OAM4J:

Ok, he erred, its only abt $12b that was not properly accounted for. Since its not 50 but only 12, I guess the amount is no longer significant and we dont need to appreciate him again. In fact he should be jailed for being a 50b alarmist instead of a mere 12b informant. Right?

Interesting!

Oh! SHUT it. The $10.4bn or $12bn is 'not missing': those where d very words of Sanusi himself at that Press Conference. The sum has not been Reconciled as at the time of d Press Conference; and it was not a new Sanusi 'discovery' either. NNPC and FAAC were already having disagreements on d substantial parts of d said fund, with NNPC insisting parts of it were used to pay its own share of d Oil subsidy, that sm parts of it were used in its Crude oil swaps deal, etc. This is exactly why that 'letter' from Sanusi was Sillly and Suspent- most of his phantom $50bn 'missing' funds were already paid into same CBN by oda Agencies whose duties it was to make those payments ie the FIRS and DPR, whilst d 'remaining' $10.8bn was already known b4 Sanusi raised it. How d helll didn't Sanusi d diff Organisations that were supposed to remit monies of crude oil sales? Or, did he reali not know?? ... Anyways they- NNPC, CBN, MOF, FIRS, DPR, AGF- are Reconciling these Accounts, and we can only pass meaningful judgements when that process is ova; one wud not be surprised though if NNPC cannot account for parts of d 'remaining' sum cos that Organisation is one of d most murky in 9ja

If Nigeria is a place where things work, there is no reason on earth why Sanusi would have been brought to be the boss of my next candidate. Reading his profile and considering that he has to sit back and let Sanusi run around ignorantly acting like an economist at the CBN almost broke my heart. An economist to the core, but almost lost to the large cavernous bureacracy of the civil service, I present Dr. Tunde Lemo!!!
I give him 'A'



Mr. Tunde Lemo (OFR)
Deputy Governor,Operations Directorate - Since 1/1/2004

Tunde Lemo is a fellow of the Institute of Chartered Accountant of Nigeria as well as fellow of the Chartered Institute of Bankers with significant leadership and top management experience in both the public and private sectors spanning over 26 years. He holds a Bachelor of Science degree in Accountancy (first class division) from the University of Nigeria, Nsukka in 1984 where he won seven academic laurels, including the Best overall graduating student in the Faculty.


He attended Advanced Management Programme (AMP) at the Wharton College, University of Pennsylvania, Philadelphia, U.S.A in 2002 as well as executive training programmes in world class institutions including Harvard University, INSEAD, Fontainbleau, France, Brandies University, Boston etc.


Currently, he is serving as Deputy Governor in charge of Operations, Central Bank of Nigeria, in which role he is driving the industry-wide shared services initiative towards achieving efficient banking services with 30% cost savings for the Nigerian banking industry and greater penetration of banking services. He equally provides strategic direction and supervises five departments of the Central Bank of Nigeria including Reserve Management, Banking and Payments System, Currency Operations, Branch Operations and Information Technology departments. Prior to this, he was Deputy Governor, Financial Systems Surveillance. He is an experienced and versatile public officer and financial manager. His contributions to public policy include the implementation of the Banking Sector Consolidation, formulation and implementation of the Microfinance Policy and Supervisory Framework both under the supervision of the Governor. He also led the restructuring of Abuja Security and Commodities Exchange and Nigeria Export Import Bank (NEXIM), as the Chairman of both institutions. As Vice Chairman Technical Committee for the establishment of Africa Finance Corporation (AFC), he participated actively in the establishment of the Pan-African investment institution where he still serves as a Director..

Prior to his appointment as Deputy Governor, he had led the transformation of Wema Bank Plc as MD/CEO between 2000 and 2003 resulting in the bank’s superlative performance which made it rank as one of the top ten most profitable commercial banks in Nigeria in 2003.

His major strengths are his passion for excellence, ability to transform challenges into opportunities, integrity and exceptional people-management and problem solving skills. This is complemented with strong inter-personal and negotiation skills as well as sound analytical and financial management capabilities. He leverages his diverse exposure and works effectively with people of different background in the private and public sectors.

He is excited by the opportunities to formulate policies that will raise people’s standard of living and regularly render volunteered and community development services through Tunde Lemo Foundation.

LRNZH:

Two wrongs do not make a right.

So if indeed he questioned NOI's credentials as you claim, does that justify your confederates vilifying Sanusi without a genuine basis?

All I see is tribalism.

I am not trying to be tribal.
I was only trying to remind him that the competency of a 'qualified' professional can be called to question.

