Lamido Sanusi wins the Sub-Saharan Africa Central Bank Governor - Again
Category: Capital Market
Sunday, September 25, 2011 11:52 AM
Washington DC: 24th September, 2011 - The Governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, has been announced winner of the 2011 Central Bank Governor of the Year Award for Sub-Saharan Africa for the second consecutive year, by the international magazine Emerging Markets.
The Emerging Markets Awards, an annual event alongside the IMF/World Bank annual meetings, was held in Washington D.C. and attended by Central Bank Governors, Finance Ministers and Bank Chief Executive Officers from across Latin America, Africa, Middle East and Asia.
According to the Editor of Emerging Markets, Taimur Ahmad, the awards recognise and honour the leading policy makers in each region as adjudged by theeditorial team taking into account the views of leading regional experts. He stated that Governor Sanusi was recognized for the second year running “for his strong policy track record and continued bold reforms in monetary policy over the past year.”
“The Central Bank of Nigeria (CBN), under Governor Sanusi’s stewardship, has consistently been ahead of the curve. Governor Sanusi has also continued to push through a radical financial sector reform agenda, while having the courage to draw attention to corruption and misuse of funds,” Ahmad said.
Accompanied by two Deputy Governors of the CBN, Dr. Sarah Alade and Mr. Tunde Lemo, some Nigerian bank CEOs and other well-wishers, including the Nigerian Ambassador to the US, Prof. Ade Adefuye, Governor Sanusi attributed his award to the collective efforts of his CBN colleagues, and the support of the Federal Government and the law makers of Nigeria. He acknowledged that the reform process has been challenging even as he affirmed that all the banks will be fully recapitalized by the end of September 2011, thus drawing a line under the banking crisis in Nigeria.
“We have done all of this without losing any depositor funds,” Sanusi asserted. “Furthermore, the banks themselves are paying for the bail-out and the reforms, not the taxpayer.” His remarks carried intimations that the Nigerian banking reform experience could provide some lessons for Europe which continues to grapple with their own financial crisis while bankruptcy looms for many of its countries. He called for better preparedness for the inevitable repercussions for African countries.