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Really, Who Is Sanusi Lamido Sanusi?

This article summerizes what many of us know, and have been saying on this topic from day one. Enjoy!

http://www.nigeriamasterweb.com/paperfrmes.html

Whither Is Lamido Sanusi Leading Nigeria? (2)

What or who exactly is Lamido Sanusi, Governor of the Central Bank of Nigeria?

Peter P. EKEH, professor at the State University of New York at Buffalo, is obviously not enamoured of the CBN boss.

The information we have on Sanusi’s preparation for his present position is sparse and unpublicized. We read that he did his undergraduate degree in Economics at Ahmadu Bello University, Zaria, graduating in 1981. We do not know in what area s of economics he specialized. It is traditional at that University to write a Research Essay in the final year. It would be important to know on what topic Lamido Sanusi wrote his essay. It is also good information to know what class of degree he earned to enable him to graduate from that University. The publicity piece on Sanusi on the Web site of Central Bank of Nigeria tells us that Sanusi took M. Sc. (Economics) courses, apparently without taking the degree at the end, although he is said to have obtained a distinction in Monetary Policy. Did he abandon the M.Sc. project? We are told that Sanusi returned briefly to teach at Ahmadu Bello University.

What subjects did he teach? These are elementary facts that should be available from a full curriculum vitae of the Chief Economist of the Federation. They are the sort of questions that any interviewing body would demand from any young academic who applies for the position of Lecturer or Senior Lecturer in any of our universities. In addition, we may demand to know from Nigeria’s Chief Economist whether he took any professional examinations in banking while he worked at ICON Limited (Merchant Bankers) and United Bank for Africa before he became the CEO of First Bank of Nigeria. Finally, it will be beneficial for our judgment of the qualifications of our national Chief Economist to gain information on whether his studies in Islamic Law at the University of Khartoum, Sudan, in the hiatus between his years at ICON Limited and UBA, were related to his banking profession. The Central Bank Web site informs us that Sanusi bagged a First Class degree in his Islamic Studies in the Sudan. These are not over-bearing or over-probing questions. We would know about such background of the Governors of the Central Banks of any other African countries from their curriculum vitae.

Perhaps more important is Sanusi’s publication record. Fortunately, in modern times several vehicles exist for accessing the records of anyone who has engaged in academic or professional publishing. For this exercise I have employed the liberal vehicle of Harzing’s Publish or Perish. The result for Sanusi Lamido Sanusi is distressing. He has ten papers listed. They come from such newspaper-grade media sources as www.gamji.com and Daily Trust. All of them are about Sharia, Islamic Law and women. None of them is about economics or banking. The Web site of Central Bank of Nigeria boasts that Sanusi has publications in learned journals, but none is listed. They surely do not appear in the public record.

What is compelling about Sanusi’s public record is that a number of things stand out when his publications are compared to those of other Governors of Central Banks in comparable African nations – using the same vehicle of Harzing’s Publish or Perish. With a record of forty-two publications listed, almost all of them focused on economic and monetary matters of Kenya, Professor Njuguna Ndung’u must be adjudged to be a formidable Governor of the Central Bank of Kenya. Also revealing is the publication record of the Governor of Ghana’s Central Bank. Since his doctoral thesis on A Macroeconometric Analysis of Export Instability in Economic Growth for the University of Pennsylvania in 1972, Paul Acquah has engaged in serious academic and professional discussions of macroeconomic issues for Ghana and other African nations (e.g., Zaire) as well as for the whole continent in published media. Ms Gill Marcus of South African Reserve Bank is formidable from several perspectives, including an impressive record of publications. Finally, Sudan’s Central Bank’s Governor, Dr. Sabir Mohamed Hassan, has an impressive record of published engagement with an analysis of his country’s economy.

Two features separate Lamido Sanusi’s published works from those of these other Governors of Central Banks of comparable African nations. First, they are not devoted to politics and religion – subjects to which Sanusi appears wholly committed, to the apparent exclusion of economic analysis. Second, Sanusi shows no interest whatsoever in economic and banking analysis, not even of risk-management, in his published records. On the other hand, according to their published public records, Africa’s other Governors of Central Banks are substantially devoted to the academic and professional analyses of the economic circumstances of their nations. It should be clear to Nigerians that President Umaru Yar’ Adua could not have chosen Lamido Sanusi as Governor of the Central Bank of Nigeria on account of his accomplishments in the understanding of Nigerian and African economic issues. Nor did the Senate that confirmed him so readily bother to ask pertinent questions with respect to his relative qualifications in the context of African economic circumstances.

Lamido Sanusi’s Temperament

Even if potential candidates were well qualified in professional and macroeconomic matters, those examining them for the enormous office of Governor of Central Bank are expected to weigh the candidates’ temperament along with how well they will relate to significant portions of the nation. Lamido Sanusi probably tells the truth, as he sees it, without fear or favour. In other words, he sees himself as a gadfly in public discourse. In doing so, he offends significant constituencies. Should he therefore expect to hold an office that is owned by the entire country?

