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• Sanusi Photo: Sun News Publishing |
The award was presented to the governor in Washington DC., United States (US) of America, venue of the 2011 World Bank/International Monetary Fund (IMF) Annual General Meetings by the Emerging Markets.
Sanusi won the awards for “the vigour with which Nigeria’s Central Bank has tackled the crisis in the banking industry, which is a testament to the determination of its governor.”
Announcing the award Saturday night, the Emerging Markets said “it is somewhat ironic that Sanusi Lamido Sanusi’s radical and hard line reforms of Nigeria’s banking system have earned him the approval of even Western regulators and politicians, many of whom have fallen short in their own efforts to rein-in their coutry’s financial excesses.”
Beyond banking reforms, Emerging Markets said that thr Nigerian Central bank Governor has continued to act “boldly and decisively on the policy front over the past 12 months, meriting his status as Emerging Markets Central Bank Governor of the Year for the second consecutive year.
According to the organisation, Sanusi’s steady tightening of interest rates by 100 basis points to ease pressure on the naira and tame inflation at 9 per cent, despite calls from banks and businesses to keep rates down was heart warming. “His outspoken criticisms of Nigeria’s runaway recurrent expenditure and fiscal largesse, as well as his call for better use of oil revenue, have drawn respect for Sanusi from the international community,” said the institution.
Senegal’s Finance Minister, Abdoulaye Diop won the Finance Minister of the Year award for sub-Saharan Africa for opening up his country to the international capital markets following years of hard-fought fiscal reforms.
SOURCE: Daily Sun Newspaper, 26 September 2011. http://www.sunnewsonline.com
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