AN earthquake hit Nigeria’s financial sector yesterday.
President Goodluck Jonathan suspended
Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi from office,
appointed Dr Sarah Alade as Acting Governor and named Zenith Bank
Managing Director Godwin Emefiele as governor – subject to the Senate’s
confirmation.
The naira dropped six kobo against the
dollar, the Stock Exchange closed and there was outrage over the
suspension. President Jonathan was under attack for suspending a
whistle-blower.
Sanusi, who is due to step down on June
2, was suspended precipitately due to “various acts of financial
recklessness and misconduct”, according to a statement by presidential
spokesman Reuben Abati.
But Minister of Finance Dr. Ngozi
Okonjo-Iweala assured all that the CBN’s monetary policies under the
suspended governor would continue.
