Sarah Alade

Last updated

Sarah Alade
OON
Governor of the Central Bank of Nigeria
Acting
In office
20 February 2014 –3 June 2014
Profession Economist

Sarah Omotunde Alade OON is a Nigerian economist. She was acting governor of the Central Bank of Nigeria during the suspension of Sanusi Lamido Sanusi. [1] She was appointed to the post by president Goodluck Jonathan on 20th of February 2014. [2] She held this position until the appointment of Godwin Emefiele in June 2014. [3] She served as deputy governor (Economic Policy), Central Bank of Nigeria from 26 March 2007 to 22 March 2017.

Contents

Education

Alade attended the University of Ife, Ile-Ife where she obtained a B.Sc (Hons) degree in Economics in 1976. [4] She also obtained an M.Comm degree at the University of Melbourne, [5] Australia in 1983 and a PhD Management Science (Operations Research), from the University of Ilorin in 1991. [6]

Career

Alade commenced her working career in 1977 with the Ministry of Finance and Economic Development, Ilorin, Kwara State. In 1991, she joined the University of Ilorin as a lecturer in the Department of Accounting and Finance. She joined the Central Bank of Nigeria in 1993 as an assistant director in the Research Department, where she served as head of the State Government Finance Office (1993–96), head of the Federal Government Finance Office (1996–2000) and head of the Fiscal Analysis Division (2000–04). [7] [8]

Alade has served on the teams on major economic policy studies land has been involved in the preparation of Central Bank of Nigeria's monetary and credit policy proposals over the years. She was actively involved in the drafting of the Medium Term Economic Programme (MTP) for Nigeria and the IMF staff Monitored Programme/Standby Arrangement.

Alade was present as deputy governor when it was announced that five Nigerian bank CEOs were being dismissed on 13th of August 2009. Five replacements were named by the Central Bank of Nigeria with immediate effect including Olufunke Iyabo Osibodu to lead the Union Bank of Nigeria and Suzanne Iroche who took over as CEO of FinBank. [9]

Alade was appointed director of the Banking Operations Department in May 2004. In that capacity, she served as chairman of the board of directors of the Nigeria Interbank Settlement System (NIBSS) as well as secretary of the National Payments System Committee (NPSC). [10] [11]

Alade was a member of the technical committee of the Vision 2010 and currently a member of the technical committee of Vision 2020 and member of the National Economic Management Team (EMT). [12]

As deputy governor of Economic Policy, Alade superintends over the Economic Policy Directorate, comprising the Research, Monetary Policy, Trade and Exchange, Statistics Departments and Financial Markets Department. As chair of the Monetary Policy Implementation Committee (MPIC), she interfaces with operational departments and coordinates technical inputs for the Monetary Policy Committee (MPC). Alade, who is a member of the Nigerian Economic Society (NES), has several publications to her credit and is currently carrying out research into interest rate policy and monetary policy implementation in Nigeria. Alade is a fellow of the Nigerian Institute of Operational Research. [13]

Alade served as acting governor from February 2014 until Godwin Emefiele took over in June 2014. [3] She retired from the Central Bank of Nigeria as deputy governor after 24 years of service on 22 March 2017. [11] [14] In November 2019, President Muhammadu Buhari appointed Alade as his Special Adviser on Finance and Economy. [15] [16]

Related Research Articles

<span class="mw-page-title-main">Nigerian naira</span> Currency of Nigeria

The naira is the currency of Nigeria. One naira is divided into 100 kobo.

<span class="mw-page-title-main">Bola Tinubu</span> President of Nigeria since 2023

Asiwaju Bola Ahmed Adekunle Tinubu is a Nigerian politician who has served as the 16th president of Nigeria since 2023. He was previously the governor of Lagos State from 1999 to 2007, and senator for Lagos West in the Third Republic.

<span class="mw-page-title-main">Central Bank of Nigeria</span> State-owned bank in Nigeria

The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country; promote monetary stability and a sound financial environment, and act as a banker of last resort and financial adviser to the federal government. The central bank's role as lender of last resort and adviser to the federal government has sometimes pushed it into murky political controversies. After the end of colonial rule, the desire of the government to become proactive in the development of the economy became visible, especially after the end of the Nigerian civil war, the bank followed the government's desire and took a determined effort to supplement any show shortfalls, credit allocations to the real sector. The bank became involved in lending directly to consumers, contravening its original intention to work through commercial banks in activities involving consumer lending.

