Nigeria's CBN Governor Finally Gets The Boot

Sanusi Lamido

Nigeria’s President Goodluck Jonathan on Thursday morning sacked Lamido Sanusi, as Governor of Central Bank of Nigeria, CBN.

The President also appointed Mrs Sarah Alade, Deputy Governor, Central Bank to act as CBN Governor.

Sanusi had in the past few months been involved in controversies over allegations of missing funds between the Nigeria National Petroleum Corporation, NNPC and the Federal Ministry of Finance.

But in a statement signed by Reuben Abati, the special adviser to the President on media and publicity, the President said the sack of the Minister was based on the report of “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.” “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.