The next CBN governor must come form the Core North to finish Sanusi tenure (second 5 years). We are watching....

PapaBrowne: I think the post of CBN would kind of belittle Elumelu. The guy is poised for much bigger. Boggling him down in regulatory bureaucracy would not cut it for Elumelu. The trending words today in global finance are impact investment, conscious capitalism and social entrepreneurship. Elumelu is at the forefront of these three with his Africapitalism model.

For a regulatory institution like CBN, we need folks who are long on policy framework design and implementation. A Soludo type who can easily create policy and convert it into practicality. Not a lot of people come to mind.

stil waiting 4 u to name 1 person

alaoeri: Charles Soludo - ibo
Sanusi - Hausa
Next CBN governor should be yoruba or else?

Its the turn of Kanuri abi we no be nigerians? What sort of discrimination is all this?

dejt4u: We need a yoruba man this time around

Must u attach ethnic sentiment 2 evrytin? Let d best man 4 d job get it, God should help Nig, becos dat office is crucial our economic growth.

la furia:
Pleaseeeeee, jeopardising what, tell me, did the subsidy scam jeopardize the government? Look nothing will shake this government even if it is a trillion dollars corruption.
The question now is what happened to the 12b dollars that the government agreed is missing? Please answer the missing 12b dollars na, no you won't, you want us to concentrate on why Sanusi said it was 50b dollars instead 12b dollars abi.
Alright Sanusi will pay the price for misquoting, agreed o,. Now tell me who should be held responsible for the 12b dollars that is missing?

Which Govt told you that $12bn was missing? In fact, who eva said that? Did Sanusi himself even say that?.... Plz, learn to seperate the little voices playing in yr own head from what others may hv said or not

At the end of the day, this, unfortunately would be a political appointment. The elections start next year and the next CBN governor will be central to certain policy implementations that can sink or float GEJ's boat.

I wouldn't want to guess that candidate because only the inner circles of PDP would know.

solomon111: I'm sure you were one of those people that questioned the competence of NOI as minister of finance even with all her experience in the world of finance and international banking.
So spare us the sarcasm.

No, check my post history, am one of the people who believe she is one of the best things to happen to GEJ's government. Even though there is little to show for her efforts compare to her tenure with Obj, I believe it is because the system is too corrupt and messed up for her to make meaningful impact.

PapaBrowne:

Sanusi was born on 31 July 1961. His father was a Permanent Secretary in the Ministry of Foreign Affairs in the 1960s and his grandfather was Emir of Kano and Islamic Scholar, Alhaji Muhammadu Sanusi. Sanusi graduated from King's College Lagos in 1977 and studied at Ahmadu Bello University (ABU), Zaria earning a BSc in Economics in 1981. He then taught economics at ABU from 1983 to 1985. He also obtained a degree in Islamic law from International University of Africa, Khartoum.


Msc in Economics[/b] Maybe you sold it to him but he has refused to add it to his CV.

naijaking1:

There you go again, Sanusi has no Msc in economics! Except the one Jarus gave him here on Nairaland!!!

You mean he failed to personally present his certificates to you and show you his updated resume? No wonder you believe he is intellectually limited.

Sanusi Lamido Aminu Sanusi (. July 31, 1961), Governor of the Central Bank of Nigeria and the grandson of a former Emir of Kano and Islamic Scholar, Alhaji Muhammadu Sanusi. He started his western education at St. Anne Primary School, Kakuri, Kaduna (1967-1972). He had his West African School Certificate at the prestigious King’s College, Lagos in 1977. He then proceeded to the equally prestigious Ahmadu Bello University, Zaria where he bagged a Bachelor of Science degree in Economics in 1981 and he did the course work for Master of Science degree in Economics with distinction in Monetary Policy in 1983. He earlier did his National Youth Service in former Gongola State (now Adamawa and Taraba States).

Sanusi has been named as the Central Bank Governor of 2010 for both the African continent and the entire world, by the prestigious Banker Magazine

http://www.africansuccess.org/visuFiche.php?id=871&lang=en

Please note "With Distinction".... I forgot he bought it. Sorry guys...am slow in learnig, may be am intellectually limited too

dejt4u: We need a yoruba man this time around

Poor mentality. You dont only need a yoruba man, you need a corrupt man.

OAM4J:

No, check my post history, am one of the people who believed she is one of the best things to happen to GEJ's government. Even though there is little to show for her efforts compare to her tenure with Obj, I believe it is because the system is too corrupt and messed up for her to make meaningful impact.
You mean he failed to personally present his certificates to you and show you his updated resume? No wonder you believe he is intellectually limited.

