Nigeria nominates new central bank governor after Sanusi suspension
Nigeria has nominated a new central bank governor in the wake of the suspension of Lamido Sanusi.
On Friday, managing director of Zenith bank Godwin Emefiele was nominated by the Nigerian government to replace Sanusi, who was due to step down in June but was suspended on Thursday for "financial recklessness and "far-reaching irregularities."
Earlier this month, Sanusi told a Senate committee that $20bn (£12bn) of the $67bn of oil sold between January 2012 and July 2013 had not been accounted for.
In 2009, Sanusi launched an inquest to clamp down on corruption in Nigeria's banking industry. The following year he was named central bank governor of the year by Banker magazine.
The Nigerian stock market is tanking and has fallen 0.7 per cent to a three month low.