by Demola Rewaju

The execution of the move was brilliant – nobody, not even Sanusi with his eagle-eyed spectacles saw it coming. The moves can be summed thus – suspend the Fulani CBN governor, appoint a Yoruba acting CBN governor and nominate an Igbo CBN governor. Brilliant execution of a well-planned punishment for a man who deserved it and worthy of the general-politician Obasanjo himself but there were other ways to punish SLS…

…Not because Sanusi Lamido Sanusi is above reproach or is not worthy of worse reprimands than a suspension from office as CBN governor. On the contrary, SLS’ conduct in the past few weeks are quite unbecoming of a public servant of his high standing…scratch that…his conducts ab initio have rarely exemplified the decorum and calm usually exuded by bankers and banking regulators. SLS talks too much, way too much for any head of the apex bank. His interviews, speeches and political activism is more than those of all his predecessors from Abacha boy, Paul Ogwuma to Joseph Sanusi and even Charles Soludo. Sanusi talked too much at almost every turn and has become only consistent in inconsistency.

From his proposed N5,000 bill which he claimed he needed no presidential approval for to the Islamic Banking idea which he claimed was already in the works before he assumed office, Sanusi’s decisions can rarely be said to have been popular. His was one of the most strident voices in favour of the removal of fuel subsidy (which I agreed with) but many others protested against. Allegations of nepotism in appointments surfaced last year on the heels of his alleged affair with a strange woman (which I analysed in this great piece).

After making his public allegations of graft in the NNPC and somersaulting lower and higher as to the figure involved, SLS should have left office if he had any modicum of decorum or propriety in acceptable behaviour. You do not leak official correspondence, get figures wrong and cling to office anywhere in the world. Graft running into billions of dollars (by all accounts) do not start in one day and graft of such magnitude is impossible to carry out without the knowledge of the CBN governor. If Sanusi’s whistle-blowing only found voice few months to the end of his tenure then perhaps he had turned a blind eye to the NNPC corruption since he took office in 2009 or he just became a born-again anti-corruption crusader.

His sudden change of heart has won him much needed support and sympathy among GEJ opponents who have now given him a papal bull of indulgence and forgiveness – nothing matters from your past so long as you get the final move right. He acted patriotically by blowing the whistle on NNPC but there are more pragmatic channels of expressing your grievances – how many letters did SLS write to NNPC concerning funds unaccounted for before now?

By suspending him however, President Goodluck Jonathan has opened his flank to attacks from his opposition and won SLS more support among them and in the north where he remains a crown prince in line for the throne. The execution of the move was brilliant – nobody, not even Sanusi with his eagle-eyed spectacles saw it coming. The moves can be summed thus – suspend the Fulani CBN governor, appoint a Yoruba acting CBN governor and nominate an Igbo CBN governor. Brilliant execution of a well-planned punishment for a man who deserved it and worthy of the general-politician Obasanjo himself but there were other ways to punish SLS…

If the president believes Sanusi has overstepped his bounds as I have shown above, it would have been in the best interest of the country and its banking sector to leave him in office until his tenure ends on June 1st, 2014, few months from now. Sure he can do more damage between now and then but not if you isolate him from his power base and try to cut off his media lifeline by exposing some more of his indiscretions.The news around the world already is that GEJ removed SLS for whistle-blowing and analysts say the Naira is falling in value as the market reacts with trepidation to this political move. Power is not always exercised in directness but sometimes with subtlety and guile and Sanusi is a master player.

Highly intelligent, suave and wellspoken, an opponent like Sanusi is not easily defeated, especially with blue northern blood flowing in his veins. The only way to cage a man like that is to focus on his Achilles’ heels and in Sanusi’s case, his tongue would have done him in eventually. If only GEJ had waited a while more, Sanusi, thinking himself untouchable, would have become more brazen in his attacks on the presidency and eventually stuck his foot in his mouth (such as showing up with more inconsistent figures). Public opinion would inevitably swing back against him and then proceeding on his terminal leave in a matter of weeks no harm would have been done. By making a martyr out of him now, the opposite effect has kicked in – opposition forces conveniently forgetting Sanusi’s indiscretions of the past are now hailing him as the best thing since sliced bread.

I have seen some parts of the report that indicted Sanusi and the allegations are quite weighty. Suspending him first has however given him the upper hand as any justification now seems like an afterthought. It would have better to leak the report to the media first of all, wait till the people themselves judge Sanusi guilty of financial recklessness and then let him proceed on terminal leave.

Whatever reasons adduced for Sanusi’s suspension cannot obfuscate the fact that we all know – Sanusi was suspended for his impunity and lack of decorum in exposing NNPC’s corruption. By suspending him, the president has opened himself up to allegations of personal corruption himself. Having called for a forensic audit, GEJ should have left Sanusi alone, cut off his allies in CBN, moved public support against him covertly and let him go home and retire in peace. Even Soludo’s achievements were rubbished once he was out of office.

But I am not the president and this may be the president Nigeria wanted all along and perhaps he is finally living up to the desires of the people which is similar to that of Ezeulu in Chinua Achebe’s ARROW OF GOD when he said and I paraphrase – ‘I prefer a son who breaks things in his haste than one who is too sluggish’. In that immortal work, Ezeulu was comparing his firstborn Edogo (the slow and contemplative one) to his other son Obika (the fiery and disruptive one).

Edogo finally took action because he feared what people would think of him and his family – he carried the masquerade even though he was very ill and that ‘taking action’ led to his death. President Jonathan is no Edogo but with his one step forward by sacking Madam Stella Oduah last week, he has taken two steps back by suspending Sanusi this week and the perception of corruption may linger on his government for a while longer. I’m sure I speak the minds of many that in view of the fresh Boko Haram killings and the new Shekau video, more action needs to be taken in the direction of Boko Haram than public service irritants like Lamido Sanusi.

Please have a splendid weekend.

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Demola Rewaju blogs from www.demolarewajudaily.com

Op-ed pieces and contributions are the opinions of the writers only and do not represent the opinions of Y!/YNaija.