biina:

http://www.firstbanknigeria.com/aboutfbn/profile/bdm_lamidosanusi.asp

@biina I really would prefer you inserted quote from the summary of Soludos resume I posted earlier and the copy and paste Sanusi's alongside . This will ensure that everyone can compare and contrast at a glance. People would then judge if Nigeria just made advances or have gone backwards.

Affalatus:

Adigun101: For your information, Islamic Banking system has not been affected with the current global reccession and your so called Western world are considering it as a possible way out of avoiding future recession. So mind your language and do not allow your religious bigotry to blind your eyes from facts. One would just hope that your comments and contributions have not been based on Soludo is Christian and Sanusi is Muslim.

Absolutely not. Im not that petty. Just that I do not believe that the sharia thing is relevant. I saw it as absurd that it always kept being mentioned along side the guys qualification. (as the only first class and foreign degree he had)
I also noticed that this was due to fact that the resume is relatively lightweight so it was being padded up with an irrelevant qualification. Next they might add that he has a black belt in Karate.
Whether he is Muslim or not, the guy doesn't have as much a pedigree to run the CBN and steer the  Nigerian economy as much as his predecessor.
This guy has been the best CBN governor you've ever had . Take it or leave. His shoes are too large for this lightweight to fill. The performance of our financial sector (the only shinning light in our economy attests to that)
With Islamic banking and global recession, I wont even bother to comment on that. Other readers will just have to make up their minds on your level of intelligence.

Affalatus:

@ Adigun because of Nigerians like you i will not forgive nor will i forget Soludo's Sins. I will expose all his crimes from 2004 to 2009.
You will run and hide your face. Adigun 101 shame will overtake you on behalf of Soludo from Deceit to Murder. You will hear facts and then as you kneel at the feet of your soludo a man you know not yet asking why. I will remind you of your text on this thread.

I don't give in to cheap blackmail. I see people like you as distractors. Do you think everyone engages in petty politics ? One day you less educated, myopic, backward individuals in all sectors and levels of our society will give way to the more intelligent and broader minded, progressives. Only then will this country make progress.
Right now I am tempted to list the PETTY issues you have against this individual. But on second thought I won't because that will be stooping to your level.
All over the UK and in the US I have met distiguished Nigerians well respected in proffessional circles in europe and America.Contributing a whole lot to the progression of these already developed nations. But I know that these individuals in Nigeria will be seen as unqualified and unsuitable for positions in Nigeria using some petty backward calculations.

hi biina and @kobojunkie I still need this guys resume . I don't seem to find his resume on firstbank website or even cbn website. Can someone please provide me with his resume (something like I detailed Soludos) as I need to start selling him to colleagues who are still sceptical.

NB: Pls omit the sharia thing !

loyeruope:

I think not allowing Soludo to continue is a mistake, time will tell.

I really hope it is not a mistake. But my point is that this nation can do much better. We have the potentials in human resources but we always manage to undermine ourselves. Nigeria has 29 banks with 29 MDs/CEOs this guy has been there for just 6 months and that justifies his being CBN governor over Soludo.
i don't understand how we reason in Nigeria. This just has politics at all costs written all over it.
The man was drawing programmes to make Nigeria more economically viable throught its financial sector. And people are talking about risk management as if that is our biggest problem now. This is shocking. Nigeria was well set up to be sub sahara's financial hub and we could already see this taking place.
All that cut short because of politics and people on this thread are trying to justify this !
Well I sign out this thread for good.
No be my papa get naija !

Remii:

adigun 101: This man rose thru the rank to become MD of the biggest bank in Nigeria, then you still rambling? Are you saying he was awarded the MD post too. Allen Greenspan! Allen Greenspan!! Allen Greenspan!!!, the same that midwived the current American Economics recession or which one, give me a break. Soludo is good just because he has been given the opportunity to serve, so he should be there for ever? Accept the situation and wish the new man luck, simple.

