Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,427 members, 7,815,963 topics. Date: Thursday, 02 May 2024 at 10:17 PM

Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. (1307 Views)

Breaking: Dr Oby Ezekwesili Likely next CBN Governor. To Replace Emefiele / Tony Elumelu - The Next CBN Governor / Jonathan, Okonjo-iweala Tip Aig-imoukhuede As Next CBN Governor (2) (3) (4)

(1) (Reply) (Go Down)

Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by Peterwins(m): 6:21pm On Dec 30, 2013
I know its impossible. But Nigerians debating about who should become the next CBN Governor should consider some interesting facts about the current Governor of the Bank of England, Mark Carney:

On November 26, 2012, the British Chancellor of the Exchequer, George Osborne, announced the appointment of Carney as the next Governor of the Bank of England. Carney succeed Sir Mervyn King on July 1, 2013.[32] He is the first non-Briton to be appointed to the role since the Bank was established in 1694. The Bank of England will be given additional powers starting in 2013, such as the ability to set bank capital requirements.[33]
Prior to taking up the post, Carney has already indicated disagreement with the Bank of England's Executive Director of Financial Stability Andy Haldane, specifically on leverage ratios and on bank break-ups. He has been quoted as saying Haldane does not have a "proper understanding of the facts" on bank regulation.[34]
Though the term is officially eight years, Carney has said that he intends to stand down after five. He is likely to be offered a total pay package of about £624,000 ($990,000) per year, approximately £100,000 ($160,000) more per year than his predecessor.[32] A chauffeur is also part of the packages, but he declined and will instead commute to work using the London Underground system.

Source: http://en.wikipedia.org/wiki/Mark_Carney

I was really impressed with the parts highlighted. An unassuming personality, while some of our policy makers behave as emperors (feudal lords) in their empires (fiefdoms).

We still have a lot to learn and practise as individuals in particular and as a country in general.
Re: Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by Peterwins(m): 6:27pm On Dec 30, 2013
More about Mark Carney:

Mark Joseph Carney (born March 16, 1965) is the current Governor of the Bank of England and Chairman of the G20's Financial Stability Board.[2] He was previously the Governor of the Bank of Canada, and began his career at Goldman Sachs and the Canadian Department of Finance. Carney has been credited with shielding Canada from the worst effects of the late-2000s financial crisis, and has earned recognition by the Financial Times and Time magazine as a top figure in the financial world.
Re: Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by Peterwins(m): 6:30pm On Dec 30, 2013
Mark Carney's Qualifications:

Carney completed a bachelor's degree in economics at Harvard in 1988. He later attended St Peter's College, Oxford where he received an MPhil in economics in 1993, and Nuffield College, Oxford where he received a DPhil in economics in 1995.[4]
Re: Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by Peterwins(m): 6:31pm On Dec 30, 2013
Mark carney's Career: Goldman Sachs

Carney spent thirteen years with Goldman Sachs in its London, Tokyo, New York and Toronto offices. His progressively more senior positions included co-head of sovereign risk; executive director, emerging debt capital markets; and managing director, investment banking. He worked on South Africa's post-apartheid venture into international bond markets, and was involved in Goldman's work with the 1998 Russian financial crisis.[3]

Bank of Canada

Governor, February 2008–June 2013[edit]
Carney returned to the Bank in November 2007 after his appointment as Governor, and served as advisor to retiring Governor David Dodge before formally assuming Dodge's job on February 1, 2008.[10] Carney was selected over Paul Jenkins, the Senior Deputy Governor, who had been considered the front-runner to succeed Dodge.[11] Carney took on this role during the depths of the recent global financial crisis. At the time of his appointment, Carney was the youngest central bank governor among the G8 and G20 groups of nations.[12]
Re: Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by Femolacaster(m): 7:06pm On Dec 30, 2013
Can the same gesture be replicated in Nigeria?.....maybe next 100 years!
Re: Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by Peterwins(m): 7:14pm On Dec 30, 2013
Femolacaster: Can the same gesture be replicated in Nigeria?.....maybe next 100 years!