Sanusi Lamido Aminu Sanusi (. July 31, 1961), Governor of the Central Bank of Nigeria and the grandson of a former Emir of Kano and Islamic Scholar, Alhaji Muhammadu Sanusi. He started his western education at St. Anne Primary School, Kakuri, Kaduna (1967-1972). He had his West African School Certificate at the prestigious King’s College, Lagos in 1977. He then proceeded to the equally prestigious Ahmadu Bello University, Zaria where he bagged a Bachelor of Science degree in Economics in 1981 and[b] he did the course work for Master of Science degree in Economics with distinction in Monetary Policy in 1983[/b]. He earlier did his National Youth Service in former Gongola State (now Adamawa and Taraba States).

Sanusi has been named as the Central Bank Governor of 2010 for both the African continent and the entire world, by the prestigious Banker Magazine

http://www.africansuccess.org/visuFiche.php?id=871&lang=en

Please note "With Distinction".... I forgot he bought it. Sorry guys...am slow in learnig, may be am intellectually limited too

My brother, I knew you were going to fall for that trap!
Like Jarus found out, doing course in MSc is not the same as having a MSc. Please be educated!
The guy took some master level classes, failed, and then ended up our CBN governor. I took some course work in neurosurgery doctorate, but I'm not a neurosurgeon. I also took some course work in engineering, but I'm not an engineer. Why? Did you miss that or you just didn't know what it meant?

I'd rather that a torough bred economist is selected as CBN governor than a typical banker

In my view, the present economic situation calls for creativity and a deviation from the usual
a 'typical' bankers intellectual tool set is limited, and might include implementing policies that do not encourage employment in the short to medium term

With the high unemployment rate in Nigeria
I'd suggest that a pro-labour economist be appointed
the universities might provide a pool for such resources

Bisi Onasanya or Segun Agbaje

Finishing a coursework is not a guarantee that Sanusi has an MSc in Economics. I knew guys who could not receive their master degree after completing their coursework because of disagreements with their thesis supervisors.

OAM4J:

No, check my post history, am one of the people who believed she is one of the best things to happen to GEJ's government. Even though there is little to show for her efforts compare to her tenure with Obj, I believe it is because the system is too corrupt and messed up for her to make meaningful impact.






You mean he failed to personally present his certificates to you and show you his updated resume? No wonder you believe he is intellectually limited.

Sanusi Lamido Aminu Sanusi (. July 31, 1961), Governor of the Central Bank of Nigeria and the grandson of a former Emir of Kano and Islamic Scholar, Alhaji Muhammadu Sanusi. He started his western education at St. Anne Primary School, Kakuri, Kaduna (1967-1972). He had his West African School Certificate at the prestigious King’s College, Lagos in 1977. He then proceeded to the equally prestigious Ahmadu Bello University, Zaria where he bagged a Bachelor of Science degree in Economics in 1981 and he did the course work for Master of Science degree in Economics with distinction in Monetary Policy in 1983. He earlier did his National Youth Service in former Gongola State (now Adamawa and Taraba States).

Sanusi has been named as the Central Bank Governor of 2010 for both the African continent and the entire world, by the prestigious Banker Magazine

http://www.africansuccess.org/visuFiche.php?id=871&lang=en

Please note "With Distinction".... I forgot he bought it. Sorry guys...am slow in learnig, may be am intellectually limited too

alaoeri: Charles Soludo - ibo
Sanusi - Hausa
Next CBN governor should be yoruba or else?

The next CBN governor should be qualified for the job. Forget tribe.

He could even be a foreigner....the UK just appointed a Canadian as the Governor of the Bank of England.

@PAPABROWNE, IN AS MUCH AS YOU ARE A GOOD ANALYST, I DOUBT YOU WOULD GIVE SLS ANY CREDIT, EVEN IF HE TURNED NIGERIA TO CHINA.

HERE IS A LOOK AT YOUR POST WHEN SLS WAS APPOINTED CBN GOV.

Re: Really, Who Is Sanusi Lamido Sanusi? by PapaBrowne(m): 11:41pm On May 15, 2010
"It explains everything we've been saying about this guy! He rose to his position in the banking industry by virtue of his royal lineage.
I have always wondered why Sanusi never deemed it necessary throughout his career as a banker to develop himself further.

