Jonathan Suspends Lamido Sanusi as CBN Governor

President Jonathan has
announced the suspension of
the Central Bank of Nigeria,
Mallam Sanusi Lamido Sanusi.

This was made known in a
statement signed Thursday by
Reuben Abati Special Adviser to
the President (Media & Publicity.
The statement further Directed
that the most Senior Deputy
Governor of the CBN, "Dr Sarah
Alade who will serve as Acting
Governor until the conclusion of
on-going investigations into
breaches of enabling laws, due
process and mandate of the
CBN".

The statement reads thus
Having taken special notice of
reports of the Financial
Reporting Council of Nigeria and
other investigating bodies, which
indicate clearly that Mallam
Sanusi Lamido Sanusi's tenure
has been characterized by
various acts of financial
recklessness and misconduct
which are inconsistent with the
administration's vision of a
Central Bank propelled by the
core values of focused economic
management, prudence,
transparency and financial
discipline;
Sanusi
Being also deeply concerned
about far-reaching irregularities
under Mallam Sanusi's watch
which have distracted the Central
Bank away from the pursuit and
achievement of its statutory
mandate; and
Being determined to urgently re-
position the Central Bank of
Nigeria for greater efficiency,
respect for due process and
accountability, President
Goodluck Ebele Jonathan has
ordered the immediate
suspension of Mallam Sanusi
Lamido Sanusi from the Office of
Governor of the Central Bank of
Nigeria.

President Jonathan has further
ordered that Mallam Sanusi
should hand over to the most
senior Deputy Governor of the
CBN, Dr Sarah Alade who will
serve as Acting Governor until
the conclusion of on-going
investigations into breaches of
enabling laws, due process and
mandate of the CBN.
The President expects that as
Acting Governor of the Central
Bank, Dr. Alade will focus on the
core mandate of the Bank and
conduct its affairs with greater
professionalism, prudence and
propriety to restore domestic
and international confidence in
the country's apex bank.

The Federal Government of
Nigeria reassures all stakeholders
in Nigeria's financial and
monetary system that this
decision has been taken in
absolute good faith, in the overall
interest of the Nigerian economy
and in accordance with our laws
and due process.

Sourse: Vanguard