Perhaps in the next 20 years, if we get our politics right especially as the global economy continues to integrate financial/monetary policies across nations.
Re: Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by Peterwins(m): 7:22pm On Dec 30, 2013
I wish the next CBN Governor will be as intelligent and unassuming as Mark Carney. Imagine commuting to work using the London underground system (public transport) instead of being chauffeured.
Re: Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by Afam4eva(m): 7:30pm On Dec 30, 2013
I think the only way Nigeria can move forward is if we put competent foreigners to run our major government parastatals(not ministries).
Re: Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by Peterwins(m): 7:34pm On Dec 30, 2013
I also love this part: He (Mark Carney) has been quoted as saying Haldane does not have a "proper understanding of the facts" on bank regulation, referring to the Bank of England's Executive Director of Financial Stability Andy Haldane.

I hope our next CBN Governor " will have a proper understanding of the facts on bank regulation".
Re: Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by Boss13: 7:45pm On Dec 30, 2013
Afam4eva: I think the only way Nigeria can move forward is if we put competent foreigners to run our major government parastatals(not ministries).

Exactly. You are certainly right. Might look like post colonialism but that is what we need. In the case of Mark Carney (a wishful dream) I honestly respect the man's capability. He is slowly pushing the UK out of the euro recession. I watched him on Bloomberg with Charlie Rose, an outstanding economist. We need a man like him.

If I am Jonathan, I will get two foreigners for both the CBN and minister of finance job.
Re: Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by Peterwins(m): 7:56pm On Dec 30, 2013
Afam4eva: I think the only way Nigeria can move forward is if we put competent foreigners to run our major government parastatals(not ministries).

We have a lot of competent Nigerians as well but they will be bogged down with the usual ethnic, religious and tribal attacks. The Britons also have competent hands available but decided to appoint a non-Briton to head their Central Bank. I would have to find out why they did it.

However, some members of our judiciary have being heads of the Judiciary of one or two African countries in the past.
Re: Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by OmoTier1(m): 8:27pm On Dec 30, 2013
You need strong political institutions for men like the current governor of bank of england (Mark Carney) to give you double digits growth and real development year on year.

Mark Carney is a realist, a practical conservative and knows His onions. A man who led Canada during the recession and vowed that Canada would never see real term recession and that was exactly what really happened. Unlike Marvin King who theorizes like Okonjo Iweala, Carney knows how to turn theory into practical, growth into development!

Can Mark Carney survive in an atmosphere like that of Nigeria? Certainly not.

Will Mark Carney accept to work in a place like Nigeria? Certainly not.

Why? NIGERIANS AND NIGERIA ARE NOT PREPARED TO LIVE THE GOOD LIFE BY SHUNNING EVIL AND EMBRACING GOOD. We believe the way up is down
Re: Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by CHAIRMAN1(m): 9:53pm On Dec 30, 2013
@op, clap for yourself!
When I saw the heading, I immediately thought it was musiwa that opened this thread. Seems you're his twin brother undecided
Re: Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by whosefault(f): 10:13pm On Dec 30, 2013
Peterwins:

We have a lot of competent Nigerians as well but they will be bogged down with the usual ethnic, religious and tribal attacks. The Britons also have competent hands available but decided to appoint a non-Briton to head their Central Bank. I would have to find out why they did it.

However, some members of our judiciary have being heads of the Judiciary of one or two African countries in the past.

the ngozi and the agric man that jona appointed based on their record, did we embrace them to do their work, how much more employing a foreigner out rightly; that means the person will leave the job on arrival because of the way reps will be calling him for question on his policies. ask sanusi and ngozi
Re: Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. by DisGuy: 10:20pm On Dec 30, 2013
Boss13:

Exactly. You are certainly right. Might look like post colonialism but that is what we need. In the case of Mark Carney (a wishful dream) I honestly respect the man's capability. He is slowly pushing the UK out of the euro recession. I watched him on Bloomberg with Charlie Rose, an outstanding economist. We need a man like him.

If I am Jonathan, I will get two foreigners for both the CBN and minister of finance job.

doubt any foreigner will take it up except for [indians and pakistanis} as currently constituted! Nobody wants to work with someone without backbone, or political will, formulating policies in Nigerian is not rocket science saying no to dangote,ibeto,chairman,high chiefs and ex major generals is the real koko. How will you accept a job from someone that cant convict saboteurs?

(1) (Reply)

Jonathan Open to Reconciliation With Obasanjo – Presidency / BREAKING: Nyanya Explosion: INTERPOL Hands Over Alleged Mastermind To Nigeria / Man Caught With Cocaine Concealed In Women Shoes (photos)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 32
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.