Thursday 20 February 2014

Nigerian Central Bank Governor Sanusi Suspended by President

Nigerian President Goodluck Jonathan suspended Central Bank of Nigeria Governor Lamido Sanusi for alleged misconduct and distracting the bank from its core mandate.
Sanusi will be replaced as acting governor by his deputy, Sarah Alade, until the conclusion of an investigation into “breaches of enabling laws, due process and mandate of the CBN,” presidential spokesman Reuben Abati said in a statement on his website.
Sanusi, 52, was due to leave his post in June, having declined to remain for a second five-year term. He wrote to Jonathan last year, alleging the state-owned Nigerian National Petroleum Corp. had retained almost $50 billion in revenue that was due to the government. On Feb. 4, he told a Senate finance committee that $20 billion was outstanding. The NNPC has denied the allegations.
Central bank spokesman Ugochukwu Okoroafor wasn’t aware of Jonathan’s decision when called on his mobile phone today. Sanusi’s mobile phone was switched off and he didn’t immediately respond to an e-mail seeking comment.

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