Dr. Frederick Fasehun’s recent statement on the appointment of Lamido Sanusi reveals major flaws that would in ordinary circumstances disqualify other Nigerians from holding this high office. It is enough to cite Fasehun’s reactions to Sanusi’s derisive characterization of various sections of the country. Fasehun writes:

Sanusi has remained unapologetic and unrepentant of his ethnic chauvinism. In the past, he has said of the Igbos in a paper, “Issues in Restructuring of Corporate Nigeria,” that: “The Igbos themselves must acknowledge that they have a large part of the blame for shattering the unity of this country.”

Having said that this nation must realise that Igbos have more than paid for their foolishness, he said in the same piece: “The Yorubas: the greatest obstacles to nation-building, are the Yoruba Bourgeoisie, I say this also to underscore my point that until they change in this attitude, no conference can solve the problems of Nigeria. The country cannot move forward if the leadership of one of the largest ethnic groups continues to operate, not like statesmen, but like common area boys.”

And on Afenifere he declared: “A Syllabus of Errors …  the problems of this country have a lot to do with the shift in power away from the Fulani to individuals like Babangida and Abacha, products of lower cultures. The Fulani of the North, proud of the history of the establishment in Nigeria - Ahmadu Bello, Murtala Mohammed, Aminu Kano, Shehu Yar’Adua, Shehu Shagari, Jibril Aminu. They are sad that other Nigerians do not know the difference in ethnic background between, say, Murtala Mohammed [Fulani] and Ibrahim Babangida [Gwari].”

Sanusi has made many other fetid pronouncements about various ethnic groups other than those catalogued by Dr. Fasehun above. In a dominant group like the Fulani, one is likely to encounter talkative and boastful members of a self-proclaimed aristocracy. But one would not expect one of those loquacious boast-masters to be the Governor of the Central Bank of Nigeria.

The same reservoir of ill-temperament that supplies such an abundance of insults on other people has empowered the impulsive behavior of our new Governor in his short service as the Chief Economist of the Federation. Central Bank Governors in most other nations -- at least those who are professionally competent - would take at least six to twelve months to study the complex tasks in their new responsibilities. But, presuming that he understood all the compound economic problems in the nation’s banking system, Sanusi rushed into his new job with ready-made solutions. The result is the mess in which we now find ourselves.

•To be concluded on Monday

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23 answers

SLS is simply a religious bigot and religious bigots are threat to the society they lives in.

What the economy is experiencing now is what you get when you try to convert a natural goat herder to your chief treasurer - everything is going to be messed up.

Cecilia and Akingbola errors wil only damage the economy minimally, SLS error can shut down the country.

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Who Is Sanusi Lamido Sanusi?

He is the person behind mass sack in the banking sector/crippled economy we experienced for over a year now,

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Now this anti-Sanusi campaign is becoming annoying.

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Whine all you want. Sanusi is going nowhere.

And @naijaking, speaking of incompetence when are you going to write a piece castigating and condemning the likes of Cecilia Ibru for their recklessness and greed that nearly crippled their banks? That's only fair, isn't it?

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^^^

Welcome back Jarus.

You can do better than attacking Prof. Ekeh, and blindly taking sides in 2-way hostility between the two gentle-men.

I, for one is not here to carry water for anybody, I'm neither routing for Ekeh, nor personally attacking Sanus out of malicei. Join me and other people here on N/L in elevating this discussion above personal attacks. I was looking forward to seeing a poin-point rebuttal of Ekeh's well researched article, i haven't seen it from you.

Nobody says Sanusi shouldn't speak, comment, write on political, social, and religious issue; the point Ekeh has made is that our chief economist has no published scientific paper on the economics, none at all.-----now please defend that.

We're not interested in whether Sanusi and Ekeh has a street fight so many years ago, fought over the same plate of pepper soup, or even chased the same girl. We just want to see our CBN governor economic philosophy, is that asking for too much?

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For those who argue that SLS is not fit to be a CBN governor because he has a history of engagement in socio-political and even ethnic and religious commentaries, this is most laughable. In as much as that doesn't diminish his knowledge of banking and economics, then there is absolutely nothing wrong in engaging in those areas of debate. If anything, he should be commended for being versatile enough to know much about politics, history, philosophy, religion, culture etc despite being a top banker. I have read over 30 of SLS' writings from 1998-2005 and I'm marvelled at his depth of knowledge in virtually every field of knowledge.

Even on NL here we have people that are versed in so many aspects of knowledge, and that surely doesn't mean that they are less capable of handling taks in their primary field.

I like to use this example in my analyses elsewhere: Chief Bola Ige, with much respect, was a core pan-Yoruba man, a man who believed in the supremacy of Yoruba race and never hid it, but he was made Minister of Justice and AGF not of Yoruba nation but of multi-ethnic Nigeria, and nobody raised issues on whether the man will be able to do justice to every Nigerian, why then do we have issues with a man because he defended his tribe in the past?

There are strong points in Ekeh's submissions no doubt, but more than anything, it shows the ranting of a man that had once been matched, if not finished, by an ordinary banker in his terrain - intellectual discourse.

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Wow, I missed this thread when it was hot as I had been inactive on NL in the last couple of weeks.

