President Goodluck Jonathan says the recent suspension of the Central Bank of Nigeria (CBN) Governor, Mallam Sanusi Lamido, is not a "political" action.

Speaking during a Presidential Media Chat held at the Aso Villa, Abuja, on Monday, President Jonathan said Sanusi was suspended to enable the Financial Reporting Council carry out a thorough investigation in its audit of the bank's financial activities.

He pointed out that Sanusi's tenure is due to end in June, and, he could make a return before then if he is cleared of any wrongdoing.

"The issue of suspension and removal are very different. Sanusi remains the CBN governor, which is why we have not named a substantive governor. What we have now is an acting CBN governor. He cannot be there while investigation goes on. If he is cleared, he will surely return to see out his tenure."

Asked whether he has the power to suspend or remove a CBN governor from office, he said: "Of course, I have absolute powers to do that. The CBN is not properly defined in the constitution and the CBN Act is ill-conceived."

Jonathan however stressed that Sanusi's removal will not affect the Nigerian financial and economic system.

It could be recalled that the governor was suspended last Thursday on allegations of financial recklessness and misconduct, which was cited in a report submitted to the President by the Financial Reporting Council of Nigeria.

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