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Nigerian President Suspends Sanusi After Missing Oil Claims

Nigerian President Goodluck Jonathan suspended central bank Governor Lamido Sanusi in a surprise move that halted bond trading and sent the naira to a record low, after his accusations of missing oil revenue sparked a public outcry and criticism against the government.

Sanusi, 52, was suspended for alleged “financial recklessness and misconduct,” Jonathan’s spokesman Reuben Abati said in an e-mailed statement. He will be replaced by his deputy, Sarah Alade, as acting governor. Zenith Bank Plc Chief Executive Officer Godwin Emefiele was nominated by Jonathan to succeed Sanusi when his term ends in June, according to a letter the president sent to the Senate.