Why Sanusi Lamido was suspended by President Jonathan – Reuben Abati

by ‘Jola Sotubo

Sanusi-lamido-Sanusi2

The Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi, was today suspended by President Goodluck Jonathan.

[READ: BREAKING: President Jonathan suspends Sanusi Lamido]

Sanusi’s five year tenure is due to end June 3 but there have been rumours that he would be forced to leave before then.

[READ:Why Sanusi may leave the CBN before his tenure ends]

The development was revealed by Reuben Abati, the president’s special adviser on Media and Publicity.

Mr. Abati also issued a statement explaining the reason behind the president’s action. Read full statement below:

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.

Comments (2)

  1. Things fall apart the centre cannot hold

  2. The president logically said that Sanusi spoke or act or move beyond the law and therefore, he has open investigation into that but, not Malam Sanusi's claim of missing 20 billion dollar, waoooo, nothing absolutely was said about that. The almighty president went ahead to instruct, remind and warn Mallam Sanusi¡s deputy; Dr Alade as the new acting central bank governor to concentrate only on banking and nothing more. Is the president a military dictator or are we in authoritarian government?.
    It is obvious that government is under-minding the laws that established their offices in the first place as autocrats do. I am not of the opinion that the president has no right to fire any one he dimmed fit, but, certainly not at the face of a high level governmental corruption alligation against them which the fired central bank governor stands as the eyes opener to nigerians or witness.
    I do not want to ask why Mallam Sanusi stood to expose them now or why the government acted this way, but, my heartbreak is why should nigerian politicians hate nigerians with great passion?. They don't even care how we feels, acts and reacts to their abusive actions.
    I do not want to know if Mallam Sanusi action was to target the success of PDP in 2015 elections or the president reaction is to protect PDP and re-unite the south and west PDP chiefians, but, what stands more important to nigerians is where goes our 20 billion dollars oil money?

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