Born on 24 September 1938 in Ogbagi-Akoko, Ondo State, Nigeria. Chief Sanusi studied at
South-West London College and Kingston College of Technology, England from 1962 to 1965, qualifying as a Chartered Accountant.
He became a member of the Institute of Chartered Accountants of Nigeria (ICAN) in 1969,
and became a fellow of the Nigerian Institute of Bankers in 1987.
He joined the Central Bank of Nigeria (CBN) in 1966 as a Deputy Manager, He became a Departmental Director in 1977, Chief Executive of the Securities and Exchange Commission (1978–1979), Executive Director, Monetary and Banking Policy (1979–1984), and Deputy Governor (1988–1990).
Sanusi left the CBN to become managing director and Chief Executive of United Bank for Africa (1990–1992), then managing director and Chief Executive of First Bank of Nigeria (1992–1998). He was also Vice-Chairman of Nigeria Merchant Bank and Chairman of Banque Internationale du Benin.
