Embattled Governor Of CBN Lamido Sanusi To Vacate Office April 1

Governor of Central Bank of Nigeria (CBN), Mallam Lamido Sanusi will proceed on retirement leave effective April 1st 2014, two months to the end of his tenure.

It would be recalled that President Umaru Musa Yar’Adua nominated Sanusi as Governor of the Central
Bank of Nigeria on June 1, 2009 and his appointment was confirmed by the Senate on  June 3, 2009. Hence
his five year tenure is scheduled to end on June 3rd 2014.

CENTRAL Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi
Contrary to speculations that he has been forced to immediately procede on retirement leave, Saturday
PremiumReporters investigations revealed that Sanusi will still
be CBN Governor till March 31st.
Though, when contacted, Director of Corporate Communications, Mr. Ugo Okoroafor said he was not
aware of the CBN Governor being forced to proceed on
retirement leave, a highly placed regulatory official,
who pleaded anonymity confirm that Sanusi is scheduled to proceed on terminal leave after March
31st. He however said this is normal, and it is not true
that the Governor is being forced to proceed on leave.

“It is a normal thing; some people go on six months, some on three months. So, there is nothing abnormal about it. You cannot force your Central Bank Governor
to go on leave, it could damage the economy”, the
source said.

But this did not apply to Sanusi’s predecessor, Professor Charles Soludo, who left office on May 29th,
when his tenure expired. A CBN source however said this was because Soludo was hoping he would be  appointed for a second term.

According to the source who pleaded anonymity, the issue of the governor going on retirement leave is a
normal thing for us.

It would be recalled that Sanusi had in a chat with Bloomberg on March 24th  indicated his intention not
to seek second term as CBN Governor.

Sanusi said that he had intimated President Goodluck Jonathan way back in 2011 that he would not be
interested in seeking second term in office on the expiration of the present tenure in June 2014.

“I informed the President way back in 2011 that I would not be interested in serving for two terms,” Sanusi told Bloomberg adding that “the job has been done, largely”.

In November, he called for earlier announcement of his successor, saying the Federal Government should take a cue from the United States and announce the next
CBN Governor three months to the expiration of his
tenure.

He said, “I think the issue of Bernanke and Yellen, if you remember, it started about two months ago and
Bernanke ends in December. Tomorrow it will be six
months to the end of my term, probably a bit early for
the government to start talking about the next person.
But I do hope that about two or three months before
then, there should be some announcement.

“Central bank governors don’t comment on who they
think their successor should be. It is not our business
to do that, it is the President’s decision.

But if I have input at all, I will try to encourage that we
announce a successor two to three months before the
end of my tenure so that everybody knows who that
person is, what the views are and so people prepare
accordingly.  By the way, some of the names are out
there in the newspapers and more  can come out
later.”

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