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Monday, 3 March 2014

BOOK written BY Jonathan E. Ifeanyi and reviewed by Barrister Chinweikpe Iwuchukwu. Esq

                                                                    BOOK REVIEW
                                 Title:                                                             The Campus Genius
                                 Author:                                                         Jonathan E. Ifeanyi
                                 Publisher:                                                    Kraft Books Limited
                                 Classification:                                             Fiction
                                 Price:                                                            N500
                                 Reviewer:                                                    Chinweikpe M. Iwuchukwu, Esq.

Nigerian writers who trudge through the tedious road of writing books—whether textbooks, fiction, non-fiction, short stories, etc—may not find this venture very lucrative these days for many reasons, such as the evil called piracy, declining reading culture, state of the economy, negative attitude of the government towards education, bad orientation, and so on.

Nonetheless, writers will be fulfilling their noble tasks by forging ahead—despite the challenges—to educate and entertain the present and future generations, a responsibility which our self-centred crop of leaders have neglected for so long.

In this admixture of fiction and non-fiction, entitled The Campus Genius, a book which is itself a testament to genius, the author, Jonathan Ifeanyi, in whom the word ‘Dr’ would make a better and beautiful prefix, has certainly left behind authentic ‘footprints on the sand of time.’ He has thrown a ball in the field of life, nay, the decadent fictitious society of Libenia—which enjoys the same onomatopoeic quality with Nigeria. The ball is a piece of didacticism—a call for moral rectitude as many ills of the contemporary society such as corruption, vandalism, greed, brigandage, cultism, kidnapping, murder, moral cataclysm, violence, shooting, mass election rigging, are exposed in the story. 
                                                                 
                                                                                Setting
The setting of the novel is a fictitious West African country named Libenia. Two major cities in Libenia that are prominent in the novel are Jork and Bomby. Libenian currency is Liber. Libenia is a very corrupt country bereft of ideas that can ensure good governance, which can be likened to our country Nigeria. Formerly colonized by the British, Libenia represents a typical example of a contemporary West African country whose culture has been swept away by the powerful influence of Western civilization. Thus we are told in the novel that, “a foreign visitor to the city can only recognize the area as an African soil only by its physical features”. Here there is bad government, there is crime and there is corruption. Libenia is also a secular country where religion is relegated to the margins of influence and God is being treated in practice as if He does not really exist.  Thus we are told that, in Libenia “all religions are to the people equally true, to the government equally useful and to the philosophers equally false”.  Although there are many religions in Libenia, they are simply as good as dead. The religious leaders of the day are presented as hypocrites who commercialize religion and use it to make merchandise of the people. They are mere business men.  And that is why we are told that, although Libenia has the largest number of churches in Africa, it is one of the most corrupt in the world. Thus youths brought up in Libenia often lack morality and do resort to all kinds of violent crimes. In fact, more than 80 percent of Libenian youths are gangsters. Many of them are rubbers, others belong to secret societies that have links with powerful politicians who simply use them to get things done.

The paradoxes worthy of note in the first chapter of the story is that a report has it that Libenians are the most corrupt people in the world and yet the happiest people in the world.

Again, the country has the largest number of churches in Africa, yet it is considered third on the list of the most corrupt countries in the world.

