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Thursday, January 6, 2011


The Governor of the Central Bank of Nigeria, Mr. Lamido Sanusi, has been named by The Banker, a global financial intelligence magazine, as the World Central Bank Governor for the 2010 financial year.

The Banker, a publication of Financial Times, London, which is regarded as the most influential newspaper in the world, is a global financial intelligence magazine published since 1926.

It is a publication that provides guide to bank ratings and analysts globally, and the definitive reference in international banking for finance experts, governments, chief finance officers, central bank governors, finance ministers and other decision makers globally.

A statement signed by the Country Representative of the magazine, Mr. Kunle Ogedengbe, noted that the apex bank governor won the award owing to his resolve at “salvaging a crumbling financial sector.”

The magazine noted in its 2011 January edition, which will also be distributed at the World Economic Forum, Davos, Switzerland, that in the last 18 months, Sanusi had implemented series of reforms that had return Africa’s second biggest financial market back to recovery.

The Editor of the magazine, Mr. Brian Caplen, in the statement, said that the CBN governor was unanimously chosen by the panel of judges out of the many candidates, whose names were submitted for the award due to some of his striking qualities.

Caplen listed some of the qualities that earned Sanusi the award to include his radical anti-corruption campaign aimed at saving 24 banks on the brink of collapse, as well as securing convictions of some of their chief executives.

Others are pegging the tenure limit of banks’ CEOs at a maximum of 10 years, and strict disclosure of financial records in the books of Deposit Money Banks.

He noted that the reforms of Sanusi would enhance the quality of Nigerian banks, establish financial stability in the system; provide enabling and healthy financial-sector evolution, as well as ensure that the financial sector contributed to the real sector rather than just serving the banking sector alone.