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Governor of the Central Bank of Nigeria (CBN) News Release
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Nov 4, 2009, 17:18
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NEWS RELEASE

4th November, 2009

THE GOVERNOR OF THE CENTRAL BANK OF NIGERIA VISITS FREETOWN TODAY TO APPRISE THE GOVERNOR OF THE BANK OF SIERRA LEONE AND OTHER STAKEHOLDERS OF BANKING REFORMS IN NIGERIA

The Governor of the Central Bank of Nigeria (CBN), Mr. Sanusi Lamido Sanusi will visit Freetown today Wednesday 4th November, to apprise the Governor of the Bank of Sierra Leone, Mr. Sheku Sambadeen Sesay and other stakeholders of recent developments in the banking sector in Nigeria.

This visit comes in the wake of stern action taken by the Central Bank of Nigeria to ensure probity and sanity in Nigerias Banking System.

Governor Sheku Sesay and Governor Lamido Sanusi met about a month ago in the DR Congo and then in Istanbul Turkey and discussions on the on-going reforms in Nigeria were high on the agenda. Governor Lamido Sanusi is undertaking missions to countries, including Sierra Leone, where there is large presence of Banks with Headquarters in Nigeria to apprise them on developments in the Banking Sector in Nigeria and likely implications in these countries.

Governor Sanusis visit to Sierra Leone today is in line with this undertaking. Governor Lamido Sanusi will pay a courtesy call on H.E. the President, Minister of Finance and Economic Development. He will also hold discussions with the Governor of the Bank of Sierra Leone, and other key stakeholders in the financial services industry including all Managing Directors of all Commercial Banks.

Before joining CBN Governor Lamido Sanusi, was Managing Director of First Bank in Nigeria (FBN). A position he attained on the January 1st, 2009. Before then he was the Banks Executive Director in charge of Risk and Management Control. He was appointed the tenth Governor of the Central Bank of Nigeria in May 2009

In his short term as Managing Director, he championed remarkable improvements in First Banks enterprise, risk and management control systems. Before joining FBN, he was previously General Manager at United Bank for Africa Plc (UBA), where he anchored the transformation of the banks Credit Risk Management Division into an Enterprise-Risk Management sector and spearheaded UBAs Basel 2 focus by establishing the framework, policies, processes and systems necessary for compliance with the guidelines of the new capital accord.

Governor Sanusi is the son of the late Emir of Kano, Alhaji Muhammad Sanusi who ruled from 1954 to 1963. He holds a degree in economics from the Ahmadu Bello University (ABU), Zaria and an M.Sc in economics from the same university. He also has another degree in Sharia and Islamic Studies from the University of Khartoum, Sudan.


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