Apart from comparing Soludo resume with Sanusi's (which I saw as an insult!) ,I compared Soludo to these guys because central/reserve bank governors are headed by renowned Economics with strong academic bases, and Consultancy and advisory experience to go with,not proffessional bankers . Have you ever wondered why? I thought the world bank/ IMF have always clearly recommended this.
  Greenspan was appointed by the Reagan and served until GW Bush. Bernake was appointed by GW Bush (Republican Administration), and Mervyn king by Tony Blair and both still there till today.
You don't replace such a highly qualified individual if you don't have any compelling need to. Neither do you play politics with the economy.
Well you have a point. I wish him luck. But the job of Central bank governor is completely different from that of first bank. And I hope he is ready.
For Soludo comes new challenges in the world bank/UN/IMF where he joins Okonjo and Ezekwesili.
While we are stuck with these lightweights over here.

Long Live the Federal Republic of Nigeria!

Kobojunkie:

Adigun, did you bother reading what you posted above?

biina:

In a few words, theoretical expertise in macroeconomics
I asked earlier, is he also the best carpenter in Nigeria?

I cant put that in a few words. And if you read well the you will summarize in the following works.
Global, International Consultant, One of the most foremost economists in our generation. , Consultancy is not theoretical ! Please see the bodies and organisations he consulted for. They are by no means inconsequential. I'm not talking about first bank here !
Common, don't talk all that down it doesn't come easy.
can you make the best carpenter in your country CBN governor? It wont surprise me though, its because of people like you that these leaders get away with so much rubbish and mediocrity.

1. University of Nigeria, Nsukka, where he graduated with a first class degree in Economics. He also undertook his post-graduate and doctorate degrees in Economics from the same University winning on both occasions, the prize for the best graduating student.
2. Professor Soludo had cumulative four years of post-doctoral training in some of the world's most prestigious institutions, including: The Brookings Institution, Washington, DC; University of Cambridge, UK, as Smuts Research Fellow and Fellow of the Wolfson College; the UN Economic Commission for Africa as a Post-Doctoral Fellow; University of Warwick as a Visiting scholar and Visiting Research Scholar at Center for African Economies, University of Oxford (with funding by the Rhodes committee). He also attended over a dozen specialized courses and has had extensive research, teaching and consultancy works in different areas of economics.
3. He has worked at the World Bank both as a short and long-term consultant since 1993 and also at the United Nations Economic Commission for Africa, Addis Ababa.
4. He was a consultant to UNCTAD; European Union (EU); Organisation for Economic Cooperation and Development (OECD); United Nations (UN) New York; United States Agency for International Development (USAID); African Development Bank (ADB); Common Market for Eastern and Southern Africa (COMESA); African Union (AU); International Development Research Council (IDRC) Canada; Council for the Development of Social Science Research in Africa (CODESRIA); Economic Community of West African States (ECOWAS); among others.
5. Professor Soludo has served as Senior Technical Advisor/Consultant as well as a Visiting Scholar at the IMF since 1994, and also taught IMF's Financial Programming and Policy course to senior staff of Central Banks in West Africa and other developing regions. He has served as: Member, Technical Committees that drafted economic and trade policies for the Federal Government of Nigeria; and Executive Director of the African Institute for Applied Economics (AlAE).
6. Professor Soludo joined the Federal Government of Nigeria in July 2003 as the Economic Adviser to President Obasanjo and the Chief Executive of the National Planning Commission (NPC). Among other accomplishments during the 10 months in office, he was the Chairman/Coordinator of the team that drafted Nigeria's economic and social reform program (2003-2007), the National Economic Empowerment and Development Strategy (NEEDS), and also pioneered the collaborative planning framework in the Nigerian federation by initiating and assisting state governments in designing their State Economic Empowerment and Development Strategy (SEEDS).
7. He is currently a Member of the International Advisory Group for the UK-DFID; a member of the Chief Economist Advisory Council of the World Bank and the International Advisory Group of the UK Department for International Development (DFID). He is also a member of the Initiative for Policy Dialogue (IPD), a global network of more than 200 leading economists, political scientists, and practitioners to help developing countries explore policy alternatives, and enable wider civic participation in economic policymaking. He is a Fellow of the Chartered Institute of Bankers of Nigeria (CIBN); Fellow of the Nigerian Economic Society (NES)
8. 2007 African banker of the year award.The bankers magazine Central banker of the year award.
9. Soludo was appointed by the United Nations to serve on the 10 man Committee charged with finding solutions to the global economic meltdown.

biina and kobojunkie THIS IS FOR YOU. can you please reply with sanusi's.