The conclusion, any reasonable person would reach, is that Author-Jonathan is indirectly calling Nigeria Libenia, because an exact imagery of the former is placed for the latter. And I venture to say that ‘he who sees nine mad men completes the figure ten.’ It is in this ugly set-up that the narrator (or the author) was ‘brought up.’
                                                                The  Plot of the Novel
The story revolves around the central character Michael Tommy. Tommy is born into a prosperous and distinguished family of Barrister Thomas Michael, in the city of Jork, in Western Libenia, on the 15th of December, 1969. He has only a sister named Clare, born seven years before him in the United States where their parents once lived. Tommy’s father is a lawyer who is said to be one of the corrupt lawyers in the city of Jork.  As a child Tommy is kidnapped by some unknown gang and his parents are demanded to pay the sum of 50, 000 Liber (Libenian currency) as a ransom before he is released. Thus Libenia may rightly be described as a very dangerous zone. Two prominent gangsters in the city of Jork are Donald Onora (popularly known as Don the killer) and Ronny Alonsu. After kidnapping Ronny’s father and demanding some money as a ransom, Don the killer is later killed by Ronny in retaliation. Later, this event leads to enmity between the brothers of the two gangsters, Kenneth Onora (Ken) and Timileyo Alonsu (Timi). Ken is the brother of Don the Killer while Timi, a friend of the Protagonist Michael Tommy, is the brother of Ronny Alonsu. Ken and Timi attends the same secondary school and also the same University of Jork. Ken has been looking for a way of retaliating the killing of his elder brother Donald Onora by Ronny, Timi’s brother, and he eventually retaliates by murdering Timi in the University of Jork, being a cultist. Michael Tommy reads this in a newspaper while he is returning from London to Libenia, and his heart is simply broken for losing his best friend. 
                                                              
                                                               Characters in the Novel
1. Michael Tommy: The novel centres on Michael Tommy, the protagonist and narrator of the story. Here Tommy tells us the story of his life, how he was brought up and the kind of country in which he was born. He is born into a prosperous and distinguished family of Barrister Thomas Michael, in the city of Jork in Western Libenia. As a child, Tommy is kidnapped by some unknown gang and his parents are demanded to pay the sum of 50,000 Liber as a ransom before he is released.
Although Jork, the commercial nerve centre of Libenia, is a very corrupt city with a large number of corrupt youths, Michael Tommy grows up here to become a very responsible young man. Tommy is a very intelligent young man who is very committed to intellectual development. His intelligence begins to manifest right from his days in secondary school. After the completion of his secondary education, Tommy is admitted a year later to the famous St Gregory Grammar School, the most exclusive boys’ school in Libenia. While in this school, Tommy discovers his talents in the arts and humanities and decides to pursue them so vigorously. He later wins the Boarder Prize, for which he was given a book entitled The Life of James Sullivan, written by Richard Davies. After reading the book, Tommy is thrilled by the marvelous story of Sullivan’s successful life and decides to imitate him. Sullivan being a writer who graduated in Classics from the University of Oxford, Tommy makes up his mind that after completing his secondary education, he would not attend any other university but proceed to Oxford, where he would read Classics—the course which Sullivan studied.

However, Tommy’s father stands as a very big obstacle towards his realization of this very dream. His father Thomas Michael represents a typical example of a Nigerian parent who would want his children to study courses such as Medicine, Law, Engineering, and so on, but despises courses in the arts and humanities which are often termed ‘Not Lucrative.’ Thomas Michael is a lawyer who wants his son to study Law just like himself, but Tommy does not want this.

Thus, after completing his secondary education, Tommy and Timi his best friend and secondary school classmate, attempt to leave their country, Libenia for Europe aboard a ship. Timi is Tommy’s closest friend, who lives with his parents in the city of Bomby. The aim of the two boys is to get to Europe and attend a university there. Tommy wants to study Classics against his parents’ wish for him to study Law, while Timi wants to study Physics against his parents’ wish for him to study Accountancy. Unfortunately, they cannot get to Europe as they experience a shipwreck –a very painful experience to the two boys.
Chapters four and five of the novel present events which show that Tommy has been destined to attend the University of Jork. Tommy enters the University of Jork at the age of 25, and graduates with a B.A after four years of study. In this university, Tommy’s intelligence simply manifests. Here also Tommy and his classmate Jimmy, together with a few students from other faculties, found a literary society named The Fraternity of Scholars, which is later converted into a cult by bad students who join the organization after their graduation. This can be likened to the societies which Soyinka and others founded at the University of Ibadan in the 50s “with a good intention” but which later were converted into cults.

