Sanusi; Heads May Roll In NNPC, Why Iweala, Recounts Her Decision To Resign From The Cabinet, Emir Of Kano Fingered

Throughout on Wednesday, night President Jonathan and members of his kitchen cabinet, had  a hectic time trying to work out a damage  control measure to counter the back lash  on the removal of the Central Bank Governor, Malam  Sanusi Lamido  Sanusi, following the public outcry that trailed the announcement of his suspension from office.

According to Security sources who spoke with 247ureports.com, the revelations from the National Assembly, where the Minister of Petroleum, Diezani Madueke, claimed a whopping N700Million were spent daily on kerosene subsidy, was said to have jolted the initial plan by the presidency to arrest the former embattled former CBN Governor, Sanusi Lamido.

While, it could not be immediately confirm, the Minister of Finance, Ngozi Okonjo Iweala, had threatened to throw in the towel, as “her international reputation is at stake following the revelations from NNPC”

The president, according to our source had personally plead with Iweala, assuring that whatever is needed to be done will be done to clear the mess in NNPC.

Indeed, the suspended Governor of CBN, Lamido Sanusi has berated President Jonathan attitude to corruption, saying his exposure of financial misappropriation by Nigeria’s state owned oil firm, NNPC, put him in the bad books of the President.

“ The minister of petroleum, spoke live on Television before the National Assembly, admitting that she spent $35billion of Tax payers’ money on kerosene subsidy without budget approval, but nothing has been done” Sanusi said.

Sanusi, further stated that it was ironical for the Federal Government to accuse him of financial recklessness while the account of NNPC has not been audited since 2005, spanning eight years’’

Source at the meeting also told 247ureports.com that the hawks in the Villa, had expressed fear, that Jonathan’s recent royalty visit to the Emir of Kano might be interpreted as the catalyst to Sanusi’s removal “it is a well-known fact that the embattled former CBN Governor has his eyes on the throne”.

To mitigate the damage, the presidency allegedly directed the media office and the Minister of finance to further array the fear that Sanusi was not removed from office for any political expediency.

But the damage control by the coordinating minister , Ngozi  Okonjo Iweala, came  late as the removal of Sanusi took its toll on the finance market.

Barely 24 hours after, the announcement of Sanusi’s suspension, the money market stood still. Website of the financial market Dealers Association which is today the platform of the money market bond was said to have experienced market shut down.

The market capitalization shed N186.59b, representing 1.47 percent loss.

But the Nigeria minister of finance, Dr. Iweala, insisted that the development at the CBN, involving the sudden removal of the Governor will not change the economic policy focus of the government.