By Demola Akinyemi
Ilorin – The National Chairman of Action Alliance, (AA), Senator Suleiman Salawu on Sunday in Ilorin,Â condemnedÂ the decision of the Central Bank Governor, Dr. Sanusi Lamido Sanusi over the five banks chief executivesÂ describing it as a panic action that will never yield any good result .
Addressing newsmen over the arrest of some banks Executives in the country by the CBN, Senator SalawuÂ explained that it was a selective approach addingâ€œFederal Government is heavily indebted to many construction firms and other private organization while the same situation applies to many state administrationsâ€.
He also saidÂ above all that itÂ will eventually destabilize the sound financial policy put in place over years by the management of the effected banks and which made them among the strongest banks in Africa.
Senator Salawu was of the opinion that the action of Central Bank of Nigeria is sending wrong signal to the world economy.
He also said that, the government that claims to believe in the rule of law should have followed due process but instead Dr. Sanusi went ahead by sacking the Chief Executives of the five banks without recourse to the rules and regulations.
â€œIf we should allow the Sanusiâ€™s action on the five banks to stand, financial industry of the nation will collapse. This will be a question of time. The CBN is a regulatory body and should not