Outgoing Central Bank Governor Mallam Lamido Sanusi says his suspension was as a result of his speaking out against the corruption in the system.
Sanusi was not in the country when his suspension was announced. The Naira dropped against the dollar and is trading at N169/$1 as at the time of this report, the bond market is also on pause as traders are afraid there will be a huge sell off.
Many international and local observers are of the opinion that his removal is as a result of a witch hunt due to his outspokenness against government waste at the Nigerian National Petroleum Corporation.
Sanusi told CNBC Africa that the President does not have the constitutional authority to remove him from office.
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