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Blackstone Hires Former Nigeria Central Bank Governor Sanusi

Blackstone Hires Former Nigeria Central Bank Governor Sanusi

Former Central Bank of Nigeria governor, Lamido Sanusi, has joined Investment firm Blackstone and will now head it sub-Saharan Africa energy infrastructure fund as the chairman of its board of directors, the private equity firm announced on Thursday.

Blackstone Group, which is expected to sink a sizeable investment in the West African country, is looking to strengthen its ties with Nigeria after it joined with Aliko Dangote, Africa’s richest man according to Forbes, in a $5 billion energy infrastructure project plan.

The plan that is spread over a five year period is part of US President Barack Obama’s Power Africa initiative that matches private capital with energy need on the continent.

“Emir Sanusi has a comprehensive mastery of the interdependence of Africa with the global economy,” Mimi Alemayehou, chair of Blackstone African Infrastructure and managing director at Black Rhino, said in a statement.

“He has the courage and integrity necessary to give us the full, candid and impartial counsel that a long-term investor in Africa needs. We are gratified and, indeed, privileged to have a partner of such immense stature alongside us as we chart our course.”

Sanusi was suspended as the central bank governor last year, buy the immediate former President Gooodluck Jonathan, after he raised concerns over loss of billions of dollars through the national petroleum company.

His allegations prompted president Jonathan to order a “forensic audit” of the oil revenues.

After being ousted from the central bank last year, Sanusi was appointed the Emir of Kano, a ceremonial but influential post guiding Muslims in Nigeria’s north.

“The Emir has unparalleled insights into Africa’s regional and local socio-economic development needs and the role that power and infrastructure development can play,” said Brian Herlihy, Black Rhino’s Founder and CEO.

“We know as Chairman of Black Rhino, the Emir will provide business as well as moral guidance in all our endeavors across Africa. It is an honor and a privilege to announce His Highness, the Emir of Kano as the Chairman of Black Rhino.”