I came across this Prof Ekeh's expose on Sanusi few days ago while doing some work on the internet, and not surprisingly, it has made it to NL.

I'm planning to write an equally comprehensive rejoinder to that piece.

Meanwhile, it is necessary to tell you guys here that the author of that article, Professor Peter Ekeh, no doubt an intellectual, has not been in good terms with Sanusi prior to SLS's becoming CBN boss. Both of them engaged in hot debates around 2001. It bias and past grudge cannot be ruled out from Ekeh's write-up. He should thank God that SLS, as CBN governor, will surely not respond to his tirade as he did in 2001. He should continue to have a field day.

Sanusi's article of contention, 2001: http://www.waado.org/nigerdelta/essays/BalaUsman/Sanusi.html

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What? We need more info on that guy.

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I have always said I liked how he dealt with the banks and their MD's.Some of his policies are o.k.Although he really doesn't understand the principles.I think he acts with common sense, which may not always be the right solution in the long term.Now to these publications he keeps writing,it shows he can be very unprofessional and erratic in his thinking.His sense of entitlement is amazing and obviously beclouds his judgement.Ihave changed my mind on him being in that position.He needs to be replaced.Surely someone that insults every other tribe so maliciously cannot be trusted with such a sensitive position.Surely the north has intellectuals he can be replaced with? So that this political spoilt brat prostitute can find more time to rant nd write ridiculous articles to where he will remain irrelevant for the rest of his life.He's crazy.

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good job naijaking 1. . .keep it coming

It still baffles me how this dude got this job,in a plural society like Nigeria

saying that the oil comes from or is formed the north. .so the Niger delta has no claim to it

how intellectually dis-honest is that

No wonder he is so fond of the sudan

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@Naijaking1

Pls dont forget to post the conclusion of this article

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balls like idi amin dada of uganda?. . .we dont need another moronic brainless person that blusters about all day

we need ppl that have a brain. . .or at least half a brain in Nigerias case

That is why we celebrate nonentities like buhari in Nigeria. . . .a common illiterate that doesnt respect the laws of the land

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I have already acknowledged that with the need to have advisers where he is lacking - he is a bit overzealous quite alright, but does not necessarily need a PhD etc to be a CBN gov. People without university degrees have been Presidents and Prime Ministers the world over (a bigger challenge than being a central bank gov.) and have performed well. He has had some grounding in banking and rose to become the CEO of First Bank. He was once a GM in UBA with Tony Elumelu as CEO who would have gotten rid of him if he thought he was incompetent. With the right combination of good management and communication skills coupled with 'PhD' advisers he should be alright.

'Balls' are what is lacking to a large extent in Nigeria, we have had people with a long list of qualifications in various positions in Nigeria but have lacked the 'balls' to push policies through or infact did not have any ideas at all!

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^^^

We need more than balls to run the office of CBN governor, we also need brains.

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What Sanusi needs is credible, competent and trustworthy advisers who would advise him accordingly in areas where he is lacking. He sure does have the balls needed to get things done!

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^^

Lol. . .would be more funny if it wasnt so damn serious

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^^^

I would suggest grand khadi of the sharia court and islamic banking system.

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It explains everything we've been saying about this guy! He rose to his position in the banking industry by virtue of his royal lineage.

I have always wondered why Sanusi never deemed it necessary throughout his career as a banker to develop himself further.

The guy is a misfit for the position he sits upon. He would definitely be better off as an EFCC Chairman or better still he should be considered as a Chairman off the Pilgrims Board where he can make adequate use of his Sudanese degree in Islamic studies.

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When the dust on yar'adua death cools down, we would be able to do a detailed appraisal on his short tenure.

One area I will make objections is on the rationale of his appointments.

This guy might have as well engaged the services of an ex-service man to run the CBN.

Yar'adua really undid Nigeria and set a lot of bad precedences.

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^^^^^^

Yar'dua obviously forgot that banking is a technical job, and political considerations ought not to outweigh proper academic qualifications.

The more Sanusi speaks, the more he exposes his fundamental and basic ignorance about economic, banking, and finance.

Luckily for those of us who want him fired, he can't keep quite. If he did, he might have fooled many people. So let him sing and ramble on, and on.

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sigh. . its not a pleasant thought to contemplate

I really do wish well for Nigeria and it saddens me how things are done in my country sometimes

I want my CBN Governor to be brilliant in economic thought like Ben Bernanke. .Is that too much to ask?

was that too much to ask of the incompetent senate when they confirmed him?

Lets hope some form of change will come with the new Govt in Abuja

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It's as if the position of chief of surgery becomes open, and some how a barely educated herbalist fills the post, and to compensate for his acute deficiencies, he takes routine road shows on TV and to the market places to tell people how lucky they have been to have him as their chief, and to further make his point he begins a series public campaign against the former chief, and other surgeons, most of whom are far more technically competent than himself.

I'm shocked to know that Sanusi couldn't even show that he is a fellow of basic professional organizations for bankers and economists.

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Its Pathetic. . . . How did this guy get this job in the first place?

This is the main problem with Nigeria

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