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 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;
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.