Respite for Sanusi

Fri, Jan 17, 2014
By publisher


Donald Kaberuka, president of the African Development Bank has commended Sanusi Lamido Sanusi, governor, Central Bank of Nigeria, for the excellent job he is doing in the banking sector shortly after the governor was named as one of the speakers at a two-day global forum on infrastructure in February in Congo, Brazzaville

By Maureen Chigbo  |  Jan. 27, 2014 @ 01:00 GMT

LAMIDO Sanusi Lamido, governor, Central Bank of Nigeria, CBN, is getting a respite after the brouhaha over the alleged unremitted $49.8 billion from crude oil sales and the resultant controversy over allegation that President Goodluck Jonathan has asked him to resign. Shortly after he was named as one of the speakers at the global forum on infrastructure holding in February in Brazzavile, Congo, Sanusi, who is to retire June 2, has been commended for piloting financial stability in the country.


Donald Kaberuka, president of the African Development Bank, AfDB, who was in Nigeria to receive the award given to him by the Daily Trust newspaper and to meet the bank’s clients, said when he visited Sanusi in his office on Wednesday, January 15, that the CBN, under Sanusi’s leadership, had been innovative in addressing the challenge of the global financial crisis as it concerned Nigeria. In commending apex bank, the AfDB President observed that the institution had demonstrated that it was not enough to have regulations, stating that beyond that there must be enforcement, sanctions and then resolutions.

Responding, Sanusi congratulated Kaberuka on his award, describing the Africa 50 Fund, which AfDB was about floating to finance investment in infrastructure as a good idea which represented a crucial element that must be unlocked if the African economy was to grow. He recalled that the 1960 witnessed huge investment in infrastructure and therefore emphasised the need for African countries to address the continent’s infrastructure challenge if there was to be positive change.

Vicente Fox

Sanusi along with Vicente Fox, former president of Mexico and Xavier Sala-I-Martin, professor of Economics at Columbia University, New York, United States of America, USA, and chief economic advisor, Center for Global Competitiveness and Performance at the World Economic Forum in Davos, Switzerland, will be speaking at the two- day forum on infrastructure in Africa from February 5 to 7. Organised by the Build Africa Forum, the event is to be held under leadership of Denis Sassou N’Guesso, president of the Republic of the Congo. The announcement of the speakers, which was made on Tuesday, January 14, said they would share their experience in policy-making and speak to the power of infrastructure as a tool for growth and economic and social development.

Xavier Sala-I-Martin

Sanusi was appointed governor of the Nigerian Central Bank on June 3, 2009. Less than two months after his appointment, he led the Central Bank’s rescue of Afribank, Intercontinental Bank, Union Bank, Oceanic Bank and Finbank. He has been recognised as Central Bank Governor of the Year for Africa. In 2011, TIME magazine recognised Sanusi as one of the 100 most influential people of year. Sanusi will offer insight into the possibility of an infrastructure bubble in Africa, considering whether it poses a real threat to the continent or is simply a groundless concern.

Fox, who ruled Mexico from 2000-2006, is described as a visionary leader with a deep understanding of the economic and social challenges facing emerging economies. He is one of the world’s most important voices on the contemporary geo-political landscape and the role of business in the developing world. Fox will share his experience in developing Mexico’s economy and industry and offer insights into the challenges and opportunities facing emerging economies.

Denis Sassou N'Guesso

Sala-i-Martin’s has spent his career teaching, researching world economics, and consulting with governments and international financial institutions. Besides his activities as a professor in the world’s most prestigious academic institutions (Columbia University, Yale University, Harvard University), he regularly advises the World Bank and the International Monetary Fund. At the Build Africa Forum, he will share his views on Africa’s economic environment, and investment climate, and offer decision makers wishing to do business in Africa insights on competitiveness and innovation.

About 500 leading policy-makers, investors, developers, and infrastructure operators including global players like Robert Gumede, founder and owner of Guma Group (South Africa) and Otavio Azvedo, president of Andrade Gutierrez (Brazil) will be at the event. Others are Mario Pezzini, director of the OECD Development Center (France), Tas Anvaripour, director of African Development Bank, AfDB’s, Africa50 fund (Tunisia), Tewolde Gebremariam, chief executive officer, CEO,  of Ethiopian Airlines (Ethiopia); and Cesare Trevisani, CEO of the Trevi Group (Italy).

The Build Africa Forum is organised in partnership with the AfDB’s Africa50 Fund and The World Bank. More than 500 business and political leaders, who will attend the event, will endeavour to find innovative solutions to Africa’s numerous infrastructure challenges.