Reuters - Video

Edition: US | UK | IN | CN | JP

Video

Nigeria Bank gov challenges suspension

Thursday, February 20, 2014 - 02:59

Feb. 21 - Nigeria's Central Bank governor Lamido Sanusi, suspended by President Goodluck Jonathan for ''financial recklessness'', wants to challenge his suspension. Sanusi had been presenting evidence to parliament, accusing the state oil company of fraud. Rough Cut only - no reporter narration

▲ Hide Transcript

View Transcript

ROUGH CUT (NO REPORTER NARRATION) Nigeria's suspended Central Bank governor, Lamido Sanusi, has challenged President Goodluck Jonathan's decision to remove him for "financial recklessness". Speaking to a Nigerian TV channel, Sanusi described the central bank an independent institution and questioned the legality of the move. He explained that the Senate is unable to remove the Governor without two-thirds of the Senate. Sanusi says he does not want future governors to lose their independence over fears of being suspended. Sanusi had become an increasingly outspoken critic of the government's record on tackling rampant corruption in Africa's leading energy producer. Sanusi, who was due to end his term in June, had been presenting evidence to parliament that he said showed the state oil company Nigeria National Petroleum Corporation (NNPC) failed to remit 20 billion US dollars that it owed to federal government coffers. NNPC has repeatedly denied Sanusi's allegations. Sanusi believes the focus should be on the NNPC and the missing money. On Thursday, currency, bond and money markets stopped trading because of the uncertainty created by the suspension. Trading in the naira currency resumed later in the day, after the central bank intervened with dollar sales. Deputy Governor Sarah Alade has been appointed acting governor.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Nigeria Bank gov challenges suspension

Thursday, February 20, 2014 - 02:59