Suspended Governor of the Central Bank of Nigeria, Mallam Sanusi Lamido, turned down an invitation to appear before the Financial Reporting Council of Nigeria on Thursday. The panel in its investigation of the apex bank’s activities under Sanusi’s watch has alleged that the Central Bank spent N500bn as intervention fund in various sectors without obtaining the approval of its Board or the Federal Executive Council. It also accused the CBN of acquiring shares in the International Islamic Liquidity Management Corporation without approval from the board.
The Council at a sitting in Lagos alleged that during Sanusi’s tenure, the apex bank spent N10bn to renovate five palaces of traditional rulers in the country under its education intervention projects. This allegation was however denied by Alhaji Barau and Mr. Lemo who attended the hearing.
Those invited to the hearing were: the deputy governors Mr. Kingsley Moghalu, Alhaji Suleiman Barau, Mr. Babatunde Lemo (retired last month) and the acting governor, Dr. Sarah Alade.
Others include: the Managing Director, Bank of Industry, Ms. Evelyn Oputu; Mr. Babatunde Dayo and Mr. Gabriel Okpeh.
The invitation was honoured by all the above except Sanusi and Alade.
The suspended Governor however sent a letter through his lawyer the investigation as a subjudice. For this reason, the sitting of the panel was later.
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