CBN: Islamic Scholar To Replace Soludo

May 25th, 2009.

Barring last minute political maneuverings by hawks in government, Information reaching LOVEWORLD NEWS AGENCY indicates that the group managing director of First Bank of Nigeria Plc, Mallam Sanusi Lamido Sanusi, may be the new governor of the Central Bank of Nigeria.

Our sources say that the presidency may have settled for Sanusi, an economist, banker and Islamic scholar, as the new helms man to replace Chukwuma Soludo as governor of the Central Bank of Nigeria.

Lamido Sanusi who has already accepted the offer is expected to be presented to the public on May 29 to coincide with Democracy Day celebrations.

Sanusi is presently the managing director of First Bank of Nigeria PLC. He took over from Chief Jacob Ajekigbe on January 1, 2009, before then he was the bank’s executive director in charge of Risk and Management Control.

Sources say Sanusi is an innovative risk and management control whiz. The son of the late emir of Kano, Alhaji Mohammed Sanusi (1954 to 1963), he was a general manager with the United Bank for Africa Plc (UBA) where he cut his teeth as a financial risk manager.

Sanusi obtained first and second degrees in economics from the Ahmadu Bello University (ABU), Zaria. The Aristocrat from one of the ruling houses in Kano also holds a degree in Sharia and Islamic Studies from the University of Khartoum, Sudan.

Market analysts say Sanusi is intelligent but fear he may not match Soludo’s excellent records garnered in the last five years.

Professor Charles Chukwuma Soludo will be remembered as the CBN governor who introduced far reaching reforms in the Nigerian banking sector. His banking consolidation programs in 2005, experts say, is the master stroke that saved my banks from going under in the wake of the global economic meltdown.

Soludo’s greatest asset as the Governor of the Central Bank is his experience as a first-rate economist; a skill he lavishly employed to achieve macro-economic stability for the greater part of his tenure as Governor of the apex Bank.

Soludo’s tenure will expire this Friday.

Eliashib Ime-James.

LoveWorld News Agency 


4 Responses to CBN: Islamic Scholar To Replace Soludo

  1. Omoniyi Ibietan says:

    Mr. Sanusi Lamido Sanusi is first and foremost an Economist, Banker and reputable Risk Manager – all facts you acknowledged in this piece. So, why this story title? This is subjectivity and prejudice which confers a different profile on this nominee for the office of Governor of Central Bank of Nigeria. The degree in Shariah and Islamic Studies came after two earlier degrees in Economics from a reputable university in Nigeria and Mallam Sanusi Lamido Sanusi is known more as a banker, social commentator and thinker with a modicum of objectiveness. Please read more about him and his writings and you will realise you have been unfair with this caption.

  2. Hamisu Yakasai says:

    Some people are naturally mischivious. Whether any boy likes Sanusi or not, whether Sanusi is Islamic or Christian Scholar, it is no doubt that he has impressed all Nigerians by his brilliant perfomance at the special whole senate sitting where he was screened. The screening excercise was live on NTA. One intersting thing was that the senate approval was unanimous. There was not a single voice against this appointment and Sanusi was the first appointee for any position in government in the past 10 years that spent three and a half hours standing before the senate and answering questions.

    I join millions of Nigerians to CONGRATULATE Sanusi over this well deserved appointment.

  3. Istiphanus Magaji says:

    I totally agree with Mr. Ibietan above, the caption should have read “Economist, Banker and Islamic Scholar … “. The least you could have done would be to match him in objectivity (and let your readers decide).

    I have no personal knowledge of this gentleman but for the two short email exchanges that I had with him during the heated debate about the “stoning” of a young woman for adultery. I was very impressed by the way he took on those who were supposed to be knowledgeable of the subject and the courage, rationale and disciplined thinking that he brought to the discourse.

    I have no doubt that his commitment to the job will be equate to anybody else’s.

    Congratkulations Malam Sanusi!

  4. Daniel Oghenebrorhie says:

    The issue is not wether Mallam Sanusi Lamido Sanusi is a Moslem or an Islamic scholar, the issue that Mallam Sanusi Lamido Sanusi is an Islamic fundamentalist who holds a degree in Sharia and Islamic Studies from the University of Khartoum, Sudan with a special emphases on Islamic Banking.
    An Islamic fundamentalist who prefers Islamic Banking to the current type of banking system we have in place in Nigeria that is predominately Christians is a disaster waiting to occur.
    While I have no problem with he being CBN governor, I have concerns about his prefer for Islamic Banking. If his aim of being CBN governor is to advance and improve the banking and financial industry in Nigeria, but if his agenda is to Islamized the banking and financial industry, then we are in for real trouble.
    Sadly now barely two weeks after he foolishly removed the CEO’s and boards of 5 banks without thinking of the effect his action would have on investor’s confidence on our economy and its banking system he is already proposing Islamic Banking system for Nigeria.
    It is my hope that the Nigeria’s predominately Christians population are already seeing the danger ahead and start praying and preparing for the battle ahead.

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