What can be said of one man, whom has achieved so much, home and abroad? Good
things, obviously, and Lamido Sanusi Lamido II being such a man, there’s barely anything
contrary to that fact.
And we’re in such a country that such virtues such as intellectualism and steadfastness is
rare by the day, it is refreshing to see that one man has upheld that to a good degree.
We would taking a peek into the life of such a man, whom has served in various capacities for the country, and how much he’s currently worth in money.
Consider this piece the biography and net worth of Sanusi Lamido Sanusi II, if you will. And shall we begin?
Even Great men have a beginning, and for Sanusi Lamido Sanusi II, it was just as humble.
He was born directly into the Fulani Torodbe (also known as Sullubawa) clan of Kano; he
was born on the 31st day of July, in the year 1961.
That’s one year after the independence of Nigeria, and not that it matters in the grand
scheme of things, but if we could just take a minute to ponder on the significance; Nigeria
was barely one year old in independence when Sanusi Lamido Sanusi was born, and
nobody had an idea what he’d turn out to be.
It goes to show how much hope the youth carries for a nation, despite the changes and
challenges it faces.
Nobody knows what would happen to the country in the future as of 1961, which turns out
to be so much different from what they must have envisioned at the time.
And of course, a few people knew Sanusi Lamido Sanusi outside of his friends and family;
and indeed, he came from a royal family, that didn’t give anyone an inkling of what he
would turn out to be, even though they prayed.
We think that in itself is inspiring, and others can simply take away from the fact that
nothing is exactly written in stone in a society; you’ve just got to rise up and make a
change whenever you can.
As far we know, Sanusi Lamido Sanusi II had his WASSCE (West African Secondary School
Certificate Examination) at King’s College, Lagos – that was in 1977.
From there, he proceeded to Ahmadu Bello University, Zaria; he bagged his Bachelor of
Science degree in Economics there in 1981.
He furthered on the course at the Master of Science degree level; from which he came out
with a distinction in Monetary Policy in 1983.
He went for his NYSC program in Gongola state (now known as Adamawa and Taraba
States), and started his working career in the same Ahmadu Bello University, Zaria as an instructor.
One could easily see the love for academics and consistency Sanusi Lamido Sanusi already
exhibited even at the earlier part of his life.
It could be safely said that Sanusi Lamido Sanusi’s career began in 1985, when he became
a merchant banker for Icon Limited (which is a merchant bank), a subsidiary of Morgan
Guaranty Trust Bank of New York and Baring Brothers of London.
He remained there till 1993, when he decided to join United Bank of Africa as a Principal
Manager in their Credit and Risk Management Division.
He worked consistently, and rose through the ranks to the position of the General Manager.
A good run with UBA , then he left there in September 2005 to become the
Executive Director of Risk and Management Control in First Bank of Nigeria PLC.
Then came his biggest break (at least as most Nigerians see it) in 2009; he was appointed
the Governor of the Central Bank of Nigeria on the 3rd of June, 2009; his nomination came
on 1st June 2009 from the then President Umaru Musa Yar’Adua, while his appointment was
confirmed by the senate on the 3rd.
It was during his tenure that a lot of noteworthy events happened, including his suspension
from office, which was effected by the then President Goodluck Jonathan on 20th March,
Sanusi Vs Goodluck Jonathan 2014
He was suspended for reportedly exposing a huge $20 billion fraud that had the president
and his associates in the Nigerian National Petroleum Company (NNPC) complicit.
His revelation on the topic opened the eyes of the people to the underground unabated
corruption that the government of that time condoned.
And while it is very much a revelation at the time for the majority of Nigerians, a lot of it
has been known on the foreign scene, through the pin-sharp efficiency of investigative
journalism that foreign news bodies have carried out.
We think it is that fact, coupled with innate intolerance for economic corruption, is what
prompted Sanusi Lamido Sanusi to out the phony deal.
Of course, as everyone would expect, there was a backlash, and those involved were going
to find ways to get even with Sanusi Lamido Sanusi, or at least save their skin from the
impending actions coming their way.
While we shall not be quoted anywhere on this, we think they found a way to make the
president get him out of office for it.
This might not be true, as there are no evidences to back that up that we know, but there are no evidences either that it didn’t happen.
If anything, the incidences are just too close to not raise suspicion; the sack was not
reflective of mismanagement or any other managerial incompetency on the part of Sanusi
Lamido Sanusi, and that’s what most Nigerians think is the more usual and normal cause for such a sack.
How Central Bank Saved 24 Commercial Banks in 2010
The government of the day did a good job of shrouding the causes for his sack in mystery.
Before his suspension however, he led a “rescue mission” for Afribank, Intercontinental
Bank, Finbank, and Oceanic Bank, which had them bailed out of dire straits with 400 Billion
Naira and their chief executives promptly dismissed.
This, and many other similar events, made Sanusi Lamido Sanusi known for his anti-
corruption moves in his industry.
