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
