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This morning President Goodluck Jonathan suspended the Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi. Mr President has now appointed the managing director of Zenith Bank, Mr Godwin Emefiele as the new governor of Central Bank, submitting his name to the Senate for confirmation today.

If confirmed by the Senate, Mr. Emefiele will take over fully as the substantive governor in place of Mr. Sanusi whose tenure elapses in June 2014.
The president also nominated Adelabu Adebayo, current executive director at First Bank, as the deputy governor of the bank. He will succeed Tunde Lemo who retired as Deputy Governor of the regulatory bank in late 2013.

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