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Nigeria central bank head Lamido Sanusi ousted | Nigeria central bank head Lamido Sanusi ousted |
(35 minutes later) | |
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. | 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. | 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. | 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. | 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. | |