6 Candidates Listed To Replace Central Bank of Nigeria Governor

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sanusi-lamido-sanusi-cbnThe soon-to-be vacant governor’s position at Nigeria’s Central Bank (CBN) is set to create a tussle for the suitable candidate to replace Mallam Sanusi Lamido Sanusi – current head of the apex bank.

An investigation carried out by This Day, revealed 6 leading names for the race to ascend the financial throne, perfectly splitting the potential candidates into 3 outsiders and 3 insiders.

The outsiders who are expected to pursue a more expansive approach to running the economy include GMD/CEO of Access Bank Plc, Mr. Aigboje Aig-Imoukhuede, known for his aggressive transformation that led Access to become Nigeria’s 4th largest bank in 8 years, MD/CEO First Bank of Nigeria Limited (FBN), Mr. Bisi Onasanya, and the head of Asset Management Corporation of Nigeria (AMCON), Mr. Mustafa Chike-Obi, a seasoned financial expert and former senior at Goldman Sachs.

The other half, which consists of insiders include Dr. Kingsley Moghalu, CBN Deputy Governor in charge of financial systems stability; Mr Tunde Lemo, Deputy Governor Operations Directorate CBN and Dr. Sarah Alade, Deputy Governor, Economic Policy. The insiders are expected to provide continuity with current financial reforms and policies.

Whoever succeeds Sanusi at the helm will become the 11th CBN governor, and would be expected to further the financial progress witnessed during the present regime, by employing key policies that will drive economic development in the country.

Sanusi’s decision to opt against re-election was met with mixed reactions, with advocates for a stable economy – high interest rates and a strict monetary policy – saddened by the perceived end to a successful economic recovery, following the 2008 financial meltdown that threatened to cripple the West African giant’s economy.

The other side of the coin however, believes an opportunity for a more expansive approach – lowering interest rates and attracting greater investment – that will swiftly stimulate growth is on offer.

Sanusi is in his final tenure, expected to elapse by June 2014

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