The Federal Government has been called upon by analysts to ensure early announcement of the successor to Sanusi Lamido Sanusi, Central Bank of Nigeria (CBN) governor, as this can guarantee a fair assessment of the accompanying institutional and monetary policy risks. Besides, they argue that it will ensure a smooth transition process and possibly address market concerns about a possible shift towards a more accommodative monetary policy stance by the incoming governor. Informed sources say the leading contenders for the office of CBN governor are Aigboje Aig-Imoukhuede, out-going MD/CEO of Access Bank, and Sarah Alade, deputy governor, economic policy, as well as Kingsley Moghalu, deputy governor financial systems stability, both of the CBN. The advice to announce a successor in good time, is coming just as Babatunde Lemo, Deputy Governor in charge of the Operations Directorate at the Central Bank of Nigeria (CBN) and one of the contenders to the exalted position, alongside the other two deputies, will retire from the apex Bank formally tomorrow, Friday, November 10, 2014, after serving two full terms of five years each. The fears of the possible market concern stem from the commencement of the Quantitative Easing tapering by the United States, with the attendant possibility of foreign direct investment reversal. Read more Business day.
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