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Home Business News Politics

GEJ Suspends Lamido Sanusi As CBN Governor With Immediate Effect

Nairametrics by Nairametrics
February 20, 2014
in Politics
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Sanusi

President Jonathan suspends Lamido Sanusi as CBN Governor, appoints Dr. Sarah Alade, Acting Governor.

Here is the just released statementon the suspension:

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“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.”

Reuben Abati
Special Adviser to the President
(Media & Publicity)
February 20, 2014

Tnx to @ad_Vassilli for this.

Source: Niginfo https://m.facebook.com/photo.php?fbid=665760000152445

Tags: CBN NigeriaNews Review
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Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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Comments 3

  1. Anonymous says:
    February 20, 2014 at 8:46 am

    good for the loud mouth.

    Reply
  2. d4gmail says:
    February 20, 2014 at 10:27 am

    This is good news. There should be a positive reaction on the market if this happens to be true.

    Reply
  3. d4gmail says:
    February 20, 2014 at 7:05 pm

    @Anonymous LOL. My Question is that will this change the current trend?

    Reply

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