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Emir Of Kano: Sanusi Lamido Sanusi – Net Worth And Biography
Sanusi Lamido Sanusi, also known as Muhammadu Sanusi II, is a distinguished Nigerian economist, former Central Bank Governor, and the 14th Emir of Kano. His life has been marked by significant contributions to Nigeria’s financial sector, advocacy for social justice, and a blend of modernity and tradition during his time as Emir. This blog explores his remarkable journey, achievements, and the controversies that have shaped his public persona, as well as his estimated net worth.
Early Life and Education
Sanusi Lamido Sanusi was born on July 31, 1961, into the royal Fulani family of Sullubawa in Kano, Nigeria. His grandfather, Emir Muhammadu Sanusi I, was the 11th Emir of Kano, while his father, Aminu Sanusi, served as a prince and diplomat. His mother, Saudatu Hussain, was a homemaker. Growing up in a privileged and intellectually inclined family, Sanusi was educated at some of the finest institutions in Nigeria. He attended King's College, Lagos, followed by Ahmadu Bello University, where he earned his bachelor’s and master’s degrees in Economics. His academic prowess laid the foundation for his future roles in Nigeria's financial and public sectors.
Career as Central Bank Governor
Sanusi's tenure as Governor of the Central Bank of Nigeria (CBN) from 2009 to 2014 marked a defining period in Nigeria’s financial history. He is widely credited for implementing reforms that strengthened the Nigerian banking system during the global financial crisis. When he took over as CBN Governor, the Nigerian economy was reeling from a near-collapse of its banking sector, with top banks involved in mismanagement and fraud. Sanusi led initiatives to rescue these institutions, injecting over ₦600 billion in public funds and forcing the removal of CEOs involved in malpractices.
One of Sanusi's most notable contributions was the "Sanusi Tsunami," a series of banking reforms aimed at stabilizing the sector, consolidating banks, and improving their quality. His policies also introduced Islamic banking in Nigeria, which met with both support and criticism. Under his leadership, the cashless policy was introduced to promote electronic transactions and reduce reliance on physical cash. Sanusi was recognized globally for these efforts, receiving accolades such as the "World's Best Central Bank Governor" award.
The Emir of Kano (2014-2020)
In 2014, Sanusi was appointed the Emir of Kano, following the death of his predecessor. As the 14th Fulani Emir, Sanusi sought to modernize the traditional institution while preserving its cultural heritage. He advocated for progressive causes, including education and women’s rights, which sometimes put him at odds with conservative elements in Kano society. He also promoted tourism by enhancing cultural sites and festivals in Kano, helping to restore the ancient city's artifacts and boosting its international profile.
Despite these achievements, his reign as Emir was not without challenges. Sanusi often criticized government policies, including excessive government spending, which led to tensions between him and the Kano State Government. His outspoken nature eventually led to his dethronement in March 2020 by Governor Abdullahi Ganduje, who cited disloyalty and insubordination as reasons for Sanusi’s removal. This marked the second time a member of the Sanusi family had been deposed from the Kano throne, as his grandfather had faced a similar fate decades earlier.
Personal Life
Sanusi is married to Sadiya Aminu, and they have three children: Shahida Sanusi, Muhammad Sanusi, and Aisha Sanusi. He is known for maintaining a relatively private personal life, despite his public roles. Sanusi’s marriage to an 18-year-old princess in 2015 drew media attention and criticism, but he defended his decision, citing cultural and religious precedents.
Controversies
Throughout his career, Sanusi has been involved in several controversies. One of the most serious allegations against him dates back to 1995 when he was accused of being complicit in the murder of Gideon Akaluka, a young trader accused of blasphemy. Sanusi has consistently denied these allegations, and no formal charges were brought against him. Nonetheless, the incident remains a point of contention in his public life.
Sanusi’s views on social and political issues have also sparked controversy. His progressive stance on education, women's rights, and government accountability often put him at odds with conservative leaders, particularly during his time as Emir. His opposition to the fiscal policies of the Nigerian government, as well as his criticisms of the National Assembly’s excessive spending, made him a polarizing figure in Nigerian politics.
Net Worth
Sanusi Lamido Sanusi’s net worth is estimated to be between $10 million and $80 million, depending on various sources. The bulk of his wealth is attributed to his successful career in banking, particularly his tenure as the Central Bank Governor, where he earned substantial salaries and bonuses. Additionally, his royal status and tenure as Emir of Kano likely contributed to his financial standing, although the exact figures regarding his earnings as Emir remain private.
Life After Dethronement
Since his dethronement, Sanusi has continued to remain active in public life. He has taken on roles in various organizations, including a position as Chancellor of the Kaduna State University. His focus on advocacy for good governance, education, and economic reforms remains steadfast. Despite the challenges he faced, Sanusi continues to command respect both in Nigeria and internationally for his contributions to the country’s financial and political landscape.
Legacy and Impact
Sanusi Lamido Sanusi’s legacy is multifaceted. As an economist, he helped steer Nigeria through a financial crisis and introduced reforms that reshaped the country’s banking sector. As a monarch, he worked to modernize the Emirate system and advocate for progressive causes. Despite the controversies and challenges, his intellectual rigor and commitment to public service have left a lasting impact on Nigeria. Today, he remains a prominent figure in discussions about governance, economic policy, and social justice in Nigeria.
Conclusion
Sanusi Lamido Sanusi’s life and career exemplify a blend of tradition and modernity. His contributions to Nigeria’s financial sector and his time as Emir of Kano have solidified his status as a key figure in the country’s history. With a net worth ranging from $10 million to $80 million, his influence extends beyond his financial standing, making him a symbol of intellectual and moral leadership in Nigeria.
