Gist Arena

For the sake of those with slow Internet and date bundle issues, I have transcribed the major parts of suspended Central Bank Governor, Sanusi Lamido Sanusi's first interview after his suspension. He spoke to CNBC Africa. You can read the text below. On whether he was on notice with respect to his suspension: Well, I have been told by my office that a letter was received. As you know, I flew in this morning to Niamey along with other Governors of West African Central Banks to meet with the President of Niger and President of Ghana…Fortunately, I came in with my VP Sarah Alade whom I have been asked to hand over to. I have left the meeting to hand over to her. I have just met the Nigerian Ambassador to Niger who confirmed to me that the President asked him to inform me of the decision. On accusations of "various acts of financial misconduct and recklessness" he said: I don't know what they are talking about. When I come back, I will see what those allegations are…I do...

President Goodluck Jonathan has appointed Godwin Emefiele, who is the managing director of Zenith Bank, as the new governor of Central Bank. Mr. Jonathan submitted Mr. Emefiele's name to the Senate for confirmation Thursday hours after he announced the suspension of Sanusi Lamido as the CBN governor. The CBN's deputy governor, Sarah Alade, was named early Thursday as acting governor of the bank. Mr. Jonathan said if confirmed by the senate, Mr. Emefiele will take over fully as the substantive governor in place of Mr. Sanusi whose tenure elaspes in June 2014. The president also nominated Adelabu Adebayo as the deputy governor of the bank. Mr. Adebayo is current an executive director at First Bank. He will succeed Tunde Lemo who retired as Deputy Governor of the regulatory bank in late 2013. Below is Mr. Emefiele's profile as published on Zenith Bank's website. "He is the Group Managing Director, Zenith Bank Plc, a position he has held since August 2010. Until then h...

The leader of the extremist Boko Haram sect, Abubakar Shekau, has, in a video released to journalists, threatened more attacks against Nigeria, saying his members would target Nigeria's sources of revenue, and her refineries. Mr. Shekau, a fugitive, who is wanted for terrorism by both Nigeria and the U.S., also vowed to kill major Islamic clerics and people that support democracy, western education, and Christianity. He said the state of emergency currently in place in Adamawa. Borno, and Yobe, could not deter his group, and called on his members in other states, particularly Kano, to attack civilians and government institutions. Read his statement below: "My brethren…you should hold on to your weapons and continue fighting. Let them understand that our work is not confined to Yobe, Borno and Adamawa (states). Make them understand that we are not restricted by emergency rule. They should understand we are under the canopy of Allah. "This is the beginning. Yes, th...

Nigeria's President, Goodluck Jonathan has suspended the country's Central Bank Governor, Sanusi Lamido Sanusi, from office. Mr. Jonathan Thursday morning ordered Mr. Sanusi to hand over to the most senior Deputy Governor of the bank, Sarah Alade, who will serve as Acting Governor until the conclusion of ongoing investigations into alleged breaches of enabling laws, due process and mandate of  the Central Bank, Reuben Abati, Special Adviser to the President, Media and Publicity, has said. Mr. Abati, who broke the news on twitter less than an hour ago, gave a link to an official statement which the reason the president purportedly took the action. The statement said, "Having taken special notice of reports of the Financial Reporting Council of Nigeria and other investigating bodies, which indicate clearly that Mallam Sanusi Lamido  Sanusi's tenure has been characterized by various acts of financial recklessness and misconduct which are inconsistent wi...

Deal worth $16bn will give social-networking firm access to 450 million people who use the cross-platform mobile app.  Facebook, the world's biggest social-networking company, says it is buying the mobile messaging service WhatsApp in a deal worth $16bn.  The purchase, announced on Wednesday, will leave WhatsApp with its own independent board.  WhatsApp is a cross-platform mobile app which allows users to exchange messages without having to pay telecom charges.  It is Facebook's biggest acquisition and comes less than two years after Mark Zuckerberg's firm raised $16bn in the richest technology-sector public stock offering.  The purchase includes $12bn in Facebook shares and $4bn cash.  It calls for an additional $3bn in restricted stock units to be granted to WhatsApp founders and employees that will vest over four years.  "The acquisition supports Facebook and WhatsApp's shared mission to bring more connectiv...