The rift between President Goodluck Jonathan and Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi reached its crescendo Thursday with the former suspending the latter.
Jonathan hinged Sanusi’s suspension on reports by the Financial Reporting Council of Nigeria (FRCN) and other investigating bodies, which alleged that Sanusi’s tenure as CBN Governor has been characterized by various acts of financial recklessness and misconduct.
A statement by Special Adviser on Media to the President, Dr. Reuben Abati indicated that the accusations against Sanusi were inconsistent with Jonathan’s 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 CBN for greater efficiency, respect for due process and accountability, President 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,” Abati said.
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