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AFRIPOL CONGRATULATE THE NEW GOVERNOR OF CENTRAL BANK OF NIGERIA MR. SANSUI LAMIDO SANSUI

By Emeka Chiakwelu

Mr. Emeka Chiakwelu, the Principal Policy Strategist at Afripol (Africa Political and Economic Strategic Center), the Staff and Management of our organization congratulate

Mr. Sanusi Lamido Sanusi on his appointment to succeed Professor Soludo as the new executive governor of Central Bank of Nigeria by his Excellency President Umaru Yar'Adua. Now with his confirmation by the Senate, Central Bank of Nigeria will be led by a pragmatic intellectual and a brilliant banker.

At this juncture in Nigeria's financial life with our noted predicament, a man of proven intellect, prestige and experience we found in Mr. Sanusi Lamido Sanusi is exactly what Nigeria needs. Without unconstructive interference, the new governor of Nigeria's apex bank is capable of delivering an excellent service.

The task at hand is almost overwhelming; the problem of inflation is always knocking at the door of Nigeria's economy. With the instrument of governance at his disposal particularly monetary policy, Honorable Lamido Sansi can utilize it as a bulwark against inflationary trends. The rejuvenation of the Naira currency must be at top list of priority. The stabilization and convertibility of naira especially the re-denomination must be revisited for the readily convertibility of the currency. The convertibility of any currency remains the fundamental and rudimentary to foreign exchange transaction. Although naira is relatively stable but it is weak, soft and sinuous when exposed to major currencies including dollar, euro and others. Therefore naira must be protected and re-energized in the currency and capital market.

Therefore be at guard to defend Nigerian monetary and financial integrity: To build the confidence of prospective and participating investors and deterred capital flight. Your past performances buttressed that you can step into the shoes of the outgoing financial stalwart Soludo and take our beloved country Nigeria to a greater height.

Afripol organization and its experts are ready to contribute to the success of this great task.


Emeka Chiakwelu is the Principal Policy Strategist at Afripol Organization. www.Afripol.Org [email protected]

Africa Political and Economic Strategic Center (Afripol) is foremost a public policy center whose fundamental objective is to broaden the parameters of public policy debates in Africa. To advocate, promote and encourage free enterprise, democracy, sustainable green environment, human rights, conflict resolutions, transparency and probity in Africa.