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Nigerian president suspends central bank chief for recklessness

Published on Feb 20, 2014 5:44 PM

ABUJA (AFP) - Nigeria's president suspended central bank governor Lamido Sanusi on Thursday for alleged financial recklessness after Sanusi accused the state oil company of misappropriating US$20 billion (S$25.32 billion) of public funds.

Mr Sanusi, whose term was due to expire in June, became embroiled in controversy after he charged the Nigerian National Petroleum Corporation (NNPC) with gross mismanagement and corruption.

A statement from President Goodluck Jonathan's office said probes into Mr Sanusi's performance revealed that his "tenure has been characterised by various acts of financial recklessness and misconduct".

It announced his "immediate suspension" as the central bank boss. He is to be replaced by the bank's most senior deputy governor, Ms Sarah Alade.

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