Sanusi Lamido Sanusi, the Central Bank of Nigeria (CBN) governor, says he will not renew his contract when his five- year term expires in 2014.
The 51-year-old has led the CBN since 3rd June 2009.
Speaking in a CNBC Africa’s interview, Sanusi said it was never his intention to stay longer than one term.
Appointed in the midst of a debt crisis that threatened the collapse of the nation’s banking system, Sanusi, 51, fired the chief executives of eight lenders within four months of taking office. An audit of banks at the time found evidence of mismanagement and reckless lending.
In 2011, the London-based The Banker magazine unanimously recognised him as the Central Bank Governor of the Year 2010 citing his radical anti-corruption campaign aimed at saving 24 banks on the brink of collapse and pressing for the managers involved in the most blatant cases of corruption to be charged and, in the case of two senior bankers, imprisoned.
Nigerian inflation probably won’t accelerate too far above 10 percent this year, Sanusi told CNBC. The inflation rate rose to 9.5 percent in February from 9 percent in the previous month.
“We don’t think we are going to see inflation above double digits this year,†he said.
Source: Businessday
