Sanusi Lamido Sanusi is a prominent Nigerian economist and Islamic scholar, widely recognized for his influential roles in the financial and traditional institutions of Nigeria. Born in Kano into a royal family, Sanusi has built a multifaceted career spanning banking, academia, and religious leadership. His estimated net worth exceeds $5 million (approximately ₦2.3 billion), placing him among the wealthiest and most influential individuals in Nigeria.
Career and Income Sources
Early Years and Education
Sanusi graduated with a Bachelor’s degree in Economics from Ahmadu Bello University (ABU), Zaria, in 1981. At age 20, he began earning through the National Youth Service Corps (NYSC), teaching at a girls’ boarding school in Yola, Adamawa State. During that period, the Nigerian minimum wage was about ₦300, equivalent to around $125 monthly—significantly higher in purchasing power than current earnings.
Academic Career
From 1983 to 1985, Sanusi returned to ABU Zaria for his master’s in Economics and worked as a junior lecturer. While salary figures from that period are unavailable, modern equivalents for junior lecturers in federal universities range from ₦100,000 to ₦150,000 monthly.
Entry into Banking
In 1985, Sanusi transitioned from academia to finance. He joined Icon Limited, a merchant bank, where he eventually became head of financial services and branch manager in Kano. His career in the financial sector solidified his professional profile before he moved to other major institutions.
Senior Roles at UBA and First Bank
During the 1990s, Sanusi worked at United Bank for Africa (UBA), rising to the role of General Manager. He later joined First Bank of Nigeria, handling risk management. In 2009, he became the bank’s Chief Executive Officer—the first person from northern Nigeria to lead First Bank, which had assets valued at ₦5.9 trillion at the time.
Central Bank of Nigeria (CBN) Governor
In June 2009, then-President Umaru Musa Yar’Adua appointed Sanusi as the Governor of the Central Bank of Nigeria. His tenure lasted until 2014. While his exact salary during this period is not publicly disclosed, CBN executives are among the highest-paid civil servants in the country. This position significantly boosted his wealth and public profile.
Emir of Kano and Religious Leadership
In 2014, Sanusi was named the 14th Emir of Kano, succeeding his granduncle Ado Bayero. As a first-class traditional ruler, he earned substantial stipends and allowances. In 2020, he was dethroned, but a year later, he was appointed as the spiritual leader (Khalifa) of the Tijaniyyah Sufi order in Nigeria, one of the most prominent Islamic sects in West Africa.
Business and Investment Ventures
Sanusi has served in leadership roles for several organizations, further diversifying his income. He chaired the Black Rhino Group, a Blackstone portfolio company focused on energy and infrastructure across Africa. He also led Babban Gona, a social enterprise supporting smallholder farmers in Nigeria.
Sanusi Lamido’s Assets and Spending
Car Collection
Sanusi is known for owning a range of high-value cars:
- Rolls-Royce Ghost – Estimated at ₦70 million, acquired during his time as Emir.
- Rolls-Royce Phantom VII (2016 model) – Valued around ₦60 million, bearing the custom plate “MS-1”.
Some of these vehicles were reported gifts from close associates, including billionaire Kola Kareem and businesswoman Bola Shagaya. He has also used other vehicles such as GMC Terrain, Toyota Fortuner, Toyota Hilux, Renault Duster, Mercedes-Benz E-Class, and Toyota Land Cruiser, particularly during his time as Emir.
Private Jet Access
While there’s no public record of Sanusi owning a private jet, reports suggest he has access to jets owned by wealthy associates like Aliko Dangote, Tony Elumelu, and Dauda Lawal.
Real Estate Holdings
Sanusi reportedly owns multiple properties, including:
- A residence in Kano, his hometown.
- A luxury home in Ikoyi, Lagos, one of Nigeria’s most expensive neighborhoods.
Claims that he owns a ₦1 billion mansion in Abuja were publicly refuted by the Central Bank. According to CBN, the property in question belongs to the bank, and during his tenure, Sanusi resided in a rented apartment covered by the institution.
Article updated 2 months ago. Content is written and modified by multiple authors.
