JONATHAN SUSPENDS LAMIDO SANUSI AS CBN GOVERNOR, APPOINTS ACTING GOVERNOR

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.