Peterside rejects CBN invitation over Sanusi’s dethronement

March 11, 2020
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Founder of IBTC Holdings Plc, Atedo Peterside, has rejected the Central Bank of Nigeria (CBN) invitation to a forum in protest of the dethronement and banishment of the Muhammadu Sanusi 11 as Emir of Kano by the Kano state government.

In a letter addressed to the Central Bank of Nigeria’s (CBN) Governor, Godwin Emefiele, Peterside said he would not honour an invitation to a CBN forum as he explained that he could not hide his displeasure at Sanusi’s deposition and eventual banishment from Kano.

The Stanbic IBTC founder was invited as a panelist at a CBN consultative round-table session taking place in Abuja. Although he thanked CBN for the invitation, he insisted on not participating in the event.

“My refusal to join you has more to do with the monumental events that took place yesterday viz the removal of the emir of Kano from office and the release of information that purportedly seeks to exile him and restrict his movements or confine them to a little known enclave in Nassarawa state,” Peterside said in the open letter.

He went on to talk about the roundtable themed ‘Going for Growth’. Peterside said growth is a concept where investor confidence is boosted through actions like respecting individuals’ freedom and the rule of law.

“Sadly, yesterday’s events have turned back the clock at a time when our economy is at a precipice and when we need to tell ourselves some home truths and speak truth to power in a constructive manner.

“By coincidence, the ex-emir of Kano is your predecessor in the office at CBN. Ordinarily, he qualifies to be invited for tomorrow’s event. Did you invite him?

“I have decided to stay away from your consultative roundtable and to instead use the opportunity of this letter to draw the attention of a wider audience to my displeasure with the events of yesterday. Please forgive me because I am in no mood to immediately pretend as if all is well by proceeding with business as usual,” he said.

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