Senate Leader Teslim Folarin has described as “a national embarrassment’ a comment by the Inspector-General of Police (IG) Ogbonaya Onovo that former Chairman of the Economic and Financial Crimes Commission (EFCC) Mallam Nuhu Ribadu did not visit the country recently
Ribadu had penultimate Thursday visited the Government Reservation Area (GRA), Ikeja home of foremost activist-lawyer, the late Chief Gani Fawehinmi, to sympathise with his family over his (Fawehinmi’s) death.
He died on September 5 of lung cancer at 71.
Speaking with reporters after hosting his constituents as part of activities to mark the Eid-el-Fitri, Folarin said: “It is a national embarrassment, for a high profile person like Ribadu to come into the country and the security men are saying they don’t know he was here! It says so much about our security network in the country or may be the IG was not briefed by his boys that Ribadu actually came into the country. It is also possible that they may not have written any report to the IG covering the visit of Ribadu.’’
He also debunked the rumour that the sack of the five bank managing directors by the Central Bank Governor, Mallam Sanusi Lamido Sanusi, is a “Northern agenda”.
Folarin said something was fundamentally wrong with the banking sector that needed to be fixed before it got out of hand.
He said though the Nigerians could query the way the apex bank went about the exercise, “what the Central Bank governor did was critical at the moment”.
Folarin urged Nigerians to wait for the outcome of the court cases against the former bank executives to determine whether the allegations against them are true or false.
“I don’t think it’s a Northern agenda. I think something fundamental is wrong with the industry and I don’t see anything wrong in what Sanusi has done. May be the way he went about it would have been better done. We have to wait until the court finds the sacked MDs guilty, but if all the allegations against them are true, then Sanusi has just performed the work of a regulator.
“But how did it all happen? I recall that Soludo briefed the Senate not once, not twice that things were okay with our banks. For this to happen, it is really shocking. We just have to wait for the court to decide. Let’s wait,” Folarin said
The Senate Leader also exonerated Sanusi over N420billion bailout the apex bank gave to the banks, describing the provisions of the CBN Act as another grey area in the Constitution.
“I have read the Central Bank’s Act, and I know what the Constitution says. The Constitution says the National Assembly has the power to appropriate funds. The Central Bank’s Act says they have the power to regulate. I think it’s one of the grey areas of the Constitution.
“It depends on which side you belong to. A lot of my colleagues have said where there is a clash, the Constitution of the country supersede, which is correct. But the Central Banks Act also gives the governor the power,” Folarin said.
Source: The Nation