Wednesday, November 4, 2009

Nigeria: Apex Bank Chief is Man of the Year

Nigeria: Apex Bank Chief is Man of the Year

Mr. Sanusi Lamido Sanusi, the fearless governor of the Central Bank of Nigeria (CBN) has been named the Man of the Year by Nigerians Report, the premier news blog of the most populous country in Africa.

Nigerians Report described Mr. Sanusi as “A ‘sanitary officer’ to bank on for cleansing the stench in our banking stables” and commended him for his laudable sanitization of the Nigerian banking industry; for having the conscience to do the right thing which his predecessor, Mr. Chukwuma Soludo failed to do, particularly the sacking of corrupt CEOs and executive directors of mismanaged banks.

Mr. Sanusi’s disclosures of the sharp practices by Nigerian banks rattled the general public, embarrassed the bankers and disgraced the celebrated billionaires as big debtors siphoning millions of dollars as loans to enrich themselves and many of the banks were rendered insolvent.

The erudite risk management expert is seen as a hatchet man by Nigerian banks, but his radical reforms have been hailed by the World Bank, International Monetary Fund (IMF) and other global financial bodies. Mr. Sanusi has a genuine and sanguine view of Nigerian financial institutions, forecasting that the Nigerian economy will be bigger than that of South Africa by 2012.

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