SANUSI SUSPENDED AS CBN GOVERNOR

Mallam Sanusi Lamido Sanusi has been suspended as the Governor of the Central Bank Of Nigeria (CBN). This Presidential order was announced some minutes ago by Reuben Abati, the Presidential spokesman. Mallam Sanusi Lamido Sanusi was appointed Governor of the Central Bank of Nigeria on 3 June 2009. He is a career banker and ranking Fulani nobleman, and also serves as a respected Islamic scholar.

Why is Sanusi suspended? It may not be unconnected with the reports of Financial Reporting Council of Nigeria and other investigating bodies, which show clearly that Mallam Sanusi Lamido Sanusi has been found wanting in various acts of financial "recklessness and misconduct which are inconsistent with the administration’s vision of a Central Bank."  President Goodluck Jonathan expects a CBN that focuses on core economic management, prudence, transparency and financial discipline.

The  far-reaching irregularities characterized by Sanusi’s tenure are said to have "distracted the Central Bank away from the pursuit and achievement of its statutory mandate" 

Sanusi is replaced by Sarah Alade as acting CBN Governor.