Compare this to the resume of the likes of Alan Greenspan(US), Ben Bernanke (US), Mervyn King(UK) and tell me where your Sanusi fits in.

Did I hear you say sharia or whatever he studied in sudan.

Kobojunkie:

We can only hope he is. So far, I see nothing wrong with his profile and his resume seems even as impressive as Soludo’s.

You cannot compare his resume to that of Soludo. First of all soludo is a proffessor while my man just has an MSc in Economics like my brother except my brother got his from Imperial college london.

This guy has absolotely no experience in economic planing for any government or body , not on a perticipatory or advisory level. He is just a banker who got appointed to head first bank 6 mths ago.

Look at how far we have gone since the obasanjo years. We have lost so much face in the international front. You cannot even compare the calibre of our policy makers to that of Ghana.

I thought common sense will prevail and Yaradua would hold unto Soludo.
Now we are going to loose his services once again to world bank and united nations !
We've lost Okonjo Iweala and Oby Ezekesili because of petty politics.
Now we've also lost this guy.
Do we just prefer mediocrity in Nigeria ?

sunmatajai:

If going by merit Sanusi meet it, he should be allowed to go for this position.
Cheer.

Ajailomo

See the qualifications of renowned central bank governors in Europe, UK and the US.
Soludo was so up to scratch and was a genius.
Sanusi is alright but is just a proffessional banker.
PROFFESSIONAL BANKERS SHOULD'T RUN CENTRAL RESERVE BANKS.
I thought we got over this in 2004 when Soludo was appointed.
Looking at his resume, there are thousands of individual qualified to run CBN.
Central Banks are run by whizes and tacit Economics not this light weight Sanusi !

BACK TO BUSINESS AS USUAL

From my own point of perspective this thread should be duely named "Sanusi Set For CBN- •‘it’s Going To Be Business As Usual’"
It is sad that Nigeria takes steps backwards under the watch of every Nigerian.
When Soludo was appointed Governor of the central bank did anyone remember that this was the first step in the trend of appointing seasoned/technocrat economists as CBN governors.
Can someone have a look at the profile of central \Reserve bank heads including Alan Greenspan, Ben Bernanke, Sir Edward George , Mervyn King etc
Even that of Dr. Paul A. Acquah (bank of Ghana)
NONE of them had professional banking experience but where sound economists mostly in academia.
Soludo fell into that group and that is why for the first time we had a central bank governor that actually had an impact aside having his signature on the naira.
You need to do some research to find out why academicians/technocrats are more suited for the job.
Sanusi guy might be an excellent banker but why is our situation so perculiar. Is it that we are different or cursed !

And to know that the president on many occasions commended Soludo for a job well done and still replaced him after bowing to cronies BEATS ME !
The fact that he replaced a CBN governor who now has a global role BEATS ME !
The fact that he was so compelled to do it at this point in time of global recession BEATS ME !
The fact that the choice of this nations economic decision makers is completely exposed to political turbulence and sentiments (such as zoning CBN governor) BEATS ME !
What are we going to have next, a party card carrying CBN governor ?
Nigeria, when are we going rise up from mediocrity and underachievement.

BenHundred:

Im happy to hear this. If Soludo is the "best" Governor to have run cbn why has the naira continued to depreciate? Why does our economy keep falling? I just want answers not a fight. And nothing about his religion has to do with this.

It's because having an undiversified economy, your only source of foreign exchange earnings has taken a serious beating. No one can do much about the value of the Naira in the open market aside artificial interventions or letting loose the foreign reserves.
He's neither your finance minister nor your president. He can do little or nothing about jobs, NEPA and infrastructure. The best he has accomplished is the boost to the economy, the financial sector where he's got control is offering under his care.
Basic Economics is required for threads like this!

