, the outcome should be our primary concerns.
Arnold Alalibo
Opinion
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Opinion
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Opinion
FG’s Transport Support And Rivers Workers
The Federal Government’s approval of a N70,000 monthly transport intervention for public service workers for six months, beginning in November 2026, offers hope to employees struggling with the rising cost of living. The agreement with the Nigeria Labour Congress (NLC), reached at a conciliation meeting in Abuja on October 27, is intended to cushion transport costs and ease pressure on workers’ incomes. But for public servants in Rivers State, it raises a familiar question: will the State Government key into the intervention and ensure that its workers benefit? The agreement provides for N70,000 monthly across all levels, for six months. The Federal Government also approved peculiar allowance arrears effective from May 1, 2026, to be paid in three equal instalments beginning in November.
The parties agreed to reconvene after one month to assess implementation. Ultimately, the value of these resolutions will be measured not by announcements but by whether eligible workers receive the money. Transport costs consume a substantial share of many civil servants’ earnings before they can meet household needs. Support for commuting is therefore not a luxury or political favour; it is temporary assistance to help workers remain at their jobs without sinking further into hardship. For lower-paid employees, transport costs can turn modest salaries into a daily exercise in difficult choices and sacrifice.
The agreement also urges State and Local Governments to participate and unions to press for implementation. The federal agreement does not automatically guarantee that every State and Local Government employee will receive the support. State authorities must clarify how it will apply to their workforce, make the necessary arrangements and publish a payment timetable. Rivers State must approach the arrangement with urgency and transparency. The Government should State whether it will implement the intervention and when payments will begin. Any administrative or financial question should be addressed promptly with organised labour, not allowed to become excuses for delay.
The concern is sharpened by the earlier N35,000 monthly wage award introduced by the Federal Government in 2023 after petrol subsidy removal. It was intended as temporary relief pending a new national minimum wage. While several States negotiated and paid wage awards or related sums, implementation nationwide was uneven. Reports in 2024 indicated that many States had failed to pay the federal award, while others provided different amounts. In Rivers, labour and media reports raised concerns about implementation of the N35,000 award for State workers, amid separate announcements and arrangements concerning Local Government employees.
The wage award was meant to ease the immediate effects of subsidy removal, yet workers faced uncertainty over whether the promised relief would reach them. In February 2024, the Rivers State Government announced approval of the N35,000 award for local government workers, but subsequent reports showed that implementation across worker categories remained a concern. The lesson is clear: approval and implementation are not the same. A declaration at a meeting offers little comfort to a worker whose account does not reflect the promised payment. For workers who travel to their offices daily, the implications of delayed support are significant. Transportation expenses compete with food, rent, school fees, healthcare and other essential household needs.
As fares rise, employees may be forced to reduce spending on necessities or borrow to sustain their families. A timely transport intervention would therefore provide practical relief and demonstrate that government understands the economic pressures confronting its workforce. Its temporary nature makes prompt implementation even more important. It is fair to acknowledge that this transport intervention is a new agreement and that its administrative details may require clarification. Rivers State should not be condemned in advance for a failure that has not occurred. Nevertheless, the earlier experience gives workers legitimate grounds to seek assurances before the November commencement date. The State should avoid allowing uncertainty to persist until workers begin asking why the promised assistance has not arrived.
The NLC and unions in Rivers State should engage the State Government immediately and seek a written commitment, an implementation plan and a process for reporting missed payments. If clarification from the Federal Government is needed, the State should seek it without abandoning the goal of providing relief. Labour leaders must also keep members informed about progress and insist that any agreed arrangements are applied fairly and transparently. The Rivers State Government should treat this intervention as an opportunity to rebuild confidence. Timely support would show that workers’ welfare is more than a talking point and that the State recognises the economic realities confronting its employees.
Silence, delay or selective implementation, by contrast, would revive frustration over earlier relief measures and weaken trust between government and labour. Every month lost to administrative delay leaves workers facing the same transport burden without the intended assistance. The State should consult labour, publish arrangements and pay eligible workers on time. Rivers workers should not have to wonder whether federal relief will reach them. The Federal Government has announced the support; now the State must make its position clear. We hope the N70,000 monthly transport intervention will not follow the troubling path of the earlier wage award. Rivers State should learn from that experience and ensure that this time, relief is not merely promised but delivered.
Sylvia ThankGod-Amadi
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