President Bola Tinubu (left) with Sanusi Lamido Sanusi
Former Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi, has advised President Bola Tinubu to do things differently and relinquish the role of substantive Petroleum Minister in the country.
The President should not concurrently hold the position of Minister of Petroleum, Sanusi said in an address delivered at The Bank Directors Summit at Transcorp Hilton, Abuja. He also advocated the need for transparency in the oil and gas sector, calling for a comprehensive audit of the Nigerian National Petroleum Company Limited (NNPCL).
He linked this request to his own controversial dismissal from the CBN in 2014, implying that his push for accountability in the oil and gas sector played a significant role in his removal. According to him, the significance of entities like the Asset Management Corporation of Nigeria (AMCON) and the Nigeria Deposit Insurance Corporation (NDIC), asserting their need to persist until banks settle their financial obligations within the system.
“The Asset Management Corporation of Nigeria (AMCON) and the Nigeria Deposit Insurance Corporation (NDIC) must remain until banks get together and pay up what they owe the system,” Sanusi added.
Sanusi emphasized the need for the banking sector to rebuild public trust, addressing the prevalent trust deficit. He firmly advocated against any amendments to the CBN Act, aiming to maintain the apex bank’s independence from political influences.