The guy is a misfit for the position he sits upon. He would definitely be better off as an EFCC Chairman or better still he should be considered as a Chairman off the Pilgrims Board where he can make adequate use of his Sudanese degree in Islamic studies".

My next candidate for CBM governor is a young and rising superstar with a vast international policy banking experience. A lawyer, and a current deputy governor of CBN. I present Dr. Moghalu!!!
I give him a 'B' for limited exposure to the Nigerian political situation, but then CBN governors ought not be politicians.

Dr. Kingsley Moghalu (OON)
Deputy Governor, Financial System Stability - Since 11/9/2009

Dr. Kingsley Chiedu Moghalu is the Deputy Governor of the Central Bank of Nigeria in charge of the Financial System Stability (FSS) Directorate. He has led the implementation of far-reaching reforms to enhance the quality and stability of banks and other financial institutions, the management of systemic risk to Nigeria’s banking system, and supervises the following Departments of the Central Bank of Nigeria: Financial Policy and Regulation Department, Banking Supervision Department, Other Financial Institutions Supervision Department, Development Finance Department, and the Consumer Protection Department. The FSS Directorate regulates and supervises a vast conglomerate of bank and non-bank financial institutions in Nigeria – 24 commercial banks with total assets of 21 trillion naira and 57 subsidiaries in 31 countries, five development finance institutions (Bank of Industry, Bank of Agriculture, Federal Mortgage Bank of Nigeria, Nigerian Export-Import Bank (NEXIM Bank), and Infrastructure Bank), 84 primary mortgage institutions, 900 microfinance banks, and 2443 bureaux de change.

Dr. Moghalu is a member of the Board of Directors, the Monetary Policy Committee, and the Committee of Governors of the Central Bank of Nigeria, and is a member of the President of Nigeria’s Economic Management Team. He is a member of the board of directors of the Securities and Exchange Commission (SEC) and the Asset Management Corporation of Nigeria (AMCON) as well as Chairman of the board of directors of the Financial Institutions Training Centre (FITC). He served as Chairman of the board of NEXIM Bank from 2009 – 2011.

Kingsley Moghalu was born in Lagos in 1963 to Isaac Moghalu, a Nigerian Foreign Service Officer in the Ministry of Foreign Affairs, and Mrs. Vidah Moghalu. He obtained the LL.B. (Honours) degree in law at the University of Nigeria, Nsukka in 1986, the B.L. (Barrister at Law) from the Nigerian Law School, Lagos, an M.A. from The Fletcher School of Law and Diplomacy at Tufts University, USA, and a Ph.D. in International Relations from the London School of Economics (LSE) at the University of London, UK. He also obtained an International Certificate in Risk Management from the Institute of Risk Management, London, UK.

He is also an alumnus of executive education programs on leading economic growth and transformation and on corporate governance at Harvard University’s Kennedy School of Government and Harvard Business School respectively, and on macroeconomics and financial sector management at the International Monetary Fund (IMF) Institute.

Prior to his appointment as Deputy Governor of the Central Bank of Nigeria, Dr. Moghalu was the Founder and Chief Executive Officer of Sogato Strategies S.A., a risk management and strategy consultancy firm in Geneva, Switzerland. He was also the Executive Director of the Swiss-Africa Business Roundtable, and served as a member of the global board of directors of Opportunities Industrialization Centers International, Inc., USA.

He previously worked for the United Nations for 17 years, from 1992-2009, in legal, management and strategic planning posts at duty stations in New York, Cambodia, Croatia, Tanzania, and Switzerland, rising to the rank of a Director in the Organization. In 2006 the Secretary-General of the United Nations appointed Dr. Moghalu a member of the high-level Redesign Panel on the United Nations Internal Justice System, an assignment at the level of Under-Secretary-General. The Redesign Panel overhauled the transparency, accountability and regulatory compliance system of the United Nations as a key component of the management reform of the UN.

From 2002 to 2008, Dr. Moghalu was the Head and Director of Global Partnerships and a member of the Risk Management Committee of the Geneva-based Global Fund, an international development finance organization with $20 billion in assets and a $15 billion investment portfolio in 140 countries as of 2008. He was Legal Advisor and the Spokesman of the United Nations International Tribunal for Rwanda at Arusha, Tanzania from 1997 to 2002, and served as a Political Advisor at the United Nations Headquarters in New York and in UN missions in Cambodia and Croatia, from 1992 to 1997.