Tommy’s dream of travelling abroad to read Classics comes to fruition when he wins an award from the British Society of Literary Studies with the publication of his first novel The Trials of Chumo. The award provides the funds for Tommy’s travel to London for his Masters and PhD programmes. Chapters six, seven and eight of the novel explains in detail Tommy’s experiences in London and Oxford under the tutelage of Prof. John Kenny Halton.

However, after completing his programmes abroad, Tommy’s joy of fulfillment is mixed with deep sorrow by the tragic death of his best friend, Timi, who has been admitted to the University of Jork in the very year in which Tommy graduates from there. Timi, his best friend, is killed by cultists—masterminded by his old enemy Kenneth Onora (Ken). Tommy reads this in an old Libenian newspaper just as he is returning from London to Libenia, his heart completely broken!

2. Timileyo Alonsu (Timi): Timileyo Alonsu, the best friend of Michael Tommy, is the second important character in the story. We are told in the novel that he shares many things in common with his friend Michael Tommy. They were born in the same year and, like Tommy, Timi wants to study Physics in a foreign university against his parents’ wish for him to study Accountancy in a university in their country. But unlike Tommy, who eventually prevails over his parents, Timi eventually has no option than to study Accountancy in a university in their country, which his parents choose for him. At the University of Jork, Timi is unfortunate as he falls victim to the cultists, who brutally murders him. His death causes immense sorrow to his best friend Michael Tommy.
                                                            
                                                            Other Minor Characters
1. Barrister Thomas Michael: Barrister Thomas Michael is the father of the protagonist Michael Tommy. He is a lawyer who is regarded in Libenia as corrupt. He represents a typical example of a Nigerian parent who would want his child to study courses such as Medicine, Law, Engineering, and so on, which are believed to be “lucrative”, but despises courses in the arts and humanities which are believed to be “unmarketable”. However, his son disagrees with him and eventually studies Classics in the university, a course through which he develops his talent as a writer.

2. Lucia Michael: Lucia Michael is the mother of Michael Tommy. She is one of the very virtuous women in the city of Jork. She is certainly responsible for Tommy’s moral up-bringing, despite the high rate of moral decadence in Libenia.
                                                                         Themes/Conclusion
A number of themes could be deciphered from the entire story. First, is the clarion call by the narrator via his message for the young people to exfoliate; to develop their innate talents by reading and reading as a way to develop their intellects.
               
The second is a loud call for social change and transmutation. Howsoever bad the system is, and howsoever rotten it appears, by constant efforts to change, the change itself will come one day.

Somewhat more important than any other subject explored in the novel is the very cankerworm and nemesis of our time called cultism. It is there in the wider society, as well as on the campuses. The youths are challenged to fight it by engaging in some scholarly ventures and societies as exemplified by the one founded by the narrator and his friends, known as The Fraternity of Scholars.   

Generally, the story calls for caution on the excesses of the youths and inspires anyone who cares, that howsoever bad a situation appears, with resilience and trust in God, a winner shall emerge.




Owerri airport will boost economic activities in the South East-Sam Ortom

Owerri airport will boost economic activities in the South East-Sam Ortom
BY ZAINAB JUNAID

The Minister of State, Trade and Investments and supervising Minister of Aviation, Dr. Samuel Ortom has said that the remodeled passenger terminal of the Sam Mbakwe International Cargo Airport, Owerri airport will boost economic activities in the South East.
Dr. Sam made this statement while inspecting facilities at the airport on Saturday March 1, 2014.
In a release made by the GM Corporate Communications of Federal Airport Authority of Nigeria, FAAN, Yakubu Dati, the supervising minister who expressed satisfaction with the work done at the airport was accompanied on the inspection tour by the supervising Minister of Foreign Affairs, Prof.Viola Onwuliri, Special Assistant to the President, Dr. Sylvester Monye, the Permanent Secretary, Federal Ministry of Aviation, Mrs. Jamila Shu’ara and the Managing Director of the Federal Airports Authority of Nigeria, Mr. George Uriesi.
According to Dati, the tour took the inspection team to the remodeled passenger terminal, the ongoing apron expansion project and the new cargo terminal of the airport. The two ministers at separate comments during the inspection, praised President Jonathan for envisioning the transformation agenda in the aviation industry which has led to undeniable positive developments in the industry, including the Airport Remodeling Project.