<span class="mw-page-title-main">Kingsley Moghalu</span> Nigerian political economist (born 1963)

Kingsley Chiedu Moghalu OON is a Nigerian political economist and the President of the African School of Governance (ASG), a pan-African graduate school focused on public policy and governance based in Kigali, Rwanda. He served as Deputy Governor of the Central Bank of Nigeria, appointed by President Umaru Musa Yar'Adua, from 2009 to 2014. He subsequently taught at Tufts University as Professor of Practice in International Business and Public Policy at The Fletcher School of Law and Diplomacy from 2015 to 2017. He was the presidential candidate of the Young Progressive Party (YPP) in the country's general election in February 2019.

<span class="mw-page-title-main">Joseph Oladele Sanusi</span> Nigerian accountant (born 1938)

Chief (Dr.) Joseph Oladele Sanusi is a Nigerian chartered accountant who was Governor of the Central Bank of Nigeria from May 1999 to May 2004.

<span class="mw-page-title-main">Polaris Bank Limited</span> Nigerian commercial Bank

Polaris Bank Limited is a commercial bank based in Nigeria. It is licensed by the Central Bank of Nigeria, the country's banking regulator. In October 2022, the bank was acquired by Strategic Capital Investment Limited.

<span class="mw-page-title-main">Godwin Emefiele</span> Nigerian politician and economist (born 1965)

Godwin Ifeanyi Emefiele is a Nigerian politician, economist and banker who served as governor of the Central Bank of Nigeria from 4 June 2014 until his suspension by President Bola Tinubu, on 9 June 2023.

The banking industry in Nigeria started during the colonial era with the establishment of Colonial Banks, with the primary aim of meeting the commercial needs of the Colonial Government. The banking system in Nigeria is regulated through the Central Bank of Nigeria. This apex bank started operation on July 1, 1959.

Suzanne Olufunke Iroche or Suzanne Olufunke Soboyejo-Iroche is a Nigerian banker who leads FinBank.

<span class="mw-page-title-main">Usman Umar Kibiya</span> Nigerian politician

Usman Umar Kibiyamni ; born 12 June 1949) is the Sarkin Kibiya of Kibiya Local Government Area of Kano State. He was turbaned on 26 May 2007 following the death of Late Sarkin Kibiya Alh Ado Abdullahi Kibiya.

<span class="mw-page-title-main">Aishah Ahmad</span> Nigerian accountant (born 1976)

Aishah Ndanusa Ahmad is a Nigerian accountant and finance professional. She is a former deputy governor of the Central Bank of Nigeria having been appointed on 6 October 2017, replacing Sarah Alade, who retired in March 2017. She was confirmed by the Nigerian Senate on 22 March 2018. On 6 December 2022, Ahmad was reappointed deputy governor for a second five-year term and subsequently confirmed by the Senate on 14 December 2022. However, on 15 September 2023, she was removed from office by President Bola Tinubu alongside three other deputy governors for alleged corporate governance failures at the Central Bank of Nigeria.

Edward Lametek Adamu is a Nigerian quantity surveyor, business consultant, and leadership strategist who served as the Deputy Governor of the Central Bank of Nigeria. He was nominated for the position by president Muhammadu Buhari on 1 February 2018, to replace Suleiman Barau, who retired in December 2017. He was unanimously confirmed by the Nigerian Senate on 22 March 2018.

Muhammed Kazaure Gudaji is a member of the Nigerian House of Representatives representing the Kazaure, Roni, Gwiwa, Yankwashi Constituency of Jigawa State.

Muhammad Sani Abdullahi popularly known as Dattijo is a Deputy Governor of Economic Policy at the Central Bank of Nigeria. President Bola Ahmed Tinubu appointed Muhammad as Deputy Governor on 15 September 2023. Dattijo served as a policy adviser at the Executive Office of United Nations Secretary General Ban Ki Moon in New York. Dattijo formed the core team that developed the Sustainable Development Goals (SDGs). Dattijo resigned from this appointment to serve the Nigerian government as the Commissioner for Budget and Planning in Kaduna State. He published a book titled "Disruption Rethinking Governance to work for the Poor." On 2 July 2023.

