A Federal High Court in Abuja is expected to give its verdict on tomorrow Tuesday in the suit filed by the suspended Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi.
Sanusi Lamido Sanusi Is challenging his suspension by President Goodluck Jonathan.
Justice Kabriel Kolawole chose Tuesday for judgment after entertaining arguments from parties in the case on April 8. The court took arguments on both the defendants’ preliminary objection and the substantive case.
Listed with the President as defendants are:-– the Attorney General of the Federation (AGF) and the Inspector General of Police (IGP).
Represented by Kola Awodein (SAN), Sanusi Lamido Sanusi.’s contention is that the President lacked the powers to unilaterally suspend the Governor of the CBN despite his alleged offence.
The plaintiff argued that the President’s exercise of the executive powers, provided in the Constitution, was subject to the Act of the National Assembly.
He said, in his case, the President was expected to exercise his power to remove the CBN governor in accordance with the provision of the CBN Act.
Sanusi Lamido Sanusi argued that since there is no provision for the suspension of the CBN governor in the CBN Act, it implies that the President has no powers to suspend the apex bank’s governor.
He further argued that under Section 1(3) of the CBN Act, the bank is made an independent body with the intention of making the bank operationally independent, so that there will not be interference of any sort in its operations, except as permitted under the Act.
Sanusi Lamido Sanusi contended that even if the President was to exercise control over the bank, which include the suspension of its governor, such must be done with the support of 2/3 majority of the Senate.
He said his client has made out a proper case for the court to void his suspension.
In their counter-argument, the defendants insisted that the suspension of the plaintiff by the President was within his powers. They contended that the CBN was an agency of the Executive arm of the Federal Government, whose powers as contained in Section 5 of the Constitution is vested in the President.