Emir Sanusi's dethronement: Atedo Peterside to boycott CBN’s roundtable
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Emir Sanusi's dethronement: Atedo Peterside to boycott CBN’s roundtable

- A respected voice in corporate Nigeria, Atedo Peterside is boycotting an event organised by the CBN due to the dethronement of Emir Muhammadu Sanusi

- Peterside's decision is seen as solidarity to the dethroned Enir who is equally a respected voice in Nigeria's business community

- Peterside said the practices exhibited by Kano governor, Dr Abdulahi Ganduje, have no place in a democratic dispensation

Investment banking guru, Mr Atedo Peterside, has said he will not attend a forum organised by the Central Bank of Nigeria (CBN) because he is displeased with the dethronement of Muhammadu Sanusi II as Emir of Kano.

Peterside, the founder of Stanbic IBTC Holdings Plc, made his stance known in a letter sent to the governor of CBN, Mr Godwin Emefiele.

Peterside who also sits on the board of Flour Mills of Nigeria, Nigerian Breweries and Unilever Nigeria. said he cannot hide his displeasure at Sanusi’s deposition and eventual banishment from Kano state.

“Whilst thanking you for the invitation, I believe the correct thing for me to do is to respectfully decline to participate,” he wrote.

Emir Sanusi's dethronement: Atedo Peterside to boycott CBN’s roundtable

Emir Sanusi's dethronement causes ripples in Nigeria's business community
Source: Twitter

“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 Nasarawa state,” he added.

He lamented that “those in authority pay lip service to the Nigerian constitution and then proceed to violate the fundamental freedoms that it guarantees each individual because they prefer to cling to practices like exile which they learnt from colonial masters and the military. These practices have no place in a democratic dispensation.”

He further said growth is a concept where investor confidence is boosted through actions like respecting individual freedom and the rule of law.

He continued: “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.”

Sanusi's dethronement continues to attract widespread condemnation from prominent and ordinary Nigerians.

Many see it as an abuse of power exhibited by Kano state governor, Dr Abdullahi Ganduje.

Ganduje, a member of the ruling All Progressives Congress (APC), was seen stashing dollars in his pocket in a viral video in 2019.

Interestingly, the governor dethroned the former Emir for disrespect after failing to prove allegations of corruptions against him.

As a former governor of Nigeria's apex bank, Emir Muhammad Sanusi II seems to be getting support from Nigeria's business community.

Peterside, a respected voice in Nigeria's business community, has opened the doors to what many feels would be the beginning of corporate Nigeria identifying with one of their own.

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Meanwhile, as Kano sent packing the revered Emir, Kaduna state has decided to tap from his wealth of experience.

Governor Nasir el-Rufai of Kaduna has appointed the dethroned Emir as the vice-chairman of the Kaduna Investment Promotion Agency (KADIPA).

The governor expressed a strong belief in the experience and potential of the dethroned emir to deliver positively in his new capacity.

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