Skip to main content

Nigeria central bank head Lamido Sanusi ousted

Lamido Sanusi, Nigeria's Central Bank governor, in October 2013

Nigeria's central bank governor Lamido Sanusi has been suspended by the president pending investigations into "far-reaching irregularities".
Mr Sanusi caused shockwaves in Nigeria when he alleged that $20bn (£12bn) in oil revenue had gone missing.
Nigeria's state oil firm has denied failing to account for the money, saying the claim was "unsubstantiated".
Mr Sanusi is widely respected after undertaking reforms to the banking sector since his appointment in 2009.
He was named central bank governor of the year in 2010 by Banker magazine.
Nigeria is one of the world's biggest oil producers but the sector is marred by widespread allegations of theft and corruption.
Anti-corruption credibility
In February, Mr Sanusi told a senate committee that out of $67bn of oil sold between January 2012 and July 2013, $20bn had not been accounted for.
The Nigerian National Petroleum Corporation said the allegations showed "little understanding of the technicalities of the oil industry".
Mr Sanusi is currently in Niger attending a meeting of regional central bank heads.
He is to be replaced by his deputy, Sarah Alade, who is travelling with him.
President Jonathan asked him to resign in December but Mr Sanusi refused, sources told the BBC Hausa service.
The president does not have the power to sack the central bank governor - only the National Assembly can do this.
His term in office was due to end in June but correspondents say the decision to suspend him now is still very significant.
The presidential statement announcing his suspension said he had been removed pending "investigations into breaches of enabling laws, due process and mandate" of the Central Bank of Nigeria.
BBC Abuja editor Bashir Saad Abdullahi says news of his suspension could further damage the anti-corruption credibility of President Jonathan's administration.

Comments

Popular posts from this blog

Top 20 Most Asked Third Party Risk Questions for Vendors  These questions help organizations assess the overall risk posed by third-party vendors, covering critical areas like data protection, regulatory compliance, and incident response. Here’s a list of the Top 20 Most Asked Third-Party Risk Management (TPRM) Questions for Vendors in TPRM questionnaires: 1. What types of sensitive data do you handle for our organization? Vendors should clarify the types of data they collect, process, or store, such as personal information, financial data, or intellectual property. 2. How do you protect data at rest and in transit? This question probes into the encryption methods, protocols, and security controls in place for safeguarding data during storage and transmission. 3. Do you have a formal Information Security Program in place? Vendors should describe their overall cybersecurity framework, including policies, procedures, and governance. 4. How do you manage user access to our data and s...
MY PEOPLE PLEASE I NEED YOUR ADVICE   Robbers enter a house, asks for all the money and valuables. After they collect what they can, they give the man of the house a gun with instructions to shoot his wife or else he be shot himself. The man gets the gun, points it at his wife and hesitates. He is thinking of what he has gone through in life with his wife and how she has suffered and sacrificed for him. He hands back the gun and says, “I am sorry I can’t do this… “The boss of the robbers silently grabs the gun from him and passes it on to the wife with the same instruction. The wife gets the gun and without any single hesitation points to her husband’s head and pulls the trigger. But alas, the gun had no bullets in it. The robbers get their gun and walk out of the house laughing. QUESTIONS FOR DISCUSSION 1. If you were the man in that house how would you react towards your wife? 2. If you were the wife, what explanation can you...

Microsoft Warns of Data Stealing Malware That Pretends to Be Ransomware

  Thursday - Microsoft warned of a "massive email campaign" that's pushing a Java-based STRRAT malware to steal confidential data from infected systems while disguising itself as a ransomware infection. "This RAT is infamous for its ransomware-like behavior of appending the file name extension .crimson to files without actually encrypting them," the Microsoft Security Intelligence team  said  in a series of tweets. The new wave of attacks, which the company spotted last week, commences with spam emails sent from compromised email accounts with "Outgoing Payments" in the subject line, luring the recipients into opening malicious PDF documents that claim to be remittances, but in reality, connect to a rogue domain to download the STRRAT malware. Besides establishing connections to a command-and-control server during execution, the malware comes with a range of features that allow it to collect browser passwords, log keystrokes, and run remote commands an...