Sarah Alade Appointed as Special Adviser on Finance and Economy by President Buhari

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Tuesday, November 05, 2019  /  02:35PM  /   By Olufemi Awoyemi  /   Header Image Credit: TheWhistlerNG    


President Muhammadu Buhari has approved the appointment of Dr (Mrs) Sarah Omotunde Alade, as Special Adviser to the President on Finance and the Economy, domiciled in the Ministry of Finance, Budget and National Planning.


This was contained in a statement issued by the Senior Special Assistant on Media and publicity, Mr. Garba Shehu.


Recall: The President's Economic Men - Understanding The Next Phase of Economic Management


Dr. Alade, who holds BSc (Economics) and PhD in Management Science (Operations Research), retired from the Central Bank of Nigeria (CBN) as Deputy Governor in 2017 after spending 23 years in the apex bank. She had also acted briefly in 2014 as the CBN Governor.


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About Dr (Mrs) Sarah Omotunde ALADE


She was the former Chairperson of FMDQ where she is credited as having shepherded the establishment of FMDQ, in collaboration with other financial markets stakeholders, and led the OTC Exchange in accomplishing many firsts such as the listings and quotations of Federal Government of Nigeria Bonds and Treasury Bills on the OTC.


She is however more widely known for her role as the former deputy governor (Economic Policy) of the Central Bank of Nigeria (CBN) from 26 March 2007 till when she was called upon to act as the Ag. Governor of the Central Bank of Nigeria during the suspension of Sanusi Lamido Sanusi (as he then was) for the remainder of the tenure. She was subsequently appointed to the post by President Goodluck Jonathan on 20 February 2014 till the formal appointment of Godwin Emefiele as the substantive Governor of the Central Bank of Nigeria.


Dr. Alade is academically and professionally sound. She attended the University of Ife, Ile-Ife, where she obtained a B.Sc (Hons) degree in Economics in 1976. She also obtained an M.Comm degree at the University of Melbourne, Australia in 1983 and a PhD Management Science (Operations Research), from the University of Ilorin in 1991.


She commenced her working career in 1977 with the Ministry of Finance and Economic Development, Ilorin, Kwara State. In 1991, she joined the University of Ilorin as a lecturer in the Department of Accounting and Finance. She joined the Central Bank of Nigeria in 1993 as an assistant director in the Research Department, where she served as head of the State Government Finance Office (1993-96), head of the Federal Government Finance Office (1996-2000) and head of the Fiscal Analysis Division (2000-04).


Dr. Alade has served on the teams on major economic policy studies and has been involved in the preparation of Central Bank of Nigeria's monetary and credit policy proposals over the years. She was actively involved in the drafting of the Medium Term Economic Programme (MTP) for Nigeria and the IMF staff Monitored Programme/Standby Arrangement.


She was appointed director of the Banking Operations Department in May 2004. In that capacity, she served as chairman of the board of directors of the Nigeria Interbank Settlement System (NIBSS) as well as secretary of the National Payments System Committee (NPSC).


She was a member of the technical committee of the Vision 2010 and currently a member of the technical committee of Vision 2020 and member of the National Economic Management Team (EMT).


As deputy governor of Economic Policy, Alade superintended over the Economic Policy Directorate, comprising the Research, Monetary Policy, Trade and Exchange, Statistics Departments and Financial Markets Department. As chair of the Monetary Policy Implementation Committee (MPIC), she interfaced with operational departments and coordinated technical inputs for the Monetary Policy Committee (MPC).


Dr. Alade, who is a member of the Nigerian Economic Society (NES) and a fellow of the Nigerian Institute of Operational Research. She has several publications to her credit and undertook a research study into interest rate policy and monetary policy implementation in Nigeria.


Dr. Alade is currently the Chairman, NESG Fiscal Policy Roundtable.



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