Before joining the United Nations Service in 1992, Dr. Moghalu was a Country Risk Analyst for Political Risk Services (PRS) Group, Inc., USA, Research Assistant in the Global Political Economy Program at The Fletcher School, Tufts University where he was the Joan Gillespie Fellow, General Counsel of Newswatch Communications Ltd., Lagos, and Legal Officer (National Youth Corps Scheme), Shell Petroleum Development Company of Nigeria Ltd., Lagos.

Kingsley Moghalu is the author of Emerging Africa: How the Global Economy’s ‘Last Frontier’ Can Prosper and Matter, two previously published books on international politics, and numerous articles on law, banking regulation, economic development, political economy and public policy. His publications have appeared in journals and newspapers such as Central Banking Journal, Journal of Banking and Finance, The Fletcher Forum of World Affairs, The Washington Post and the International Herald Tribune. He is a member of the Institute of Risk Management, UK, Global Association of Risk Professionals (GARP), the American Bar Association (Associate Member), and the Nigerian Bar Association.

Dr. Moghalu has been a frequent keynote speaker and guest lecturer at numerous global forums including: the Federal Reserve Bank (central bank) of the United States, the South African Reserve Bank, Wharton School of Management at the University of Pennsylvania, Official Monetary and Financial Institutions Forum (OMFIF), the Brookings Institution in Washington, DC, Institute of International Finance (IIF), National Bar Association of the United States, and the African Presidential Roundtable. He has been interviewed and featured on CNN, BBC World TV’s HardTalk, Financial Times, The New York Times and other global media.

He has received several honours including the Nigerian national honour of the Officer of the Order of the Niger (OON), Fellow of the Chartered Institute of Bankers of Nigeria (FCIB) and Rotary International Distinguished Service Award.

Kingsley Moghalu is married to Maryanne Moghalu (nee Ezike) and their union has been blessed with children.

@oamj
He did the course work for Masters degree in economics! Hehehehehe!!!

What a description. Do you now equate doing a course work to obtaining a degree in a discipline?? What a discovery??

OAMJ please you are smarter than this. One CV says he taught at ABU and another says he did course work. None said he obtained a degree.
Please tell me why??

mikeansy:

why do you people accuse others of tribalism when they hold a different view

I also think Sanusi's economic views and knowledge of the economy are half baked

Agreed, that is why he trembles and changes his mind when Okonjo Iweala talks...

Forget his eyeglasses. All nah wash. A man whose pre-occupation was to rubbish his competitiors when he got the slightest opportunity...

naijaking1:

There you go again, Sanusi has no Msc in economics! Except the one Jarus gave him here on Nairaland!!!

Someone with ordinary Nigerian BSc in economics running CBN.
The guy must be a genius

naijaking1:

My brother, I knew you were going to fall for that trap!
Like Jarus found out, doing course in MSc is not the same as having a MSc. Please be educated!
The guy took some master level classes, failed, and then ended up our CBN governor. I took some course work in neurosurgery doctorate, but I'm not a neurosurgeon. I also took some course work in engineering, but I'm not an engineer. Why? Did you miss that or you just didn't know what it meant?

Except that he dint fail like you but passed with with distinction. jk ... Anyways it really doesn't matter since he bought it, right?

I dont like you guys making me a Sanusi's spokesman and advocate, really I agree he made his mistakes like many others before him, but I think it's going too far describing him as "intellectually limited" simply because he doesn't share same ideology with Soludo on monetary policies. I think he did his best and deserves all the honors he got.

PapaBrowne: @oamj
He did the course work for Masters degree in economics! Hehehehehe!!!

What a description. Do you now equate doing a course work to obtaining a degree in a discipline?? What a discovery??

OAMJ please you are smarter than this. One CV says he taught at ABU and another says he did course work. None said he obtained a degree.
Please tell me why??

Actually, he does have the Masters......the statement you quote means that he got his MSc Economics, with a distinction in the monetary policy course.

Plus, when looking for job with your Masters, any distinctions you make in your masters courses gives you an edge in the job market. I speak boldly as someone who has done a Masters abroad.

Also, he was a Lecturer for two years at ABU......and ABU back then did not accept lecturers who had half completed their courses. I speak as a graduate OF ABU and as the son of an ex-lecturer at ABU.

If he did not complete his course.....how did he get the First Bank Job? First bank, when last I checked , employed people with qualifications, not people without. And First Bank did very well under his stewardship. Or, have Nigerian banks started giving jobs to people who are not qualified?

Please, don't lie, and do not be a bigot.

The next candidate has been a core banker for more than 3 decades. Unlike Sanusi, this candidate did not only 'complete course work in Msc economincs' he actually recieved a MSc degree. Please welcome Mr. Barau!!!
I give him a 'B' for limited international exposure, but he would be a million times better than Sanusi as governor!

