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.
Reuben Abati
Special Adviser to
the President
(Media &
Publicity)
February 20, 2014
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