The Bankers called him the Central Bank of the Year in 2010, for his efforts to save up to
24 banks from the jaws of mismanagement and collapse;
he went directly for the managers of those banks, whom are involved in corruption and
mismanagement and had them brought to book.
He has spoken at a lot of events, on the various banking reforms that have been
undertaken, or should be undertaken in Nigeria, and their impact on the overall economy of
Sanusi Lamido Sanusi II is a widely read person, and that is unsurprisingly evident in his
knowledge of the Sharia law.
He went ahead to obtain a degree in Sharia and Islamic Studies at the African International
University in Khartoum, Sudan in 1997.
He’s been an active player in Sharia law debate and the author of a paper on The Hudhood
Punishments in Northern Nigeria: A Muslim Criticism.
He also presented the Shari’a Debate and the Construction of a ‘Muslim’ Identity in
Northern Nigeria: A Critical Perspective, at a seminar held at the University of Bayreuth.
Of all the presentations and speeches Sanusi Lamido Sanusi has given on Shari’a Law, two
themes seem to stand out in his position on the topic.
He believes that Islam is more concerned about justice delivery rather than to be used as a
means to power political agendas.
He is also of the belief that Wahhabist fundamentalism is not in line with genuine Muslim
interests, simply because the Shari’a is not a divine concept, but a religious one which is
neither static nor regular.
There are no accurate ways to ascertain the net worth of Sanusi Lamido Sanusi but judging
by the evidences of choice assets, cars and properties, we could come up with an estimate.
Without a doubt, we believe he is one of the richest persons in and from Northern Nigeria.
If you want an actual number, we would give an estimation of $80 million.
But it can be safely assumed that this estimate is definitely less than the actual thing.
Going by what we’ve seen on social media and the internet, Sanusi Lamido Sanusi has
some of the choicest assets and acquisitions in the country; it isn’t exactly a bad thing for a
man with such immense affluence to indulge himself.
It is pretty hard to do away with controversy completely, and for a man like Sanusi Lamido
Sanusi, it is even harder.
He became the Emir of Kano, and was formally crowned as Emir Muhammed Sanusi II on
9th day of June, 2014.
Coincidentally, this was in succession to the emirship of late Dr. Ado Bayero, whom passed
away on the 6th of June 2014, and was the grand uncle to Sanusi Lamido Sanusi.
His coronation as an emir of Kano made him the leader of The Tijjaniyya Sufi order, which
has historically been regarded as the second highest Muslim position.
The highest being the Sultan of Sokoto and the leader of the Qadriyya Sufi order.One time
in 2014, he had a dispute the Boko Haram terrorist group, whom he alleged were
responsible for the bombing incident at the Kano Mosque (the seat of power for the emirate).
The incident killed 150 people, and the terrorist group counter-accused Sanusi Lamido
Sanusi of moving away from Islam, and made a threat to kill Sanusi Lamido Sanusi shortly
after Sanusi Lamido Sanusi II primed his followers for a fight if the need arises.
We all can imagine what that must have felt like, to have the most notorious terrorist
kingpin threaten you; but kudos to the fact that he was able to keep his cool for most part
and not allowing the case to escalate beyond control.
Sanusi Lamido Sanusi II was recently dethroned from the position of the emir of Kano, on
the 9th of March, 2020 to be precise.
He was removed by the state governor, Dr. Abdullahi Ganduje whom effected the
dethronement in a press release put out to the secretary to the state government.
His dethronement was also announced in the presence of
the Kano Emirate kingmakers and the other stakeholders all converged at the Government
He was immediately replaced with HRH Aminu Ado Bayero, whom is the direct son to Late
Dr. Ado Bayero.
The press release stated that Sanusi Lamido Sanusi II was found to have breached
the part 3 section 13 (a-e) of the 2019 Emirate Law of Kano state, as well as refusing to
attend official meetings and programs that was organised by the government
“without any lawful justification” which is reflective of a total insubordination on the part of
Sanusi Lamido Sanusi.
It was a bit of controversial issue for most Nigerians, because Sanusi Lamido Sanusi II
has been known for his positive impact, especially during his time as the governor of the
Central Bank of Nigeria.
Social Media Reactions to His Dethronement
A lot of people have thoughts on the dethronement, and are of the opinion that the move is
deeply rooted in politics.
Going back a bit back into the development of the story, it is believed that Sanusi Lamido
Sanusi has been politically aligned with the current main opposition party back when they
were in power.
Then there was a change in tide of the government recently, and those who still aligned
with the opposition got the stick anytime Sanusi Lamido Sanusi stood with his political
affiliations, and was vocal about it (which isn’t a bad thing to do in anyway)
Along the line, he ran afoul of the present governor of Kano state, and the latter thought
that the former was saying more than he should about him.
By virtue of the fact that the governor is part of the ruling party, it is very fine to imagine
that he has the upper might over someone in the opposition end.
