Low-profile conservative to run Nigeria’s top bank
March 04, 2014 00:00:00
LAGOS, Mar 3 (AFP) : Nigeria has lined up a relative unknown to head its central bank after the outspoken former governor was suspended, causing shockwaves in Africa's second-largest economy and markets to wobble. Zenith Bank boss Godwin Emefiele had almost no profile outside the banking sector until his name was put forward to succeed Lamido Sanusi, who was removed over charges of financial recklessness.
Sanusi had been embroiled in controversy for months after he accused the state Nigerian National Petroleum Corporation of misappropriating $20 billion (14.5 billion euros) of public funds.
The former governor, whose term was due to expire in June, was widely applauded by local and foreign economists for overhauling a rotten banking sector and stabilising the currency. But his views on alleged corruption earned him powerful political enemies. The presidency explained his suspension as the result of financial imprudence at the helm of the apex bank.