What if the FG sacks Sanusi?
NaijaRock
Home | Anything | ( 2 ) | Subscribe
Posted by Felix Okoli on May 03, 2010 at 15:08:15:
I have been thinking, what would really happen if the Federal govt, with the wave of sacks, dismissals and reshuffling going on in top government positions in Nigeria, decides to sack the Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi? There have been rumours and stories on several Nigerian websites and even some newspapers of the impending removal of the Sanusi from his position just in order to restore the confidence of stakeholders in the Nigerian economy. Everyone knows that since the exit of the former governor - Prof. Soludo and the entry of the current - Sanusi Lamido, the nation's economy has been drastically shaken particularly with the crashing and concurrent crashing of Nigeria's once profitable capital market. Even now, Nigerian banks which were for a little while regarded as most capitalized institutions in Africa are no longer giving loans and even shareholdings are no longer accepted as collaterals by the banks. All these came about due to the different changes brought into the industry by the CBN.
Sanusi has definitely stepped on a lot of toes with his many changes and especially when he harassed bank debtors with the EFCC to return their loans even prior to their maturity dates.
The Nigerian stock market has practically come to its lowest level in years and investors no longer have confidence in the system while market movers no longer have access to liquidity to invest for short term profit.
I wouldn't exactly know what to say concerning Sanusi's performance so far, but what if he is eventually sacked by Jonathan before his tenure expires as CBN governor, what would be the effect on Nigeria's economy, particularly the financial sector, I'm guessing stock prices would rise.
Comments:
I have been thinking, what would really happen if the Federal govt, with the wave of sacks, dismissals and reshuffling going on in top government positions in Nigeria, decides to sack the Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi? There have been rumours and stories on several Nigerian websites and even some newspapers of the impending removal of the Sanusi from his position just in order to restore the confidence of stakeholders in the Nigerian economy. Everyone knows that since the exit of the former governor - Prof. Soludo and the entry of the current - Sanusi Lamido, the nation's economy has been drastically shaken particularly with the crashing and concurrent crashing of Nigeria's once profitable capital market. Even now, Nigerian banks which were for a little while regarded as most capitalized institutions in Africa are no longer giving loans and even shareholdings are no longer accepted as collaterals by the banks. All these came about due to the different changes brought into the industry by the CBN.
Sanusi has definitely stepped on a lot of toes with his many changes and especially when he harassed bank debtors with the EFCC to return their loans even prior to their maturity dates.
The Nigerian stock market has practically come to its lowest level in years and investors no longer have confidence in the system while market movers no longer have access to liquidity to invest for short term profit.
I wouldn't exactly know what to say concerning Sanusi's performance so far, but what if he is eventually sacked by Jonathan before his tenure expires as CBN governor, what would be the effect on Nigeria's economy, particularly the financial sector, I'm guessing stock prices would rise.
Comments:
-
Re: What if the FG sacks Sanusi?
Posted by Nkiru
on May 23, 2010 at 00:42:42:
It is possible that one day we would hear that Sanusi has been sacked or something. Anything can happen. Only drastic change can really move us forward cos the economy is shrinking and Nigeria is almost going broke and the CBN needs to do something to resuscitate the economy