None of all of this is on paper, but we’ve been in the country long enough to realize how
things like these work on the grand scheme of things.
Politics, Corruption,Connection, Party, and Connections are all linked together in the
country, and that has been perfected to a point that everyone sees it, yet have no evidence
So, for the followers of the news, it must have been seen that there was a time that Sanusi
Lamido Sanusi spoke in the favour of the now-opposition party, to the chagrin of the ruling
That was the time when the opposition party was in government, and the now-ruling party
was trying its might to win power.
Their struggle for power paid off eventually, albeit a last minute one:
Nigerians didn’t really expect the now-opposition party to hold on for long,
given the now-ruling party is the ruling party at the federal level.
The moment the change happened, everyone got the memo and adjusted accordingly.
but certainly not Sanusi Lamido Sanusi, whom stood with his political
Sanusi Vs Ganduje
Now, logically, as a governor, if you have someone as powerful as the Emir of Kano still
supporting the opposition, it would definitely cause a lot of headaches.
On the other hand, for someone who is in the opposition party, it is much easier to
scrutinize the activities of the ruling party, and uncover some of the weakest ones.
Meanwhile for someone like Sanusi Lamido Sanusi, he could not kept quiet on some of
given the principles stood upon Sanusi Lamido Sanusi didn’t exactly keep mute about it,
and was huge headache for the governor of the state, whom presumably has enough on his
hands than to have the Emir of Kano gaslight him.
This meant that he has to be rid of, one way or another.
While we are not an authority to confirm or deny any of that, one thing that’s more evident
is the fact that the dethronement is a substantial hit on Sanusi Lamido Sanusi’s dignity.
With his dethronement, he was also banished from Kano, and for a while, relocate to
The King of a State vs the Governor of a State , who is more Powerful?
This brought to question the right that a governor of a state has to out-rightly dethrone a
king within the state.
It caused a huge debate online, and brought to light what people didn’t originally realize
about the extent of constitutional powers of a king in a state.
Historically, the king had such immense power, but that couldn’t continue for long under
What we do know, however, is that that governor has the constitutional power over kings.
Something about the executive power and other related constitutional lingo, but the point
is, the governor of Kano state is constitutionally authorized to dethrone a king as regal as
Sanusi Lamido Sanusi.
What’s left is the motive behind that dethronement: we can only base our assumption on
the press release, which gave insubordination as the reason for the dethronement.
But, that does not preclude the fact that there might be more underlying reasons than that.
Judging by the political history of the state, and the position that Sanusi Lamido Sanusi had
prior to his dethronement, it’s not entirely impossible to see the political undertones of the
While more radical opinions say the presidency might even be involved in the saga, there
are no concrete evidences to that effect.
But like they say “the absence of evidence, is not the evidence of absence”Unexpectedly,
Sanusi Lamido Sanusi has moved to take legal actions, which he has the right to do, and
that is still ongoing at the time of writing.
Other Notable works
Sanusi Lamido Sanusi is a prolific writer, and has presented at various conferences; both
nationally and internationally.
His papers dwell upon banking policies, politics, religion and society in general.
In 2004, he published “The New Capital Accord (Basel 2): The Standardized Approach to Minimum Capital Requirement under the First Pillar”.
That same year, he published “Managing Credit Risk under Basel 2”, “Bank Lending: Approval Administration & Control” and “The New Capital Accord (Basel 2): Challenges, Opportunities and Threats”.
In 2005, he published “Managing Risks in the Nigerian Financial Services Industry: An Operator’s Perspective” and “Framework for Sound Risk Management”.
In 2006, he presented “Practical Implementation Challenges for Audit of Risk Management in Emerging Economies” at the Hilton Hotel in Kenya.
It is safe to conclude that those are just some (a small fraction even) of the whole literary
works that he has.
He has also been known to speak quite vehemently on the tenets of Shari’a at events and
One thing that’s true about Sanusi Lamido Sanusi is that his presentations are entrenched
He’s arguably been the single most influential person from the northern part of the country,
and that has been by the academic and intellectual take he has on topical issues.
He has also been known to be quite reactive to corrupt practices, and that was evident
during the times he served as the Governor of the Central Bank of Nigeria.
He outed a phony $20 billion deal that involved NNPC and the then President Goodluck
Jonathan, regardless of what political affiliations he had at the time.
It is believed that this incident was what led to his eventual sack.
Now, people see a similarity in his recent dethronement too.
This piece is a little expose into the life of Sanusi Lamido Sanusi, and an idea of how much
he’s worth overall.
We also explore some of the things he has done for the country, and how that has affected
the economy and the politics of the day.
We give an idea of how one man can achieve so much, and still be the “good guy” in a
country where everyone’s credibility is questionable.Some parts of his story also shows us
how we can’t be without controversies once we set out to be different.
We do not say most of the things on any authority, and they are just opinions which have
been formed from the piece of information that we have.