Bayero, who is the 15th Emir of Kano, was appointed as emir on 9th March 2020 after the state governor, Dr Abdullahi Umar Ganduje, dethroned Muhammadu Sanusi ll. Sanusi was dethroned for ”insubordination”.

The coronation took place at the Sani Abacha Stadium and had in attendance Vice President Yemi Osinbajo, state governors, top government functionaries, and diplomats.

The former CBN Governor who gave the advice during a webinar tagged ‘United States of Naira: What Price for Unification’ which was organised by AZA (a cross-border payment platform and forex trading firm), stated that though the BDC is a small percentage of the market, funding it will impact speculation on the country’s currency.

He said “I think what the bank is trying to do is the bridge that gap and I think moves have been made in general in July that has brought the CBN rate and the NAFEX rates closer. But, the BDC rates remain an outlier. It is a small percentage of the market, but it does have an impact on speculation, which is why it is important to fund that market. And once the Central Bank has enough money and funds that market, it will probably converge. So, I would not be interested in moving the rates towards N470, for example, but I would like to see a convergence of CBN and NAFEX, which will take care of over 90 per cent of the transactions in the market and there is some small funding for BDC rate to bring it back to that level. It is what the IMF and the World Bank have asked for. It makes for positive transparency; it makes for clarity of direction; it also reduces the speculative demand for naira. For me, this is the Central Bank finally saying, basically, we will do what the market has been asking for. There are lots of the shocks the bank has no control over. It would be a brave governor of the bank who would announce a target rate when he does not know how much is going to come in or what is going to happen to the oil price tomorrow or the day after, and the entire world is going through shocks. I think it is extremely important that we recognise that the only clarity that the Central Bank can give at the moment is to say we do plan to converge, and that means the official rate is going to be devalued, but we are not going to do it in a rapid and disorderly manner. But, if they want to preserve the value of their currency, there is some virtue in waiting for an orderly unwinding of these backlogs because we must remember that when Covid-19 hit and after the Russia-Saudi fiasco, oil prices went down to $10 a barrel.”

The former Governor of Central Bank of Nigeria who insisted that he wasn’t given a fair hearing before being dethroned in the lawsuit he filed on Thursday, March 12 to challenge his detention and confinement in Awe, said that he was harassed and forced out of the palace without being allowed to pick up his personal belongings.

The deposed Emir’s Chief of Staff, Da Buram Kano said in an affidavit attached to the lawsuit; “I verily believe the state government purportedly removed the applicant from office as the Emir Kano on March 9, 2020, without any basis or justification whatsoever and was not given any hearing on any allegation on which his removal was predicated. The applicant is, however, not challenging his removal as Emir of Kano in this suit. Sanusi’s forcible relocation from the Palace of the Emir of Kano to Abuja, and later Nasarawa State, he has not been able to meet or unite with his wives, children, relatives and friends and that his rights have been severely curtailed.  I know for a fact that the CP  refused the applicant’s requests for protection and to carry his family with him to Lagos and stated that he had no such instructions from above but instead directed that the applicant be flown to Abuja and then taken to Nasarawa State. In order not to jeopardise his safety or the safety of any member of his family or indeed other persons around, the applicant cooperated and proceeded in the vehicles provided by officers under the command of the respondents. They said the Commissioner of Police, along with other officers under the command of the respondents, harassed and rushed the applicant out of the Emir Palace, Kano, without letting him take any personal belongings and personal effects, along with him as they took him into their waiting vehicles. The applicant was then taken in company with loads of armed men, being officers under the command of the respondents, to the Nigerian, Air Force Base in Kano where he was put in a private aircraft to Abuja and departed Kano at about 6.40 pm. The applicant was separated from his family who was also carried out of the palace. Upon arrival at the Nnamdi Azikiwe International Airport, Abuja, he was conveyed first to Lafia, then to Loko area of Nasarawa State, after being driven for about seven hours in the dead of the night. On March 10, 2020, he was taken back to Lafia and from there to Awe in Nasarawa State. That the applicant is personally being detained in Nasarawa State by agents of the first and second respondents (IG and DG of the DSS), purporting to carry out the orders of the third and fourth respondents (Muktar and Malami). Sanusi has not been alleged to be a threat to peace and security but rather cooperated with the officers under the command of the respondents, and has since his travails under the hand of the officers under the command of the respondents issued a public statement of peace for order, for reconciliation, for cooperation with the new Emir  and the avoidance of any security breach or conflict.”

Speaking on Channels TV’s Politics Today, the Senior Advocate of Nigeria (SAN) said the emir was dethroned without being given an opportunity to defend himself.

Falana said “The dethronement, the Banishment and restriction of movement and detention are all clearly illegal. In the first place, the governor held an Executive Council meeting presided over by him and within a space of five minutes, the emir had been accused of executing disrespect to constituted authority, meaning the governor and in the meeting presided over by the governor where he was the accuser, the prosecutor and the witness.  As if such a violation of his freedom and right to a fair hearing was not enough, the governor was alleged to have ordered his arrest and banishment to his village in Nasarawa State.  You do not impeach a governor and decide to detain him somewhere. He has the right to move freely, he has the right to exercise all his powers”

A statement released from the government house said the governor, Nasir El-Rufai has approved the reconstitution of the board of KADIPA.

“Malam Nasir El-Rufai has appointed His Highness, Muhammad Sanusi II into the board of KADIPA. The appointment is part of the reconstitution of the board of KADIPA, which is statutorily chaired by the Deputy Governor, and has as internal members senior officials of the Kaduna State Government. Governor El-Rufai said that Kaduna State hopes to benefit from the profile, experience, intellect and networks of His Highness, Muhammad Sanusi, who before becoming Emir, had built a solid reputation in global financial circles. Malam Nasir El-Rufai said that Kaduna State is honoured to be able to call on the services of a man of such calibre to drive its development. The Governor also said that he is confident that the new board, which includes the most senior officers of the state will further propel KADIPA to greater success in attracting investments to Kaduna State. He disclosed that the external members have been carefully chosen to further reinforce the investment credentials of the state. The new board of KADIPA has the following members:
1. Her Excellency, Dr. Hadiza Balarabe Chairman
2. His Highness, Muhammadu Sanusi II Vice-Chairman
3. Balarabe Abbas Lawal, Secretary to the State Government
4. Bariatu Y. Mohammed, Head of Service
5. Jimi Lawal, Senior Adviser-Counsellor
6. Aisha Dikko, Attorney-General of Kaduna State
7. Idris Nyam, Commissioner, Business, Innovation & Technology
8. Fausat Ibikunle, Commissioner, Housing & Urban Development
9. Thomas Gyang, Commissioner, Planning & Budget Commission
10. Farida Dankaka, KACCIMA
11. Amal Hassan, Private Sector
12. Hafiz Bayero, MD, Kaduna Markets Development Company
13. Altine Jibrin, Director-General, KADGIS
14. Umma Aboki, Executive Secretary, KADIPA Malam Nasir El-Rufai has expressed his gratitude to members of the reconstituted board of KADIPA for agreeing to serve.”