October 11, 2010

 

[Washington, October 9^th 2010]: In recognition of his radical intervention in Nigeria’s financial sector to prevent a bigger collapse at the height of last year’s crisis, the Governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, has been awarded the accolade of Central Bank Governor of the Year, Sub-Saharan Africa, by the global business magazine, Emerging Markets.

 

The high profile ceremony, attended by several Central Bank Governors, Finance Ministers and Bank Chief Executive Officers from various countries in Latin America, Africa and Asia, was held at the Corcoran Gallery in Washington DC, alongside the IMF/World Bank 2010 meetings.

 

Handing out the award, the Editor of Emerging Markets, described Sanusi as one of the most energetic and tenacious figures in Nigerian business and lauded his courageous efforts in first of all rescuing the Nigerian financial sector and then reshaping it through an uncompromising focus on governance, which he said had received widespread acclaim as well as controversy.

 

Sanusi collected the award to a resounding applause particularly from the large Nigerian contingent, and said he was humbled to receive the award which he dedicated to the collective efforts of his colleagues at the CBN, and the unwavering support of the Federal Government and the law enforcement agencies of Nigeria.

 

President Goodluck Jonathan, in a congratulatory message to Sanusi, said; “the award is an endorsement of the single-minded dedication with which you have faced up to your duties as Governor of the CBN, and clear evidence of the success of our Administration’s committed efforts at stabilizing the financial sector and stimulating strong economic recovery”.  The President further assured the Apex Bank Chief and the entire management of the CBN of the unstinting support of his Administration and encouraged them to be even more committed to service to the greater glory of the nation.

 

Sanusi’s radical overhaul of the Nigerian financial sector continues apace having achieved legislative approval for the Asset Management Company that will buy toxic assets and strengthen the banks’ balance sheets. His uncompromising focus on governance and moral intolerance for bad bankers also received a boost by the conviction of the former Oceanic Bank boss who was removed from office and charged with corruption as a fall out from the audit of banks in 2009.

Source: Proshare