Alhaji Suleiman Barau (OON)
Deputy Governor, Corporate Services Directorate - Since 12/13/2007

Born on the 14th of August, 1959, Alhaji Suleiman Barau attended the Ahmadu Bello University Zaria, where he obtained a Bachelor of Science degree in Economics. He also attended University of Bradford, England and the University of Jos where he obtained Postgraduate Certificate in Planning and Appraisal of Industrial Projects and an M.SC in Economics (Money and Finance) respectively.

A respected Banker and Economist, he began his working career with the Nigerian Mining Corporation as a Civil Servant in 1981 where he rose to the position of Principal Economist. During his employment with the Nigerian Mining Corporation, Suleiman conducted marketing and economic studies that led to the production of several mineral raw materials. He then moved to Continental Merchant Bank Limited in 1988 where he rose to the position of Deputy Manager and later became a Principal Manager with the Bank of the North Limited. He then moved to United Bank for Africa Plc as a Principal Manager (Treasury and Financial Institutions) and eventually headed the New York Branch Marketing Team at the Head Office of the Bank. He then joined FSB International Bank Plc and left in 2005 as a General Manager (Treasury, Financial Institutions and Private Bank) to take up appointment as a Special Adviser to the Governor of the Central Bank of Nigeria. Before joining Central Bank of Nigeria in 2005, Suleiman’s banking experience was substantially in the areas of Treasury and Investment Banking, Corporate Finance, Credit Analysis, Financial Institutions, Relationship Management and Private Banking. As Special Adviser to the Governor, he also gathered some Manufacturing and Currency Printing experience when he con-currently acted as the Managing Director and Chief Executive Officer of the Nigerian Security Printing and Minting Company from 2nd of March to 1st of June, 2007 and has been a Board Member of the same company since March 2005.

Suleiman was appointed to the Board of CBN as the Deputy Governor, Operations on the 13th of December, 2007.

He has attended and facilitated several courses and conferences both at home and abroad. He is a Railway enthusiast and enjoys Soccer and Geography. He is married with children

eedreez505:
@PAPABROWNE, IN AS MUCH AS YOU ARE A GOOD ANALYST, I DOUBT YOU WOULD GIVE SLS ANY CREDIT, EVEN IF HE TURNED NIGERIA TO CHINA.
HERE IS A LOOK AT YOUR POST WHEN SLS WAS APPOINTED CBN GOV.
Re: Really, Who Is Sanusi Lamido Sanusi? by PapaBrowne(m): 11:41pm On May 15, 2010
"It explains everything we've been saying about this guy! He rose to his position in the banking industry by virtue of his royal lineage.
I have always wondered why Sanusi never deemed it necessary throughout his career as a banker to develop himself further.

The guy is a misfit for the position he sits upon. He would definitely be better off as an EFCC Chairman or better still he should be considered as a Chairman off the Pilgrims Board where he can make adequate use of his Sudanese degree in Islamic studies".

Strangely, I would tell you that I actually like Sanusi . Nigeria needs men like him, but surely not as CBN governor. He would do much better as an EFCC chairman. He did badly as a CBN governor as we recorded insane monetary policies in his tenure. I dont know where you live, but if you live in Nigeria, you would notice the scarcity of change. If you are an economist, you would understand the impact of something as simple as that on the economy at large. I would explain in simpler terms with a story. I tried to buy newspapers yesterday but the vendor had no change and I had no change. I didnt buy the paper any longer. I tried to buy a bottle of Sprite a few days ago. It costs 120 Naira. The seller had no change. I didnt but any longer. If this is not fixed, either of two things would happen. Either the quantity of goods been sold would go down or the price of goods would go up. Either way, it would slow down the economy. But its has run on for months and the CBN Governor has refused to do anything about it. I hope my long epistle helps explain the impact of Sanusi's intellectual limitations.

mad nigerian:

Actually, he does have the Masters......the statement you quote means that he got his MSc Economics, with a distinction in the monetary policy course.

Plus, when looking for job with your Masters, any distinctions you make in your masters courses gives you an edge in the job market. I speak boldly as someone who has done a Masters abroad.

Also, he was a Lecturer for two years at ABU......and ABU back then did not accept lecturers who had half completed their courses. I speak as a graduate OF ABU and as the son of an ex-lecturer at ABU.

