20 February 2014

Nigeria: FG Suspends Sanusi, Appoints Sarah Alade As Acting CBN Governor

Reserve Bank Governor Lamido Sanusi.

The Federal Government Thursday suspended the Central Bank Governor, Mallam Sanusi Lamido Sanusi. In a statement sent to THISDAY by Dr. Reuben Abati, Special Adviser to President Goodluck Jonathan, the most senior Deputy Governor of the CBN, Dr Sarah Alade, has been named as the Acting CBN Governor.

The statement noted that Sanusi's tenure has been characterised 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".

The statement addeed that Jonathan has ordered that Mallam Sanusi should hand over to 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.

More on This

Sanusi's Inconsistent Consistency

EVIDENTLY, the Governor of the Central Bank of Nigeria, CBN, has been quite loquacious. Since his ascendancy to the … see more »

Copyright © 2014 This Day. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.