Dati  added that “The remodeled passenger terminal in Owerri was expanded to double the size of the old terminal and has a full complement of the ultra modern terminal facilities, including conveyor belts, check-in counters, offices, toilets and shops.” 

Friday, 21 February 2014

EXCLUSIVE: Revealed by Premium Times: Jonathan’s First Query to CBN Governor, Sanusi By: Premium times

The face-off between President Jonathan and Mr. Sanusi actually began in 2012 after Mr. Sanusi granted an interview considered critical of the administration, according to premiumtimesng.com report
Contrary to widespread believe that Central Bank Governor, Sanusi Lamido Sanusi, first ran into trouble with President Goodluck Jonathan late last year when he wrote a letter accusing the Nigerian National Petroleum Corporation of diverting N8 trillion of Nigeria’s oil revenue, PREMIUM TIMES can report today that Mr. Sanusi first incurred the wrath of the presidency in 2012 when he granted a newspaper interview criticizing the administration’s handling of the Boko Haram insurgency.
Mr. Sanusi had granted an interview to the Financial Times of London in 2012 blaming widespread poverty in the North for Boko Haram’s success in recruiting members. That interview, this newspaper can report, terribly irked Mr. Jonathan and earned Mr. Sanusi a query from the presidency.
Investigations by PREMIUM TIMES showed that not long after it published Mr. Sansui’s interview, the Financial Times did an analysis on Nigeria’s economy and passed a damning verdict on the Federal Government.
Embarrassed by both the interview and the analysis of the London-based newspaper, President Jonathan ordered the former National Security Adviser, NSA, late Owoye Andrew Azazi, to query Mr. Sanusi.
During the controversial interview, the CBN governor had among other things, criticised the uneven distribution of wealth in the country, saying some parts of Nigeria were by far richer than others.
Mr. Sanusi had while fielding questions said, “There is clearly a direct link between the very uneven nature of distribution of resources and the rising level of violence.
“When you look at the figures and look at the size of the population in the north, you can see that there is a structural imbalance of enormous proportions. Those states simply do not have enough money to meet basic needs while some states have too much money.
“The imbalance is so stark because the state still depends on oil for more than 80 per cent of its revenues.”
However, in its analysis of Mr. Sanusi’s interview, the Financial Times on January 27, 2012 wrote: “Nigeria has made little headway raising taxes for example from agriculture, which accounts for 42 per cent of GDP. Northern Nigeria’s economy has traditionally depended on the government more than the south.
“Many of the industries set up as part of earlier efforts to promote national balance have gone bust or been sold off during a decade of liberal market reforms, power shortages and infrastructure collapse.”
The analysis continued, “According to official figures, the leading oil producing state, Rivers, received N1, 053 billion between 1999 and 2008 in federal allocations.
“By contrast the North-eastern states of Yobe and Borno, where the Boko Haram sect was created, received N175bn and N213bn respectively. Broken down on a per capita basis, the contrast is even starker.
In 2008 the 18.97m people who lived in the six states in the north-east received on average N1, 156 per person.”
But a few days after the analysis was published and following presidential directive, Mr. Azazi issued a query to Mr. Sanusi, dated February 2, 2012.
A copy of the query which was exclusively obtained by PREMIUM TIMES, referenced: NSA/A/229/C and titled, “Recent Interview with Financial Times,” was copied to the Director General, Department of State Services, Ita Ekpenyong.
Among other things, the NSA stated that the query was necessitated by statements credited to Mr. Sanus during an interview with the London-based newspaper.
The query reads, “In the interview, you were alleged to have made statements to the following effects: That, the uneven pattern of distribution of resources is directly linked to the rising level of violence in Nigeria.
“That, it is now necessary to focus funds on regenerating other regions of Nigeria; other than the Niger Delta. That, additional federal funds allocation to the Niger delta states has created ‘a structural imbalance of enormous proportions,’ with some states not having enough money and others having too much.
“That, when the theft of oil by profiteers is considered, this imbalance between the oil producing states of the South-South (or Niger Delta states) and states in the North is compounded.”
The query also drew Mr. Sanusi’s attention to his statement that the derivation funds paid to oil producing states, above the normal federal allocations created new disparity in state resource, fostered resentment and encouraged terrorism.
The CBN governor was also reminded that his assertions directly attributed the activities of Boko Haram sect to the revenue allocation formula used by the government.
The query continued, “Not only is there no empirical evidence to support such a statement, conventional wisdom in Nigeria refutes that assertion. Experts obviously have provided numerous explanations for the emergence of Boko Haram activities and the general consensus is that there are no silver bullets.
“Your statements to the Financial Times do not only have no basis in fact but they are divisive, inflammatory, inciting and inappropriate of a senior officer of the Federal Government whose responsibility includes national stability and state continuity.
“This statement has already caused a lot of angst among the populace and raised significant questions as to your intent and motives. These statements bring disrepute to the administration and current and past leadership of Nigeria.
“While I understand your right to free speech and some of the independence your office enjoys, I must also caution you that as an officer of the Government of Nigeria and one entrusted to promote state stability, your utterances through this interview are not in the interest of Nigeria’s national security.
“I encourage you to explore and pursue approaches that will ameliorate the problems that your statements have caused, including a retraction or clarifying statements, possibly through the same medium of interview.”
PREMIUM TIMES learnt that Mr. Sanusi failed to respond to the query, saying he was not answerable to Mr. Azazi and that he would only respond to a direct query from President Jonathan.
Presidency sources say the President did not forgive Mr. Sanusi ever since and had waited patiently for an opportunity to unload him from the administration.

