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Sanusi on Award: It Wasn’t Easy

Sanusi on Award: It Wasn’t Easy

Although he’s received the Central Bank Governor Award for Sub-Saharan Africa three times, it hasn’t been easy, said the Central Bank of Nigeria’s governor Lamido Sanusi.

Stabilizing the inflation rate required cooperation of the federal government, finance ministers Mukhtar and Okonjo-Iweala, and some 6,000 bank employees, he said in AllAfrica.

“We have worked day and night through the banking crisis and now we are working toward restoring stability, financial inclusion and payment system transformation,” Sanusi said.

Even though the working relationship between the finance ministry and the CBN was often a hostile one, Sanusi said, both sides continued to respect the other side’s opinion and worked through it.

The CBN Deputy Governor on Economic Policy, Dr. Sarah Alade, said that the recognition among peers was an affirmation of their actions.

“The efforts at being able to have macro-economic stability has been recognized and that is an attestation to the hard, collective and collaborative work we do with Ministry of Finance and all the other agencies,” she said.

Adebowale Adefuye, Nigeria’s ambassador to the U.S., concurred. The award showed the international community’s confidence in the Nigerian community and in Sanusi, he said.

The award, given by “Emerging Markets Magazine,” was presented on Saturday in Washington, D.C.  In presenting the 2013 award, managing editor John Orchard said that Sanusi had maintained macroeconomic stability in spite of the many challenges the Nigerian economy faced during this time, according to Punch.

Tunde Lemo, the CBN Deputy Governor of Operations, remarked that when Nigeria’s structural reforms are completed, reported AllAfrica, the economy will experience double-digit growth.