It is a shame ! I have admired the igbos for their rise from an impoverished , deprived ethnic group as at after the civil war, to the geopolitical zone with the lowest poverty rate and highest education rates at present. I do not think that the zone needs a CBN governor or even a president to go ahead . This also applies to other zones in Nigeria. As long as you patronize this tribal b***s***, they will continue to sell.

GREATEST LIVING NIGERIANS MUST BE REVOLUTIONARIES.
Emeagwali is a fraud ! It irritates me to see this man being extolled by himself and a lot of Nigerians. Could we not waste any more time on this man.
Wole Soyinka, Chinua Achebe Great genuine internationally acclaimed individuals. They are revolutionaries because they put african literature on the world map
Wole Soyinka a man I respect should do more for aside criticizing in the national context.
Dora Akunyilu a revolutionary in assuring drug and food quality assurance , I think she should distance herself from the present administration.
Nuhu Ribadu wasn't perfect but is a revolutionary as he dared to combat corruption in high places.
Olusegun Obasanjo no where near perfect but but has had the most positive impact on Nigeria than any other as president (1977 -79 /1999-2007)
[list]
[li] Apppointed the likes of Akunyilu, Ezekwesili, Soludo, Ribadu who I consider revolutionaries.[/li]
[li] First president who dared to hand over to a civilian govt as a military president[/li]
[li] Successfully handed oversaw a continuation of democracy in 2007[/li]
[li] Indigenized Nigerias private sector in his  two terms as president.[/li]
[/list]
This man has a huge number of faults but he also has the highest amout of credits to his resume of any living polititian past or present. We need to give him more credit.
At the end of the day ojukwu did more harm than good to his tribesmen/ women and absolutely nothing for Nigeria as a whole.
Chukwuma Soludo revolutionalised banking in nigeria and as done a fatastic job on nigeria fiscal policies as long as you do not judge him as an economic minister.
[list]
[li] Foresaw the weakness in Nigerias financial sector (which many in America and Europe did not see) by shoring up the capital base , something which is now being recommended as a fallout of the bank stress tests[/li]
[li] Has been appointed into a global committee to oversee the new direction for the world financial systems.[/li]
[/list]
There might be more I have left out but I will like to see more individuals who have succeded in effecting some kind positive revolutionary change.

biina:

and why should the opinion of the IMF or UN be used as a reference for measuring the performance of a CBN governor?

You might be right. Can you give me a list of authorities Global or in  Nigeria whose opinions are more suitable. You, Jimoh Ibrahim or Yaradua.
Go head and make me laugh !

biina:

The only reason Nigeria would be immune to the recession is that we are so far back, there is nowhere lese to recede to.
I do agree with you though, that Soludo should leave (but definitely not for the reasons you cited)

Believe me it could be worse. There has been a spike in the number Nigerian proffessionals in dispora returning to the "so far back Nigeria".
RELATIVELY, based on our economic status we're not doing badly.

As a central bank governor whose prime duties are fiscal policies, I think has been excellent.  Even confirmed lately by the IMF.  http://www.thisdayonline.com/ncomments.php?id=141557#210861.
He has recently been appointed by the UN Into the global Financial Task Force on the global recession.
http://www.unelections.org/?q=node/1028
Most of you don't know who the minister of finance or minister of commerce and industry has been over the past 5 years apart from Ngozi Okonjo-Iweala. Hence the CBN governor being the obvious culprit. These political appointees don't have ideas on how to revamp or direct the economy. So we blame him for NEPA, Stock market, unemployment etc
RELATIVELY, I think Nigeria has so far been immune to the global recession. There hasn't been massive layouts or bank bailouts/ failed banks.
The Naira has fallen 20% to the dollar compared to the pounds 45% and euros 25% just to name a few. This has been accomplished without depleting our foreign reserve as in the case of Russia.
Personally I think Soludo should leave considering he is just too good for Nigeria. An underachieving nation of underachievers!