Thursday 20 February 2014

Goodluck Jonathan Suspends Lamido Sanusi As CBN Governor & Appoints Sarah Alade

Lamido Sanusi: Aturu, a lawyer says removal illegal
Sanusi lamido
Sarah Omotunde Alade
Sarah Omotunde Alade
Nigeria’s President Goodluck Jonathan on Thursday morning sacked Lamido Sanusi, as Governor of Central Bank of Nigeria, CBN.
The President also appointed Mrs Sarah Alade, Deputy Governor, Central Bank to act as CBN Governor.
Sanusi had in the past few months been involved in controversies over allegations of missing funds between the Nigeria National Petroleum Corporation, NNPC and the Federal Ministry of Finance.
But in a statement signed by Reuben Abati, the special adviser to the President on media and publicity, the President said the sack of the Minister was based on the report of “Financial Reporting Council of Nigeria and other investigating bodies, which indicate clearly that Mallam Sanusi Lamido Sanusi’s tenure has been characterized by various acts of financial recklessness and misconduct which are inconsistent with the administration’s vision of a Central Bank propelled by the core values of focused economic management, prudence, transparency and financial discipline.”
“Being also deeply concerned about far-reaching irregularities under Mallam Sanusi’s watch which have distracted the Central Bank away from the pursuit and achievement of its statutory mandate; and
“Being determined to urgently re-position the Central Bank of Nigeria for greater efficiency, respect for due process and accountability, President Goodluck Ebele Jonathan has ordered the immediate suspension of Mallam Sanusi Lamido Sanusi from the Office of Governor of the Central Bank of Nigeria.
“President Jonathan has further ordered that Mallam Sanusi should hand over to the most senior Deputy Governor of the CBN, Dr Sarah Alade who will serve as Acting Governor until the conclusion of on-going investigations into breaches of enabling laws, due process and mandate of the CBN.
“The President expects that as Acting Governor of the Central Bank, Dr. Alade will focus on the core mandate of the Bank and conduct its affairs with greater professionalism, prudence and propriety to restore domestic and international confidence in the country’s apex bank.
“The Federal Government of Nigeria reassures all stakeholders in Nigeria’s financial and monetary system that this decision has been taken in absolute good faith, in the overall interest of the Nigerian economy and in accordance with our laws and due process,” the President concluded in the statement.
Dr. Sarah Omotunde Alade (OON), appointed acting governor of the Central Bank of Nigeria, by President Goodluck Jonathan today, has been the Deputy Governor, Economic Policy for the bank since 2007.
She is in her late 50s.
She replaces Sanusi Lamido Sanusi, who has been the governor the past four years.
She attended the University of Ife, Ile-Ife (now Obafemi Awolowo University) where she obtained a B.Sc (Hons) degree in Economics in 1976. She also obtained an M.Comm degree at the University of Melbourne, Melbourne, Australia in 1983 and a Ph.D Management Science (Operations Research), from the University of Ilorin in 1991.
She started working in 1977 with the Ministry of Finance and Economic Development, Ilorin, Kwara State. In 1991, she joined the University of Ilorin as a Lecturer in the Department of Accounting and Finance.

Sarah Omotunde Alade
Sarah Omotunde Alade
She joined the Central Bank of Nigeria in 1993 as an Assistant Director in the Research Department where she served as Head, State Government Finance Office (1993-1996), Head, Federal Government Finance Office (1996-2000) and Head, Fiscal Analysis Division (2000-2004).
Dr. Alade has served on the teams on major economic policy studies, and has been involved in the preparation of Central Bank of Nigeria’s Monetary and Credit Policy Proposals over the years. She was actively involved in the drafting of the Medium Term Economic Programme (MTP) for Nigeria and the IMF staff Monitored Programme/Standby Arrangement.
She was appointed Director, Banking Operations Department in May 2004. In that capacity, she served as Chairman Board of Directors, Nigeria Interbank Settlement System (NIBSS) as well as Secretary, National Payments System Committee (NPSC).
Dr. Alade was a member of the Technical committee of the Vision 2010 and currently a member of the Technical Committee of Vision 2020 and member of the National Economic Management Team (EMT).
She is married and has children.
.Source: CBN website, PM News

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