Nigeria’s central bank governor Lamido Sanusi has been suspended by the president pending investigations into “far-reaching irregularities”.<\/p>\n
Mr Sanusi caused shockwaves in Nigeria when he alleged that $20bn (\u00a312bn) in oil revenue had gone missing.<\/p>\n
Nigeria’s state oil firm has denied failing to account for the money, saying the claim was “unsubstantiated”.<\/p>\n
Mr Sanusi is widely respected after undertaking reforms to the banking sector since his appointment in 2009.<\/p>\n
He was named central bank governor of the year in 2010 by Banker magazine.<\/p>\n
Nigeria is one of the world’s biggest oil producers but the sector is marred by widespread allegations of theft and corruption.<\/p>\n
Anti-corruption credibility<\/strong><\/p>\n In February, Mr Sanusi told a senate committee that out of $67bn of oil sold between January 2012 and July 2013, $20bn had not been accounted for.<\/p>\n The Nigerian National Petroleum Corporation said the allegations showed “little understanding of the technicalities of the oil industry”.<\/p>\n Mr Sanusi is currently in Niger attending a meeting of regional central bank heads.<\/p>\n He is to be replaced by his deputy, Sarah Alade, who is travelling with him.<\/p>\n President Jonathan asked him to resign in December but Mr Sanusi refused, sources told the BBC Hausa service.<\/p>\n The president does not have the power to sack the central bank governor – only the National Assembly can do this.<\/p>\n His term in office was due to end in June but correspondents say the decision to suspend him now is still very significant.<\/p>\n The presidential statement announcing his suspension said he had been removed pending “investigations into breaches of enabling laws, due process and mandate” of the Central Bank of Nigeria.<\/p>\n BBC Abuja editor Bashir Saad Abdullahi says news of his suspension could further damage the anti-corruption credibility of President Jonathan’s administration.<\/p>\n <\/p>\n Source : BBC<\/p>\n","protected":false},"excerpt":{"rendered":" Nigeria’s central bank governor Lamido Sanusi has been suspended by the president pending investigations into “far-reaching irregularities”. Mr Sanusi caused shockwaves in Nigeria when he alleged that $20bn (\u00a312bn) in oil revenue had gone missing. Nigeria’s state oil firm has denied failing to account for the money, saying the claim was “unsubstantiated”. Mr Sanusi is […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n