Sanusi’s deputy, Moghalu, moves against him; says suspended CBN governor overstepped his mark

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 stint at the regulatory bank.
A deputy governor at the bank and once a leading contender to replace Mr Sanusi, Kingsley Moghalu, told the U.K. Independent newspaper that his boss overstepped his authority.
“The lesson that can be drawn from it is the limits of central bank independence… There is a very thin line between central bank independence and… political posturing,” Mr Moghalu said.
According to the Nigerian presidency, Mr. Sanusi was suspended on the strength a report by the FRCN, indicting him for financial recklessness.
But Mr. Sanusi said Read More

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