Sanusi financially reckless – Jonathan

The President, Dr. Goodluck Jonathan, has given reasons for the suspension of the Governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi.

Top on the reasons for the suspension of Sanusi, as stated by Jonathan on Thursday, is the financial recklessness of the Kano State born technocrat.

The President said that this has been clearly stated by reports from the Financial Reporting Council of Nigeria and other investigating bodies.

Sanusi was also accused of several irregularities, which were not stated.

However, the irregularities were said to have distracted from the pursuit of and achievements of the CBN.
The President also said he had to remove Sanusi, whose tenure should have lapsed in another four months, in order to reposition the CBN.

A statement on Thursday by presidential spokesman, Dr. Reuben Abati, said: “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.”

Sanusi has made several donations, especially to higher institutions, which had been criticised by several Nigerians.

In Sanusi’s place, Jonathan has ordered that the most senior Deputy Governor of the CBN, Dr. Sarah Alade, should take over the running of the affairs of the apex bank.

Abati said the expectation of Jonathan is that Alade will stay focused on the job and be guided by the mandate of the CBN.

Abati said: “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.”