Lamido Sanusi, yesterday, raised alarm that some of the sacked bank chief executive officers, CEOs, have budgeted N300 million to fight him through the media, alleging that already N120 million has been deployed for sustained media war against him.

Speaking after the Federal Executive Council, FEC, meeting at the Presidential Villa, the CBN boss said N120 million of the budget has already been spent on newspaper publications meant to tarnish his image and efforts, which have seen the sack and prosecution of some bank chief executives.

He said: “I don’t think that anybody can do things that we did without expecting any reaction. I knew people will react. They will fight in the newspapers, in the courts of law; they will fight in any way they can. All we have to do is to remain focused and do what needs to be done. We are not in any way worried about what the people are doing and we should not let them divert attention.”

Fielding questions from State House Correspondents on criticisms and challenges facing his reforms, the CBN boss said: “we actually know the person that writes the publications; we actually know the person that has paid for the publications, we actually know how much has been spent. There was a budget of N300m, N120m has been spent. We know exactly who they are and where they are. We know what their relationships are with the CEOs that were removed, but it is not important in any way because it has no impact on what we are doing and what we will continue to do and that is it.”

Sanusi had briefed the FEC on the banking reforms and the performance of the nation’s economy during which he announced that the 6.9 per cent growth of GDP in 2009 was expected to rise above seven per cent for 2010, and that the exchange rate of the naira against foreign currencies was also expected to remain stable. He said: “The increasing growth rate was sequel to improved performance of the agriculture and oil sector, particularly with the peace reigning in the Niger Delta now.