Central Bank Governor, Sanusi Lamido Sanusi, forced to retire

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CDB findings shows that the days of Sanusi Lamido Sanusi as the Central Bank Governor is numbered, 
CBN henchman was occasioned by Mr. Sanusi’s recent leaked letter to President Goodluck Jonathan d
etailing 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.
It was learnt that President Jonathan has concluded plans to speedily replace the CBN governor whom
the president believes set out to embarrass his government. “[President] Jonathan thinks that Sanusi
Lamido Sanusi has been making erratic pronouncements recently calculated to demean the office of the
President,” said a source in the Presidency.


Presidency officials accused the CBN governor of leaking a private letter written to President Jonathan
in which Nigeria’s chief banker complained about fraud perpetrated by officials of the NNPC and the
Minister of Petroleum Resources, Diezani Alison-Madueke. Ms. Alison-Madueke is extremely close to the
president and is believed to be the arrowhead of Mr. Jonathan’s corrupt schemes, especially in the oil
sector.

One of the sources at the Presidency told SaharaReporters 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,” said our source.

Shortly after the CBN governor was effectively blackmailed and brought under control, he appeared
before the Nigerian Senate and reversed his position, claiming that the NNPC was only unable to
reconcile $12 billion of crude oil sale earnings.

It was shortly after Mr. Sanusi’s Senate appearance that President Jonathan ordered that the CBN
governor’s retirement should be fast-tracked. Mr. Sanusi, who is believed to nurse an ambition to
become the next Emir of Kano, had publicly stated that he does not intend to stay for another term.

His term as Nigeria’s Central Bank governor is due to expire in May 2014.

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