CBN Governor, Sanusi Lamido Sanusi
Nigeria’s Central Bank Governor, Sanusi Lamido Sanusi, will be forced to leave his post in March, 2014, two months before the formal expiration of his tenure. Two sources at the Presidency and a source at the Central Bank revealed that Mr. Sanusi has been ordered to proceed on a post-retirement leave in March.
All three sources concluded that the early exit for the CBN henchman was occasioned by Mr. Sanusi’s recent leaked letter to President Goodluck Jonathan detailing the theft of close to $50 billion in oil proceeds by the Nigerian National Petroleum Corporation (NNPC). Last week, Mr. Sanusi revised the figure of missing funds down to $12 billion, but the damage to the Jonathan Presidency is considered massive.
I learnt that Mr. Jonathan has concluded plans to speedily replace the CBN governor whom the president believes set out to embarrass his government.
One of the sources at the Presidency hinted that, although Mr. Sanusi’s allegations were substantially accurate, the CBN governor was forced to back down from the more damaging aspects of his claims after the president’s associates threatened to make an issue of his reckless spending and philandering.
“Once Sanusi found out that the Presidency was determined to deal with him, both through the media and by instigating the EFCC to look into his spending habits, he was willing to retreat and to accept an early departure,” the source said.
Sanusi's term as Nigeria’s Central Bank governor is due to expire in May 2014. Analysts believe that the forced post-retirement leave is synonymous with a sack, as no public service rules made it mandatory for a public servant to proceed on a post-retirement leave before retirement.
Mr. Sanusi's tenure has been characterized with lots of controversies.
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