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Muhammadu Sanusi II
Muhammad Sanusi II (1).jpg
Emir of Kano
Reign 8 June 2014 – 9 March... moreMuhammadu Sanusi II
Muhammad Sanusi II (1).jpg
Emir of Kano
Reign 8 June 2014 – 9 March 2020
Coronation 7 February 2015
Predecessor Ado Bayero I
Successor Ado Bayero II
Born 31 July 1961 (age 58)
Kano, Northern Region, Federation of Nigeria
Spouse
See
Sadiya Ado Bayero
Maryam
Rakiya
Sa'adatu Musdafa
Issue
See
Aminu
Shaheeda
Saddiqa
Saliha
Ashraf
Muhammad Sanusi
Khadija
Aisha
Husna
Maryam
Muhammad Inuwa
Full name
Sanusi Lamido Sanusi
Regnal name
Muhammad Sanusi II
House Dabo
Father Aminu Sanusi
Mother Saudatu Hussain
Religion Sunni Islam
Muhammadu Sanusi II (Sanusi Lamido Sanusi; born 31 July 1961) was the 14th Emir of Kano from the Fulani Sullubawa clan. He ascended the throne in 2014, following the death of his granduncle Ado Bayero I. On 9 March 2020, he was deposed by Governor Abdullahi Ganduje.
Prior to his accession, Sanusi was an economist and banker. He served as the Governor of the Central Bank of Nigeria from 2009 to 2014, when he was suspended by President Goodluck Jonathan after raising the alarm on the US$20 billion NNPC scandal
Sanusi was born on 31 July 1961. His father was a Permanent Secretary in the Ministry of Foreign Affairs in the 1960s and his grandfather was Emir of Kano and Islamic Scholar, Alhaji Muhammadu Sanusi. Sanusi graduated from King's College Lagos in 1977 and studied at Ahmadu Bello University (ABU), Zaria earning a BSc in Economics in 1981. He then taught economics at ABU from 1983 to 1985. He also obtained a degree in Islamic law from International University of Africa, Khartoum.
Banking career
In 1985 Sanusi joined Icon Limited (Merchant Bankers), a subsidiary of Morgan Guaranty Trust Bank of New York, and Baring Brothers of London. He moved to the United Bank for Africa in 1997 in the Credit and Risk Management Division, rising to the position of a General Manager. In September 2005, he joined the Board of First Bank of Nigeria as an Executive Director in charge of Risk and Management Control, and was appointed Group Managing Director (CEO) in January 2009. He was also the Chairman, Kakawa Discount House and sat on the Board of FBN Bank (UK) Limited.Sanusi is recognized in the banking industry for his contribution towards developing a Risk Management culture in the Nigerian banking sector.[5] First Bank is Nigeria's oldest bank and one of the biggest financial institutions in Africa.[6] Sanusi was the first Northerner to be appointed CEO in First Bank's history of more than a century.
Governor of the Central Bank
Governor Lamido Sanusi speaking at Warwick Economics Summit
President Umaru Musa Yar'Adua nominated Sanusi as Governor of the Central Bank of Nigeria on 1 June 2009 and his appointment was confirmed by the Senate on 3 June 2009, in the middle of a global financial crisis.[8] Analysts believed that Sanusi's tempered mien would serve as a counterpoise to the more aloof disposition of his predecessor, Charles Chukwuma Soludo. Based on his past record it seemed probable that as governor of the central bank he would impose stricter controls.
In August 2009, the Sanusi led Central Bank of Nigeria to "rescue" Afribank, Intercontinental Bank, Union Bank, Oceanic Bank and Finbank by bailing them out with 400 billion naira of public money, and dismissed their chief executives. Some point to other factors including religious, ethnic and existing bank records and plans to say he in fact had a hidden agenda. He said "We had to move in to send a strong signal that such recklessness on the part of bank executives will no longer be tolerated." 16 senior bank officials faced charges that included fraud, lending to fake companies, giving loans to companies they had a personal interest in and conspiring with stockbrokers to boost share prices.[11] In September 2009 he said that 15 of the current 24 Nigerian banks might survive reform in the banking sector.
In a wide-ranging interview with the Financial Times in December 2009, Sanusi defended the extensive reforms that he had initiated since taking office, dubbed by some as the "Sanusi tsunami". Some believe that he had a personal vendetta against some of the bank CEO's while others point to proofs of mismanagement of funds by some of the CEO's most notably Cecelia Ibru as justification for the steps he implemented. He noted that there was no choice but to attack the many powerful and interrelated vested interests who were exploiting the financial system, and expressed his appreciation of support from the Presidency, the Economic and Financial Crimes Commission, the Finance minister and others.[13]
In January 2010 Sanusi said that banks will only want to give credit to the Nigeria’s Small and Medium Enterprises (SMEs) if the government gives adequate attention to the provision of infrastructure.
In January 2010 Sanusi admitted that since 2005 the Central Bank had not conducted routine examinations of the 14 banks allocated to it under the sharing arrangement with Nigerian Deposit Insurance Corporation... less