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Nigeria: Exclusive - Lamido Sanusi's Suspension Letter

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Reserve Bank Governor Lamido Sanusi.

Download Sanusi's Suspension Letter

Earlier today, the President ordered the immediate suspension of Mr. Sanusi from office, saying his tenure had been characterized by various acts of financial recklessness and misconduct inconsistent with the administration's vision of a Central Bank propelled by the core values of focused economic management, prudence, transparency and financial discipline.

However, many Nigerians believe the CBN governor was axed because he exposed the Nigerian National Petroleum Corporation, NNPC, as an harbinger of corruption and financial mismanagement, diverting huge federal revenues accruing to the nation from the sale of crude oil.

Mr. Sanusi says as much as $20 billion oil money is missing.

The President, in a statement by Reuben Abati, his Special Adviser on Media and Publicity, ordered the Central Bank governor to hand over to the most senior Deputy Governor of the bank, Mrs. Alade who will serve as Acting Governor until the conclusion of ongoing investigations into alleged breaches of enabling laws, due process and mandate of the Central Bank.

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InFocus

Nigeria Central Bank Governor Suspension Sparks Outcry

Reserve Bank Governor Lamido Sanusi.

Protests greet the decision by President Goodluck Jonathan to suspend Sanusi Lamido Sanusi from his position as the Governor of the Central Bank of Nigeria for alleged financial ... Read more »