I won’t seek second term as CBN Governor- Sanusi

Sanusi lamido sanusi
Sanusi Lamido Sanusi

Lamido Sanusi said he has no intention to remain Governor of Nigeria’s Central Bank beyond 2014.

Putting paid to rumours of an extension of tenure, Nigeria’s Central Bank Governor, Sanusi Lamido Sanusi, has stated that he would not seek a renewal of his tenure when it expires in April 2014.

The Governor made this known in a CNBC Africa interview in Abuja, as reported by Bloomberg on Wednesday. Mr. Sanusi said he never intended to stay beyond a single tenure and would not renew his contract when his five- year term expires next year.

An investment bank, Renaissance Capital, said they were intimated in February, by the Central Bank Governor of his decision not to return for second term.

“This implies that monetary policy is likely to remain firm in the short term” the investment bank said, while analysing implications of this decision.

“Given that Sanusi will soon be exiting, we believe that he’d like to leave a legacy of the stability that he has restored since coming into office. Interest rates are thus likely to remain high and liquidity relative tight, which is positive for the naira but negative for credit growth,” the organisation said.

“Given the calls from various that monetary policy becomes more accommodative post-Sanusi. Lower interest rates and looser liquidity may imply a weaker naira but would be positive for credit growth,” the organisation added.

The Central Bank Governor, who has led Nigeria’s banking regulatory body since June 2009 is due to leave office in April 2014. One of the highlight of his career includes the sacking of eight chief executives of banks within four months of taking office, as audit of the banks at that time revealed infractions, mismanagement and reckless lending.

Mr. Sanusi is also credited with leading the Nigerian banks’ reform, which has helped restore some accountability, sanity, and confidence in the nation’s banking sector.

In 2011, he was named central bank governor of the year by London-based The Banker magazine, aside other national and international awards.

While Mr. Lamido insisted that he never intended to seek a second term, industry stakeholders argue that due to his ‘controversial’ ways, he might not be granted a second tenure even if he tried.

  • Innocent

    Presidency 2015 or Kano Emirate on his mind.

    • Omo Odua

      Go and check, Bayero University already reserve an office for him!!!!

  • lozzyfather

    who be wan give am before?

    • Adoki

      Jonah.

  • bitrus

    we shall miss you sir.
    i believe the cbn governor is not interested in 2015.
    he wants to become the next emir of kano.
    may the almighty God grant his wish, amen

  • BlackieUmukoro

    Not appointable for a second term, so no need to apply. Wise decision to save a damaged tenure

    • babansa

      You will forever remain tribalistic. Shame on you!

    • true born naija

      Stop hating! If u cant c the good job this fella has done then ur most definately deceiving urself. Ths guy has received lots of accolades @ home and abroad because of his acrobatics at the helm of affairs of the cbn. Lets be realistc and stop player hating based on religious differences or because u feel the man in question happens to be where u perceive as being the wrong divide of the country the predominantly muslim north. And so also if u may need to knw sanusi attended a catholic school @ a tender age.

      • Ameer Abubakar

        Soludo received so many accolades too and was rubbished after leaving office. So no be today yansh dey back. He is the worst cbn gov in the history of this country. I have been in Banking for 20 yrs so I know what I am saying. We are just tolerating him for as long as its last. Over 100,000 people have lost their jobs in banking since 2009 and by extension 400,000 persons lost livelyhood, is that a good legacy ?

  • igbiki

    GOOD RIDDANCE…

  • Bem Kator

    SLS’s cup is full. He has sensed it as such and don’t want to fish in troubled waters in oreder not to end up like Soludo.

  • Omo Alayo

    He should be sacked before the end of his nonsense tenure.

  • http://www.facebook.com/deri.orbuka Deri Orbuka

    Forget it- there are other ethnic groups from the North yearning for that post-what about the Yoruba and ijaws-apart from that you have not faired well