Nigeria’s Sanusi Files Lawsuit Challenging Suspension From Bank

Lamido Sanusi, Nigeria’s ousted central bank governor, filed a court challenge against his suspension by Nigerian President Goodluck Jonathan.

The action was filed at the Federal High Court in the capital, Abuja, Owolabi Odekunle, a partner at Sanusi’s legal representatives Kola Awodein and Co., said in an e-mailed reply to questions today. While Sanusi said last week he won’t return to the job, he intends to fight his suspension in court to ensure the independence of future central bank governors.

Jonathan suspended Sanusi four months before the end of the governor’s five-year term, accusing him of “financial recklessness and misconduct.” It followed calls by Sanusi, 52, for an investigation into the state-owned Nigerian National Petroleum Corp. for allegedly withholding billions of dollars of oil revenue.

Jonathan defended his suspension of Sanusi on Feb. 24, saying he could return if cleared of allegations. He defended the autonomy of the Central Bank of Nigeria, saying he opposed a bid by lawmakers last year to weaken the bank’s powers because it sent the “wrong signals” to investors.

 

Source: Bloomberg (by Chris Kay)

Comments are closed.