Jonathan Suspends Central Bank Governor Sanusi Lamido Sanusi, Nominates Godwin Emefiele Successor

President Goodluck Jonathan has ordered the immediate suspension of Central Bank Governor, Mallam Sanusi Lamido Sanusi, even as the the Managing Director of Zenith Bank Plc, Godwin Emefiele has been nominated as his successor.

This was contained in a press statement issued today by Reuben Abati Special Adviser to the President on Media and Publicity.

“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 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; 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,” Abati stated.

He said President Jonathan has further ordered that Mallam Sanusi should hand over the reins 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.”, the statement read.

Jonathan Nominates Godwin Emefiele As Next CBN Governor

Meanwhile, the nomination of Godwin Emefiele as Sanusi’s successor came few hours the former CBN governor was suspended.

Information available to us suggest the president may have forwarded Mr Emefiele’s name to the Senate for approval.

He has also nominated Mr Adelabu Adebayo, an Executive Director at First Bank as Deputy Governor of the Apex Bank.

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