If he did not complete his course.....how did he get the First Bank Job? First bank, when last I checked , employed people with qualifications, not people without. And First Bank did very well under his stewardship. Or, have Nigerian banks started giving jobs to people who are not qualified?

Please, don't lie, and do not be a bigot.

Sanusi's daddy's friend is the "owner" of first bank. Go figure. Sanusi was at UBA for a while before moving to first bank when Mutallab was chairman. Mutallab is the owner of Jaiz Bank which Sanusi wanted to fund with CBN money. Mutallab is the father of Nigerian underwear bomber.

Within CBN We can find Capable Hands good enough to pilot the affairs of CBN - There are lots of Directors within CBN who do the real jobs only for the Governor to take the Glory ...Majority who are Monetray Economic Experts ...Mallam Sanusi is an empty Banker like every other Banker on the street - Not surprised He spent his whole tenure buying awards just to confuse people

Most of His Policies are off track - always doing a trial and error .If not what's the essence oftrying to return back N50,N20 and co back to paper notes -

PLEASE READ. BELOW - WHAT WAS WRITTEN ABOUT SANUSI


I have never heard of a thing more stupid or embarrassing than a governor of a central bank of Nigeria not understanding how revenue from crude oil is administered. Sanusi Lamido exposed his ignorance and shallowness after days to trying to snub the superior argument of smarter technocrats.

It is clear to me why the monetary policies of Nigeria under Sanusi Lamido have not helped improve the economy since he emerged as CBN governor. His over dependence on hot money to stabilize the currency, and his straight jacket, textbook copy and paste monetary policies has had many Nigerian economists scratching their heads. One of them has asked, ” where did Yar’Adua bring the man from?”

His arrogance and pride has made it impossible for him to learn from his subordinates in the Central Bank who are smarter and more experienced than him in monetary mechanics. Top officials of the bank say they miss the intellectual edge of past CBN governors, and deride the present as one who is only interested in publicity and speech making.

After watching the public embarrassment of the Central Bank of Nigeria today, I can confidently posit that Sanusi has run the CBN with faulty data, and has not been thorough in the discharge of his duties. There is every reason to believe that this CBN governor is over-hyped and over-rated, and blinds his inefficiency and dullness with public presentations and pirated publications, like the few for which he has been sued for plagiarism.

Sanusi Lamido Sanusi does not have the academic credentials to be governor of CBN and he knows he does not qualify. No wonder he is rushing out and not demanding a second term, he can’t be that lucky. The issue of Sanusi’s record in banking and monetary economics has been debated severally. Professor Peter Ekeh of the State University of New York at Bufallo wrote about Sanusi’s record saying:

The information we have on Sanusi’s preparation for his present position is sparse and unpublicized. We read that he did his undergraduate degree in Economics at Ahmadu Bello University, Zaria, graduating in 1981. We do not know in what area s of economics he specialized. It is traditional at that University to write a Research Essay in the final year. It would be important to know on what topic Lamido Sanusi wrote his essay. It is also good information to know what class of degree he earned to enable him to graduate from that University. The publicity piece on Sanusi on the Web site of Central Bank of Nigeria tells us that Sanusi took M. Sc. (Economics) courses, apparently without taking the degree at the end, although he is said to have obtained a distinction in Monetary Policy. Did he abandon the M.Sc. project? We are told that Sanusi returned briefly to teach at Ahmadu Bello University.

What subjects did he teach? These are elementary facts that should be available from a full curriculum vitae of the Chief Economist of the Federation. They are the sort of questions that any interviewing body would demand from any young academic who applies for the position of Lecturer or Senior Lecturer in any of our universities. In addition, we may demand to know from Nigeria’s Chief Economist whether he took any professional examinations in banking while he worked at ICON Limited (Merchant Bankers) and United Bank for Africa before he became the CEO of First Bank of Nigeria. Finally, it will be beneficial for our judgment of the qualifications of our national Chief Economist to gain information on whether his studies in Islamic Law at the University of Khartoum, Sudan, in the hiatus between his years at ICON Limited and UBA, were related to his banking profession. The Central Bank Web site informs us that Sanusi bagged a First Class degree in his Islamic Studies in the Sudan. These are not over-bearing or over-probing questions. We would know about such background of the Governors of the Central Banks of any other African countries from their curriculum vitae.

Perhaps more important is Sanusi’s publication record. Fortunately, in modern times several vehicles exist for accessing the records of anyone who has engaged in academic or professional publishing. For this exercise I have employed the liberal vehicle of Harzing’s Publish or Perish. The result for Sanusi Lamido Sanusi is distressing. He has ten papers listed. They come from such newspaper-grade media sources as www.gamji.com and Daily Trust. All of them are about Sharia, Islamic Law and women. None of them is about economics or banking. The Web site of Central Bank of Nigeria boasts that Sanusi has publications in learned journals, but none is listed. They surely do not appear in the public record.

