President Goodluck Jonathan this night declared that he has the right to suspend the Governor of the Central Bank of Nigeria (CBN). He made the declaration while defending last Thursday’s suspension of CBN Governor, Mallam Sanusi Lamido Sanusi, over alleged fraudulent practices.

“The issue of the CBN is quite unfortunate but as to whether the President has powers to suspend the Governor of CBN, I will tell you yes, he has the powers,” Jonathan said during the Presidential Media Chat, which is on-going.

He said that “CBN is not even well defined in the Nigerian Constitution” as one of the bodies whose heads the President appoints but the Senate ratifies.”

Jonathan stressed that he as President has oversight functions over the CBN, saying: “For the CBN Gov to change the colour of naira, the President must approve.”

He explained that “Sanusi is still the Governor of CBN… people must know that … he can come back tomorrow … that is why there is no substantive Governor … There are issues raised in the report of the Financial Reporting Council and the CBN Gov has to step aside to allow investigations.”

Jonathan said even though the FRC Report was submitted early last year he delayed in suspending Sanusi “because of how sensitive CBN is.”

The President insisted that “there is no time that is even appropriate to suspend anybody,” pointing out that Sanusi is not the first public officer to be suspended from office.

•Photo shows President Jonathan.