Zenith Bank tops most traded shares as Bank Chief is nominated Central Bank Governor, Premiumtimesng says

The Managing Director of Zenith Bank, Godwin Emefiele, is to be the next Governor of the Central Bank of Nigeria.
Zenith Bank, Thursday, was the most traded shares on the Nigerian Stock Exchange after the bank’s boss was nominated as the next Central Bank Governor.
Nigeria’s President, Goodluck Jonathan, Thursday, named the Managing Director of Zenith Bank, Godwin Emefiele, as the next Governor of the Central Bank of Nigeria.
In a letter addressed to the Senate President, David Mark, and read on the floor of the Senate, the president, who urged the parliament to treat the nomination with dispatch, said Mr. Emefiele would replace suspended Lamido Sanusi, whose tenure is billed to expire in June.
Perhaps responding to Mr. Emefiele’s nomination, Zenith Bank was the toast of investors, accounting for 69.05 million shares valued at N1.37 billion.
Access Bank came second on the activity chart with 57.54 million shares worth N492.76 million, while FBN Holdings sold 37.62 million shares valued at N459.12 million. UBA accounted for 28.61 million shares worth N201.79 million, while Skye Bank recorded a turnover of 26.88 million shares valued at N90.82 million.
Guinness led the losers’ chart, dropping N8.90 to close at N171.10 per share. It was followed by Nigerian Breweries with a loss of N4.89, to close at N146.61 per share. Unilever went down by N2 to close at N48, while GTBank and Oando declined by N1.29 each, to close at N24.62 and N18.96 per share, respectively.
Dangote Cement recorded the highest gain for the day, appreciating by N1.92 to close at N239.92 per share. PZ Cussons trailed with a gain of N1.86 to close at N39.12, while International Breweries appreciated by 35k to close at N29.50 per share. NAHCO gained 17k to close at N5.87, while Air Services grew by 11k to close at N2.47 per share.
Investors on the Nigerian Stock Exchange, on Thursday bought 483.545 million shares worth N4.85 billion in 4,539 deals.
This was against a turnover of 303.346 million shares worth N3.8 billion traded by investors in 5,911 deals on Wednesday.
Market capitalisation lost N186 billion or 1.45 per cent to close at N12.486 trillion, against the N12.654 trillion recorded on Wednesday.
The NSE All-Share Index lost 580.89 points or 1.47 per cent to close at 38,816.19, compared with the 39,397.19 achieved on Wednesday.
Market analysts have attributed the lull in the market to profit taking by investors and the economic instability in the financial sector.