While these questions from Prof. Eke may never get the answers they deserve, it is important to not that Nigeria has put up with its worst CBN governor in history. I can only compare Sanusi to Reserve (Central) Bank governor of Zimbabwe, Gideon Gono, who after a disastrous two term run, exited this year. Lamido Sanusi is a good man, but he is not smart enough an economist to run the CBN.

Boss George
http://newswirengr.com/2013/12/19/opinion-is-the-cbn-governor-stupid/

PapaBrowne:

Strangely, I would tell you that I actually like Sanusi . Nigeria needs men like him, but surely not as CBN governor. He would do much better as an EFCC chairman. He did badly as a CBN governor as we recorded insane monetary policies in his tenure. I dont know where you live, but if you live in Nigeria, you would notice the scarcity of change. If you are an economist, you would understand the impact of something as simple as that on the economy at large. I would explain in simpler terms with a story. I tried to buy newspapers yesterday but the vendor had no change and I had no change. I didnt buy the paper any longer. I tried to buy a bottle of Sprite a few days ago. It costs 120 Naira. The seller had no change. I didnt but any longer. If this is not fixed, either of two things would happen. Either the quantity of goods been sold would go down or the price of goods would go up. Either way, it would slow down the economy. But its has run on for months and the CBN Governor has refused to do anything about it. I hope my long epistle helps explain the impact of Sanusi's intellectual limitations.

The reason why there is no change.......

Inflation....fuelled by over-importation of the things we manufacture.....which means higher prices...which means higher inflation rates, So if we print more lower denomination notes we would end up pushing up the inflation to higher rates.

Don't blame Sanusi...blame the oil addicted economy.

Also, blame Joe Sani(CBN Gov from 2000-2006) for introducing N100, 200, 500 and 1000 notes.....which was not his fault anyways., because of inflation.

eaglechild: I don't care who the next person is so far he has the right qualification and experience to handle the job.

As if the next governor comes from my village, then N1 will enter my pocket. Smh.

When its time to fight for thier rights, these kids won't show up..

naijaking1:

Mallam, sanu d'aiki!
I was just about posting my research on Sarah Alade when I stumbled on your jardon again.

http://www.cenbank.org/aboutcbn/TheBoard.asp?Name=Dr.+Sarah+Alade+(OON)&Biodata=alade

Dr. Alade is 100% better than Sanusi in every aspect regarding the office. However, her limited knowledge on international banking and finance makes me give 'B' instead of 'A'
There're Nigerians out there in both north and south with better qualification than our current islamic fundamentalist cbn governor. BTW, remember the argument we has about SLS when he was coming in I won!

Yes bro I followed all ur argument against SLS. He's a disaster! He called for subsidy removal and then went ahead to tell us that never paid for petrol for fuel. He blamed the masses for demanding $€£ instead of Naira at Western Union locations; after he implemented Naira policy, dollar has appreciated over Naira by 11%. He's made banks and BDCs richer . They pay out to WU customers at N153/1$ while the same banks will ask you to go and buy $€£ from their BDC at N170/1$ with a N17 margin shared between BDC owners and the banks.
Same guy who went for a chieftaincy title a coupe of days after his senior management staff had perished in a plane crash. Same guy who blamed his staff when he plagiarized another person's work. He got the numbers wrong when he accused NASS. He got the numbers wrong when with NNPC. SLS is a man whose ego is bigger than that of Donald Trump; makes reckless statements without thinking and adding it through; lacks empathy and talks like a typical Naija politician.

PapaBrowne: @oamj
He did the course work for Masters degree in economics! Hehehehehe!!!

What a description. Do you now equate doing a course work to obtaining a degree in a discipline?? What a discovery??

OAMJ please you are smarter than this. One CV says he taught at ABU and another says he did course work. None said he obtained a degree.
Please tell me why??

PapaBrowne you are one of the posters I respect here especially when it comes to discussion on Economics matters, just admit you went too far describing him as "intellectually limited". If you had said he is not as good as Soludo in economics and monetary policies, I wouldn't have taken you up cos that would have been your personal opinion and preference. All his errors notwithstanding, no one who has ever listened to Sanusi should describe him as "intellectually limited", the guy is intellectually very sound and very intelligent.