IslamicFinance.de

While suspended governor of the Central Bank of Nigeria, Lamido Sanusi, is trying very hard to clear his name from the indictment of financial recklessness by the Financial Reporting Council of Nigeria (FRCN) and the presidency, his colleagues appear to be gradually distancing themselves from actions taken during his reign at the regulatory bank. A deputy governor at the bank and once a leading contender to replace Mr Sanusi, Kingsley Moghalu, said that his boss overstepped his authority. Mr. Sanusi, however, said that he believed that his suspension was hastened after he threatened to commission a special audit of all Nigerian banks to unravel the whereabouts of the missing $20 billion. Ironically, the FRCN report also indicted that Mr Moghalu and his colleagues were also recommended for dismissal and prosecution.