An aviation expert clamors for an entrepreneur as a minister....

As aviation stakeholders clamored for an expert to be a new minister, an industry consultant and the CEO of Belujane Konsult, Chris Aligbe, said that for the aviation to development and grow as a viable economic entity, it is not necessary that the Minister of Aviation should be aviation professional.
Aligbe noted that the Sector needs a person that can function like an entrepreneur who has business sense to transform the airports and make them sources of generating wealth, adding that the places where professionals are needed are the aviation agencies.
“I totally agree that professionals should head the Nigerian Civil Aviation Authority (NCAA), the Federal Airports Authority of Nigeria (FAAN) and the other agencies. But a Minister of Aviation is a person that should know how to grow the non-aeronautical revenue of the airports; somebody that will bring business into the airports so that the sector can contribute to the nation’s GDP. In some countries non aeronautical revenue generated by their airports is about 70 per cent compared to aeronautical revenue,” Aligbe said.
He recalled that in the defunct Nigerian Airways Limited (NAL), the managing directors that turned the airline round were non-aviation professionals, adding that pilots, engineers and others in the industry hold tight to their skills and are efficient in their fields but may not be efficient in transforming the industry into a viable economic resource, which is the trend in the rest of the world.
However, Last Saturday, aviation stakeholders consisting of the Airline Operators of Nigeria ( AON), Aviation Roundtable, and professional unions called on President Goodluck Jonathan to ensure he appoints a professional with technical background and interest of the sector as minister of aviation.
The stakeholders in a press conference held in Lagos said they had written a letter to Jonathan to express the seriousness of their agitation, which they said was non negotiable.
While addressing journalists, the convener of the meeting, the chairman of Airline Operators of Nigeria, Captain Nogie Meggison, said there could be no better time to appoint an aviation professional as Minister than now, given the enormity of challenges in the sector.

“You Cannot Suspend The Truth” – Sanusi Tells Jonathan [Read Text of 1st Interview After Suspension]

“You Cannot Suspend The Truth” – Sanusi Tells Jonathan [Read Text of 1st Interview After Suspension]

For the sake of those with slow Internet and date bundle issues, I have transcribed the major parts of suspended Central Bank Governor, Sanusi Lamido Sanusi’s first interview after his suspension. He spoke to CNBC Africa. You can read the text below.

On whether he was on notice with respect to his suspension: Well, I have been told by my office that a letter was received. As you know, I flew in this morning to Niamey along with other Governors of West African Central Banks to meet with the President of Niger and President of Ghana…Fortunately, I came in with my VP Sarah Alade whom I have been asked to hand over to. I have left the meeting to hand over to her. I have just met the Nigerian Ambassador to Niger who confirmed to me that the President asked him to inform me of the decision.

On accusations of “various acts of financial misconduct and recklessness” he said: I don’t know what they are talking about. When I come back, I will see what those allegations are…I don’t think there is any issue raised that has not been raised before. We all know what this is about. This is about consequences for decisions I have taken… This is something that is long overdue. I am surprised it took them so long.

On concerns for the market: Basically, my concern is for the safety of the market…I have had a wonderful time in service to my country. I would not want to see all of my work unraveled. No individual is worth it.

On whether his suspension is politically motivated: It is not for me to comment. I am not sure that erm… I think the answer to that is obvious…there is a legal question of whether the president has the authority to suspend the Governor and whether suspension is not removal. It will be helpful to establish the principles by court.

