Nigeria’s Central Bank Governor, Lamido Sanusi suspended

By The Africa Report
Posted on Thursday, 20 February 2014 10:52

Presidency spokesman, Reuben Abati on Thursday said Sanusi’s suspension follows “various acts of financial recklessness and misconduct”.

He said the suspension was pending an inquiry into “breaches of enabling laws, due process and mandate of the CBN (Central Bank of Nigeria)”.

The Nigerian consitution does not grant the president the right to sack the central bank governor.

Sanusi had refused to resign on December 31 last year upon request by Jonathan, saying he intended to serve his full five-year term.

An outspoken critic of Jonathan’s administration’s record on tackling corruption, Sanusi, 52, was expected to leave office at the end of his term in office on June 2.

The central bank governor’s fall out with Jonathan reached a crescendo after a leaked letter pointed to the failure of the National Petroleum Corporation to account for $20 billion in missing crude oil revenue.

Sunisi’s letter preceded another scathing letter about Jonathan’s leadership, written by former president Olusegun Obasanjo and fellow People’s Democratic Party (PDP) member.

Going out with a bang

After shaking his country’s ruling People’s Democratic Party (PDP) party with accusations of missing billions, Nigeria’s Central Bank governor Lamido Sanusi is going out with a bang.

Sanusi is set for battles on multiple fronts in Africa’s largest oil producing country as he enters the final five months of his tenure.

This follows a serious row with President Goodluck Jonathan over a leaked letter, and the failure of the National Petroleum Corporation to account for $12.8 billion in missing crude oil revenue.

The leaked letter led to another critical letter about Jonathan’s leadership, penned by former president Olusegun Obasanjo and fellow party member.

Jonathan reacted angrily to the letters warning that they were threats to national security and reportedly demanded Sanusi’s resignation.

But the central bank boss refused to budge at the end of December, 2013, saying he will serve his full five-year term.

Sanusi is scheduled to step down from his job on June 2… Continue Reading

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