RM2bil land deal seals governor’s fate

Going out: (from left) Tan Sri Mohd Sidek Hassan is resigning as Petronas chairman, Muhammad as Bank Negara governor and Shazalli as TM group CEO.

PETALING JAYA: Bank Negara governor Tan Sri Muhammad Ibrahim resigned after questions were raised following the purchase of land from the Government for RM2bil that ended up being used to pay 1MDB’s debts.

In an open letter to staff of the central bank explaining his offer to resign, which was accepted by the Government, Muhammad said he was prepared to relinquish his post if he no longer has the strong trust and support of the public.