The political decision of President Jonathan Goodluck to suspend the governor of the Nigeria's central bank, Lamido Sanusi yesterday is not just as simple as many Nigerians think or take it to be. This is not just another day in the Aso Rock villa or a business as usual. The central bank of Nigeria is in charges of the Nigerian Naira, foreign reserves, the amount of money in supply or circulation, interest rates and also oversees the commercial banking system.
The international bankers in the World Bank, IMF, Paris Club, London Club, International Development Bank, Islamic Development Bank, African Development Bank and the new rising China in which Nigeria is their major customer and borrowing nation are all watching this political development that happened in Nigeria with keen interest and most likely their own official reactions.
Side by side, the stock exchanges and the global markets around the world including the foreign investors into the Nigeria's economy are all fully interested in this political uncertainty that is going on in Nigeria.
These international financial agencies, stock exchanges and markets are all fully aware that Lamido Sanusi was suspended after he publicly accused the government of Jonathan Goodluck of stealing between $10 to $20 billion of the Nigeria's oil money from the NNPC. The voice of Lamido Sanusi is the voice that the world recognizes as far as the Nigeria's economy is concerned. The sudden suspension of this international banker yesterday has already caused huge panic in the international markets and resulted immediately in the major crash of the international value of the Nigerian Naira in one day from N163 to N170 to the one US dollar.
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