Sanusi Lamido Sanusi Biography & Net Worth

3 years ago

Sanusi Lamido Sanusi Biography & Net Worth

Muhammadu Sanusi II is a member of the Dabo royal family of Kano. He was the 14th Emir of Kano from the Fulani Sullubawa clan, ascending the throne on 8 June 2014, following the death of his grand uncle Ado Bayero. He was dethroned on 9 March 2020 by Governor Abdullahi Ganduje.

Sanusi Lamido Sanusi Background

Muhammadu Sanusi II, popularly known as Sanusi Lamido Sanusi, was born on the 31st of July, 1961, into the Fulani Torobe (Sullubawa) clan of Kano. His late father – Ambassador Aminu Sanusi, was a diplomat; the Nigerian Ambassador to Belgium, China, and Canada; and the Permanent Secretary of the Federal Ministry of Foreign Affairs.

Sanusi attended primary school at St. Anne’s Catholic Primary School, Kakuri, Kaduna, from 1967 to 1972. Afterwards, he proceeded to King’s College, Lagos, for his secondary education, and graduated in 1977.

Thereafter, he got admission into Ahmadu Bello University (ABU) Zaria to study economics, and graduated in 1981, with a BSc in economics. Sanusi Lamido obtained his master’s degree in economics from the same school in 1983.

He also obtained a degree in Islamic law at the International University of Africa, Khartoum.

Sanusi Lamido Sanusi is married to Sadiya Ado Bayero, Rakiya Sanusi, Maryam Sanusi, and he is blessed with children.

Sanusi Career

The banking guru was posted to Gongola State (now Adamawa, and Taraba States) for his one-year National Youth Service Corps (NYSC). After his service year in 1985, Icon Limited – a subsidiary of Morgan Guaranty Trust and Barings Bank employed him as a banker.

He left in 1997 and joined the United Bank for Africa (UBA). He started working with UBA as a staff in the credit and risk-management department and grew to the general manager position.

Having attained a top management position at UBA, he left the bank to become a board member at First Bank of Nigeria. He was also an executive director in charge of risk and management control in September 2005.

In January 2009, Sanusi Lamido became the Group Managing Director (CEO) of First Bank of Nigeria, making him the first Northerner to take on the role of the CEO of First Bank. At the time he was appointed CEO of First Bank, Sanusi Lamido was also Chairman of Kakawa Discount House.

President Umaru Musa Yar’Adua nominated Sanusi Lamido as the governor of the Central Bank of Nigeria, on the 1st of June 2009. The Nigerian Senate confirmed his appointment as CBN governor, on the 3rd of June 2009, during a global financial crisis. Sanusi Lamido is well-known for his contribution to a risk-management culture in the Nigerian banking industry.

As Governor Of CBN

In August 2009, Lamido Sanusi injected ₦400 billion of public funds to save Afribank, Intercontinental Bank, Union Bank, Oceanic Bank, and Finbank. He further dismissed the CEOs of the banks for mismanagement of funds and high level of non performing loans.

During his tenure as CBN governor, he carried out extensive reforms termed – Sanusi Tsunami. He carried out these reforms in a bid to overcome the vested interests attacking the Nigerian financial sector.

Sanusi Lamido’s blueprint for the reform in the banking sector is centred around four pillars, which include enhancing the quality of banks, establishing financial stability, enabling healthy financial sector evolution, and ensuring that the financial sector contributes to the real economy.

As regards Sharia authority, the banker turned traditional ruler, believes Islam should only bring justice to people and should not be used for selfish political agendas.

As Emir Of Kano

On the 8th of June 2014, Sanusi Lamido was selected to succeed his granduncle – Ado Bayero, as the Emir of Kano, and was crowned Emir Muhammadu Sanusi II on the 9th of June 2014.

As such, he became the 14th Emir of Kano, and leader of the Tijaniyya Sufi order – this is the second most important Muslim position in Nigeria, after the leader of the larger Qadiriyya Sufi order, held by the Sultan of Sokoto.

The Governor of Kano State – Abdullahi Ganduje, weakened Sanusi Lamido’s powers as the Emir of Kano state on the 8th of May 2019, by creating four new Emirates. The new Emirates were created for Gaya, Bichi, Karaye, and Rano. As such, the Emir of Kano will oversee only 10 Local Government Areas, out of the 44 LGA’s in the state.

Awards And Nominations Of Sanusi Lamido

National Award of Commander of the Order of the Niger (CON)
The Banker Magazine, London, named him Global Central Bank Governor of the Year – 2010
Central Bank Governor of the Year for Africa by The Banker Magazine, London – 2011
Time magazine listed him on its list of the 100 most influential people – 2011
Africa Person of the Year by Forbes magazine – 2011
Named as one of the 100 most influential people in the world by TIME Magazine – 2011
Honouree at the third Global Islamic Finance Awards (GIFA) in Dubai for his advocacy in promoting Islamic banking and finance during his tenure as governor of the Central Bank of Nigeria – 2013
Central Bank Governor of the Year Award at the African Bankers Award – 2013
Global Leadership in Islamic Finance Award as the fifth GIFA Laureate – 2015
Ekiti State University conferred Sanusi Lamido with the award of doctorate degrees, Honoris Causa, for his immeasurable contributions to academic, philanthropy and humanitarian gestures – 2017
Recipient of the Young Entrepreneurs of Nigeria (YEN) Man of the Year Award – 2018