Aig-Imoukhuede: I won't turn down appointment as CBN governor

One of the persons favoured to clinch the job of superintending the macroeconomic management of Nigeria's economy as the Governor of the Central Bank of Nigeria (CBN), Mr. Aigboje Aig-Imoukhuede, has said that he was open to such an appointment.

Aig-Imoukhuede, who retires form the Access Bank Plc which he led from a listless bank into one of the top five, is close to this administration and has served it in the capacity of the chairman of the probe panel that investigated the over-bloated oil subsidy in 2011.

His strong links with the key officials of incumbent administration appear to give an edge over most other top contenders who do not have such connection..

Sanusi, who retires from the bank at the end of June 2014, has put himself off table for a second term consideration. .

Given his controversial approach to central banking, it is difficult to imagine that President Goodluck Jonathan would have reappointed him. Many believe is too garrulous and had ofte

Aig-Imoukhuede, 47, spoke  in an interview with the UK-based Banker magazine.

He said, 'For a professional banker, who has operated as a CEO and had an exciting career, I guess it would be impossible to say that the opportunity to go one level up and work as the head of the apex bank would not appeal. 'It's appealing in that context. And it's appealing if you have a developmental focus, which I do. It's obviously a platform from which you can have a major impact on the country. 'But at the same time, I'm very aware that such positions are political by nature. It's flattering so many people think I'm qualified. But, frankly, you leave it to those with the political power to decide.'

Aig-Imoukhuede was full of praises for Sanusi, who many see as too garrulous for the job oof the CBN governor.. He said that monetary policy under Sanusi, which has led to exchange rate stability in recent years and inflation falling to 7.9 per cent in November, its lowest level since early 2008, is more transparent and sophisticated than ever.

'Mr. Sanusi has taken it to the next level. In terms of his price stability mandate, compare our macroeconomic indicators as a country with other emerging markets. You would have to say that this central bank is operating at an outstanding level.

'I don't think we've ever had as many PhDs within the central bank as we have today. Unlike in the past, the central bank, from a talent and capacity standpoint, is in some respects ahead of the (commercial banking) industry,' he added.

In trying to describe the Nigerian economy, Aig-Imoukhuede said: 'Nigeria is a team that has great potential and resources. However, we know that the team is not playing well. The issue is simply that with more effective management, it can go from a great potential case into a fantastic team.

'We have competent managers in many aspects of the Nigerian economy. We have not so competent managers in other aspects of the Nigerian economy. One of the most important of those managers will be the next person in charge of the central bank.

'Nigerians will be hoping that whoever takes over next year will be as effective as Sanusi at helping their country turn its potential into reality.'