Even if I challenge it, I will not go back to the job. Even if I challenge it successfully, I will not go back to it. I think it will be in the interest of the institution for the courts to establish once and for all if the president has the powers to do this… If it is not challenged, the next Central Bank Governor cannot be independent with fear of being suspended by a politician. I do plan to have the courts confirm if indeed that authority exists and I will challenge it.

On his legacy: He pointed out Low inflation. Stable exchange rate. Reformed and well governed banking system, robust reserve, independent central bank, financial inclusion, systems reform…history will record this, nothing is going to change that. You can suspend an individual, you can’t suspend the truth. And this is all about these concerns around oil revenues, around decadence in the oil sector and if this is going to bring about the $20 billion then that’s fine.

Sanusi Lamido also emphasized the fact that he trusted the competence of his successor Sarah Alade and the other deputy governors to continue his good work. His grouse seemed to be on the legality of his suspension and the future independence of the CBN Governor. He insisted he’d go to the courts to contest the arbitrariness of his suspension, citing the fact that the President himself did not sign his suspension letter as it was signed by the Secretary to the Federal Government. He finished by saying he had no regrets or ill feelings towards anyone on the matter.

“You Cannot Suspend The Truth” – Sanusi Tells Jonathan [Read Text of 1st Interview After Suspension]

“You Cannot Suspend The Truth” – Sanusi Tells Jonathan [Read Text of 1st Interview After Suspension]

For the sake of those with slow Internet and date bundle issues, I have transcribed the major parts of suspended Central Bank Governor, Sanusi Lamido Sanusi’s first interview after his suspension. He spoke to CNBC Africa. You can read the text below.

On whether he was on notice with respect to his suspension: Well, I have been told by my office that a letter was received. As you know, I flew in this morning to Niamey along with other Governors of West African Central Banks to meet with the President of Niger and President of Ghana…Fortunately, I came in with my VP Sarah Alade whom I have been asked to hand over to. I have left the meeting to hand over to her. I have just met the Nigerian Ambassador to Niger who confirmed to me that the President asked him to inform me of the decision.

On accusations of “various acts of financial misconduct and recklessness” he said: I don’t know what they are talking about. When I come back, I will see what those allegations are…I don’t think there is any issue raised that has not been raised before. We all know what this is about. This is about consequences for decisions I have taken… This is something that is long overdue. I am surprised it took them so long.

On concerns for the market: Basically, my concern is for the safety of the market…I have had a wonderful time in service to my country. I would not want to see all of my work unraveled. No individual is worth it.

On whether his suspension is politically motivated: It is not for me to comment. I am not sure that erm… I think the answer to that is obvious…there is a legal question of whether the president has the authority to suspend the Governor and whether suspension is not removal. It will be helpful to establish the principles by court.

Even if I challenge it, I will not go back to the job. Even if I challenge it successfully, I will not go back to it. I think it will be in the interest of the institution for the courts to establish once and for all if the president has the powers to do this… If it is not challenged, the next Central Bank Governor cannot be independent with fear of being suspended by a politician. I do plan to have the courts confirm if indeed that authority exists and I will challenge it.

On his legacy: He pointed out Low inflation. Stable exchange rate. Reformed and well governed banking system, robust reserve, independent central bank, financial inclusion, systems reform…history will record this, nothing is going to change that. You can suspend an individual, you can’t suspend the truth. And this is all about these concerns around oil revenues, around decadence in the oil sector and if this is going to bring about the $20 billion then that’s fine.

Sanusi Lamido also emphasized the fact that he trusted the competence of his successor Sarah Alade and the other deputy governors to continue his good work. His grouse seemed to be on the legality of his suspension and the future independence of the CBN Governor. He insisted he’d go to the courts to contest the arbitrariness of his suspension, citing the fact that the President himself did not sign his suspension letter as it was signed by the Secretary to the Federal Government. He finished by saying he had no regrets or ill feelings towards anyone on the matter.