15 things I learnt from Emir Sanusi and Peace Hyde on 1st episode
The revelations were made during the hour special of the "My Worst Day" show with Peace Hyde on the new Forbes Africa TV.
The revelations were made during the hour special of the "My Worst Day" show with Peace Hyde on the new Forbes Africa TV. The show opened to about 35,000 views in just a few days and as the dust gradually settles, here are the 15 biggest things we learnt from the exciting first episode:
1. Did You Know about the Kingdom of Kano?
Emir Sanusi is now the religious leader of Kano, which is a hereditary role. Apparently, the Kano kingdom has been in existence for over 1000 years and his particular dynasty has been ruling Kano for over 200 years. Emir Sanusi is in a religious traditional role but his role is also one that has tremendous influence in terms of advice to political authorities and collaboration in the delivery of public services.
2. How bad is the Nigerian Education System?
It turns out that the Emir of Kano initially wanted to continue with his studies to get a Masters and a PHD and become an academic economist. However, the government at the time, faced with similar economic conditions as today decided to put a ban on Nigerians studying abroad for fellowships and scholarships to avoid “brain drain”. Because the major attraction at the time for masters was an international recognition and the Emir of Kano did not want to get one from Nigeria, he opted for a career in banking instead. Could the Nigerian education system be the reason why there are so many Nigerians in the diaspora?
3. Not everyone in banking is smart
Contrary to popular belief, not everyone who works in the banking industry is as clever as you would like to believe. According to Emir Sanusi, “I have always been attracted to the more intellectual aspects of banking and risk management at that time was the most cutting edge of banking”.
If there is a more intellectual side of banking, then the question is, which aspects of the banking industry is less intellectual and most importantly, What does this revelation mean for those who enter the banking field to attain prestige?
4. Thou shalt not steal
It is no surprise that Emir Sanusi’s Worst Day corresponds with one of the 10 commandments. According to the Emir, “My Worst Day will have to go down to the moment I came to the conclusion that money that belonged to the Nigerian people was being taken away from them as governor of central bank.”
The NNPC who the Emir accused of the $20 billion theft broke the sacred commandment and we all know what happened afterwards in the Holy Book.
5. There is always two options to any crisis.
When faced with a dilemma, there is always the right way and the wrong way and the Emir of Kano was faced with the same two choices. “So when I was faced with the banking crisis, I knew I had two options. One option is to do what most central banks in the world would do and say let the banks fail. But when a bank fails, people just see that one bank has failed but what they don’t see is the hundreds of thousands of people who have been destroyed who had money in those banks and these people are generally voiceless. The other option was to say no matter how much it costs the system; we need to make the investment necessary to protect those people,” says the Emir.
6. Everybody needs to be known for something
I am sure everyone has pondered over the million-dollar question, what do I want to be remembered for and if you haven’t well then you certainly should. For the Emir, his life has always been defined by the commitment to speak the truth to people in power.
“If you actually just Google my name you will see all sorts of articles and all sorts of debates I’ve had over the past 30 years with different people on politics and religion and it has always been my life to say things as I see them,” he said.
7. Did you know about the Government Consultative Committee within the Central Bank?
Turns out the Central Bank of Nigeria have a committee made up of all the departmental directors, the deputy governors and the governor himself who meet once in a quarter to review the economy. At several of these meetings, Emir Sanusi had complained that he was not at all satisfied that we had understood what was going on in revenues because the numbers were not adding up to him. The complaints led to an investigation into the revenue books of Nigeria, which initially exposed a deficit of $49 billion.
8. The famous letter Emir Sanussi wrote to the president was ignored for 4 months
It was only after Emir Sanusi’s letter to Former president Jonathan about the missing $20 billion was referenced by former president Obasanjo in his open letter that the news broke about the fraud.
According to him, all hell broke lose after former president Obasanjo made the details of his letter public to the media.
9. The Petroleum Minister is the most powerful minister in Government
According to Emir Sanusi, nobody who had touched Diezani had survived due to her status as the most powerful minister in GEJ’s administration.
Is this the reason why President Buhari initially opted to handle the petroleum portfolio himself?
10. It is always better to say it in person
The final encounter with the Emir and former President Jonathan took place in a face to face meeting. According to the Emir, he was summoned to the presidents close quarters where the president advised him to either fire someone from his administration or resign.
According to him, everybody assumed it was a telephone conversation but in fact the final meeting was done in person. As the Emir puts it; “Once I mentioned the minister he got very angry, his countenance changed and he said you know whether you like it or not you are going to leave that office, I cannot continue to work with you either you or I will leave government. So I knew I was not going to see the end of my time so I thanked him and shook his hands and left."
11. You need to understand the psychology of a prince
When Senator Ben Murray Bruce highlighted the risks involved in fighting the Nigerian government, Emir Sanusi answered saying, the best place for a prince to be is where he can be a hero.
If he got taken down by the president, he goes down defending $20 billion of the Nigerian peoples money and if he brings the president down he is a hero for bringing down the president whiles defending $20 billion of the peoples money so there was no way he could lose. It pays to be of royal heritage.
12. Power is transient
As the saying goes, nothing remains the same forever. One minute you are on top, the next, at the bottom. As Emir Sanusi eloquently puts it, “where is Jonathan right now? He is in Bayelsa, no body hears about him anymore. Where are all those people that everybody was so scared of?” It is important to build a good reputation when you are at the top of your game so that when things change, people will always remember the legacy you left behind.
13. Always be prepared for the worst
If the president wants me to go to prison, he doesn’t need to go through all of that, he should just tell me what prison to go to and for how long and I will drive myself,” says the Emir.
If you have nothing to lose, doing what you think is right comes very easy. However, prison is definitely a scary place so I wonder if he would actually have gone to prison for a crime he did not commit?
14. Speak now or forever hold your peace
If you don’t have the courage to speak when you should then you should have the honour and the dignity to keep quiet after that. According to the Emir, “I take more pride in saying to a sitting president that you are wrong than someone who is no longer in power”.
15. Marcus Aurelius was a wise man
According to Emir Sanusi, if you are faced with a choice of doing what is popular and doing what is right always do what is right.
That saying was coined by the great Roman emperor, Marcus Aurelius, who coincidentally was also renowned for being the voice of the people during his rule in ancient Rome.
Watch the revealing episode below.
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