Worried about the dethronement of the former Kano Emir and fellow ex-banker, Sanusi Lamido Sanusi, the founder of Stanbic IBTC Bank Plc, Atedo Peterside, has declined participation at a roundtable session organised by the Central Bank of Nigeria.
Mr. Peterside, who was invited as a panelist at the event scheduled to hold on Wednesday, described the removal and banishment of the former monarch as an abuse of power and constitutional provisions.
In his letter to the governor of the apex bank, Godwin Emefiele, Mr Peterside said as long as Nigeria flouts her own laws and tramples on people’s rights, investments in the nation’s economy will continue to nosedive.
While also warning of the likelihood of Nigeria’s return to another round of economic recession, the entrepreneur said the right policies are currently not in place to avert the impending crisis.
He said, though he is presently in London after participating at the Commonwealth Service on Monday, he could afford to fly back to Nigeria, but he had decided to stay away from the meeting in protest against the action of the Kano State government and because he saw no point joining in the discussion at a time like this.
He wrote; “The theme for your Roundtable Session is ‘Going for Growth.’ Rapid growth is only achieved on the back of significant investment activity. Going for growth should therefore be a holistic concept that embraces the sum total of actions and activities that we need to encourage in order to boost investor confidence, including respect of individual freedoms 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.”
Mr. Peterside’s statement is reproduced below:
Dear Governor Emefiele,
CBN Consultative Roundtable: A Conscientious Objection