Don't Miss

I will not renew my contract with Central Bank – Sanusi

By on March 21, 2013

The governor of the Central Bank of Nigeria (CBN), Mallam Lamido Sanusi Lamido has said that he will not renew his contract when it expires.

According to a report by, Sanusi said he was never interested in staying longer than a term.

After an audit found evidence of mismanagement of funds by some banks, Sanusi fired the MD’s of eight banks, in recent times he has been able to push stability in the currency and help bring inflation down.

Speculations by industry watchers have pointed to the Managing Director, Access Bank Plc, Mr Aigboije Aig Imoukhuede, as a successor of the CBN governor.

Meanwhile, the Naira depreciated to the lowest in almost a week as the CBN offered fewer dollars at an auction, offsetting its decision to hold the key lending rate at a record high to support the currency.

The currency fell by 0.2 per cent to N158.95 per dollar, according to data compiled by Bloomberg.

The CBN sold $280m at its auction on Wednesday less than the $300m given out at the previous sale on March 18.