THE "conservative" jacket and lean frame of Mallam Sanusi Lamido Sanusi when, in January last year, he got the baton to govern the Central Bank of Nigeria (CBN), presumably deceived many who knew him not, that he might not have the liver to do the necessary on the important assignment.
(http://thenationonlineng.net/web3/thumbnail.php?file=CBN_on_Banks_697458685.jpg&size=article_medium)
Akingbola, Sanusi and Ibru
Indeed, not a few in their wildest imagination, would believe that his frame encases a steely personality that could stand on his feet and beat his chest to dare the bayonets of even the Goliaths of this world on a matter of principle. His pre-appointment interview with the Senate turned a major eye-opener that unveiled him.
No, he is not the kind of "job seeker" that would quiver and lose his head at the "delicate" session with the powerful lawmakers, all in a desperate bid to clinch the plum job. Rather, to the shock of many Nigerians, he bluntly condemned the government's much-touted seven-point agenda, advising that it should be pruned down to two, at most, for effectual actualisation.
Quite many had wondered what job was there for him to do in the banking sector which, to them, was hale and hearty. But they knew better when, in a short while, the Kano Prince exposed the trouble in the sector and ultimately turned out to be the proverbial broom that cleansed the Augean Stable in the sector in every sense of it.
It would amount to day-dreaming for the managing director of any bank to think he can spend eternity in office now. The banking czar pegged it to a maximum of 10 years of five years per tenure.
When news hunters were about looking elsewhere for scoops, he stirred up a widely lauded controversy. It was an eyeball-to-eyeball stand-off with the National Assembly, which was precipitated by his revelation that the National Assembly cornered a mind-boggling share of the nation's total overhead. He went ahead to warn the nation of a likely crisis that could ensue if such money was not ploughed into capital projects that could generate revenue for the bleeding nation.
But to the National Assembly, he was simply acting the rabble-rouser, feeding the nation with nothing but wrong information. Trust Sanusi The Mallam; he would not budge. Rather, he firmly stood his ground to the extent that at a point, he threatened to resign, saying that "the CBN is not the end of my life."
Now, a new year is here. Although whatever he has up his sleeves still remains under wraps, it is, perhaps indubitable that he is a man to watch in the vital sector as the year rolls by.
One of the major events to watch for in the year is the famed trial of some bank chiefs. What was widely seen as an earthquake in the nation's banking sector was recorded mid-last year, resulting in the sacking of six chief executives of commercial banks. The Central Bank of Nigeria (CBN), in effecting the sack of the bank chiefs, accused them of sundry financial malpractices including granting of unsecured and under secured loans, and abuse of office.
Those affected included Mrs. Cecilia Ibru (Oceanic Bank); Bartholomew Ebong (Union Bank); Erastus Akingbola (Intercontinental Bank); Charles Ojo (Spring Bank); Okey Nwosu (Finbank); Sebatine Adigwe (Afribank) and Frances Atuche (Platinum Habib Bank).
Determined to ensure they were punished for the said offences, the CBN, working in collaboration with the Economic and Financial Crimes Commission (EFCC), facilitated the arraignment in court, of the affected ex-bank chiefs and their alleged accomplices, mostly directors of the banks.
Over one year into their trial before the Federal High Court in Lagos, only one of the chiefs, the erstwhile Managing Director of Oceanic Bank, Mrs. Cecilia Ibru. The woman, who was arraigned in August 2009 like most others, had secured bail some days latter. Her trial was yet to commence on the 25-count charge brought against her when, contrary to all expectation, she decided to admit guilt.
Based on what later turned out as a plea-bargain arrangement between her team of lawyers, led by Prof. Taiwo Osipitan (SAN) and the prosecution team, led by Mr. Kola Awodein (SAN), Ibru was convicted on October 8, 2010 having pleaded guilty to a three-count amended charge. Consequently, the trial judge, Justice Daniel Abutu, sentenced her to six months imprisonment per count. She was also ordered to forfeit assets estimated at N191 billion to the Federal Government. In view of her perceived ill-health, Justice Abutu ordered the prison authorities to transfer her to a private hospital where she was to continue her treatment for some heart related ailment.
Till date, no particular reason has been given for Ibru's decision to end her trial, although it was speculated that her failing health could have informed her decision. Prior to her conviction, she had sought to be allowed to travel abroad for medical attention, a request granted by the court, but was frustrated by the State Security Service (SSS) who refused to yield possession of her passport.
Read more: Of CBN's 'purifier' governor and embattled ex-bank chiefs (http://thenationonlineng.net/web3/business/23452.html)
Imagine this...