Analysts Examine CBN Governor’s Performance In Office

By IAfrica
In Nigeria News Feed
Feb 3rd, 2014
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As the tenure of incumbent governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi, ends in less than five months from now, analysts are examining his level of performance in office. 

Today, on Channels Television’s programme, Business Morning, two economists, Mr Ayodele Teriba and Mr Henry Boyo x-rayed the CBN governor’s achievements and shortcomings since he assumed office.

They commended some of his efforts which include a more transparent monetary policy management which has helped in stabilizing the nation’s financial market.

For most of his five-year term, the policy thrust of Sanusi Lamido Sanusi has been towards tightening of monetary policy which to a large extent, has ensured a stable foreign exchange and price stability and has  instituted reforms that stabilised the banking sector.

However, the economists said that the CBN governor left out some key areas untouched as he focused more on financial stability other than economic stability.

According to the economists, the next CBN governor will have to contend with the same issues that the predecessor has had to grapple with in the last few years, such as Nigeria’s import dependency, inadequate revenue diversification and fiscal slippage among others.

They also believe that the upcoming elections will also add to more challenges to the new governor in his first year in office.

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