The Financial Reporting Council of Nigeria alleged that the Central Bank of Nigeria under the leadership of the suspended governor, Mr. Lamido Sanusi, spent N500bn as intervention fund in various sectors without obtaining the approval of its Board or the Federal Executive Council.
It also alleged at a sitting in Lagos in which the suspended governor was scheduled to appear that the bank under his watch spent N10bn to renovate five palaces of traditional rulers in the country under its education intervention projects.
Why I call this a game is because Sanusi, refused to appear before the panel, which is currently investigating the activities of the CBN under his watch. Sanusi, said the invitation was in bad faith, and he has also sued the FRC.
Now I have to ask : Why didn’t the FRC have this panel before the suspension to hear Sanusi out?
I feel the panel should have held before Sanusi was suspended from office.
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