The Nigerian two hundred-naira bill (₦200) is a denomination of Nigerian currency. The first Nigerian note with this value was issued in November 2000.

Folashodun Adebisi Shonubi is a Nigerian economist who served as the acting governor of the Central Bank of Nigeria from 9 June to 15 September 2023. He was the deputy governor under the former CBN governor Godwin Emefiele until his suspension. He resigned from the central bank in September 2023.

Philip Chukwuemeka Ikeazor is a Nigerian banker who has served as the Deputy Governor for Financial System Stability at the Central Bank of Nigeria.

Bala Mohammed Bello is a Nigerian banker who serves as the Deputy Governor of Corporate Services at the Central Bank of Nigeria. He was appointed by President Bola Tinubu in September 2023. He is a member of the bank's Monetary Policy Committee.

Kingsley Obiora is a Nigerian banker who served as the Deputy Governor of Economic Policy at the Central Bank of Nigeria from 2020 to 2023. He was the deputy governor under the former governor Godwin Emefiele until his suspension.

Okwu Joseph Nnanna is a Nigerian economist and central banker with extensive professional experience. He has served in several key positions at the Central Bank of Nigeria (CBN), including Deputy Governor of Economic Policy and Deputy Governor of Financial System Stability. As Deputy Governor of Economic Policy, Nnanna was responsible for developing and implementing monetary and economic policies to maintain stable prices and support sustainable economic growth in Nigeria. He also addressed significant challenges, such as Nigeria's housing shortage, by emphasizing the role of housing finance and mortgage systems in the country's economic development. Nnanna's contributions to Nigeria's financial system extend beyond his roles at the CBN. He has been affiliated with various financial institutions and has participated in numerous seminars and discussions focused on improving Nigeria's economic and financial environment. Throughout his career, Nnanna has been recognized for his commitment to enhancing Nigeria's financial stability and economic policy framework. His work continues to influence the country's economic strategies and policy decisions.

References

  1. ↑ "Dr. Sarah Alade (OON)". Central Bank of Nigeria. Retrieved 13 April 2014.
  2. ↑ "Nigeria central bank chief suspended for financial 'recklessness'". AFP. 20 February 2014. Retrieved 20 February 2014.[ dead link ]
  3. 1 2 Godwin Emefiele new CBN governor, VangouardNGR, Retrieved 23 February 2016
  4. ↑ Tijani, Mayowa (30 March 2017). "PROFILE: Alade, the lecturer who had just 'one slight regret' in her 24-year CBN career". TheCable. Retrieved 3 June 2023.
  5. ↑ "Sarah Alade OON - Central Bank of Nigeria | Agra Innovate West Africa Speaker". lifesciences.knect365.com. Archived from the original on 15 October 2018. Retrieved 15 October 2018.
  6. ↑ "Board of the CBN Dr. Sarah Alade(OON)". Cenbank.org. 26 March 2007. Retrieved 23 February 2016.
  7. ↑ "Sarah Alade OON - Central Bank of Nigeria | Agra Innovate West Africa Speaker". lifesciences.knect365.com. Archived from the original on 15 October 2018. Retrieved 21 October 2018.
  8. ↑ "PROFILE: Alade, the lecturer who had just 'one slight regret' in her 24-year CBN career". TheCable. 30 March 2017. Retrieved 8 April 2023.
  9. ↑ CBN sacks 5 Banks Directors, Gabriel Omoh and Babajide Komolafe, 14 August 2009, VanguardNGR, Retrieved 23 February 2016
  10. ↑ "EFInA Appoints Ex CBN Deputy Governor, Others As Directors - THISDAYLIVE". THISDAYLIVE. 21 May 2018. Retrieved 21 October 2018.
  11. 1 2 "Six things you should know about Sarah Alade". Punch Newspapers. 5 November 2019. Retrieved 8 April 2023.
  12. ↑ "Sarah Alade retires as Deputy Governor from CBN - The Nation Nigeria". The Nation Nigeria. 22 March 2017. Retrieved 21 October 2018.
  13. ↑ "As Sarah Alade Bows Out - THISDAYLIVE". THISDAYLIVE. 6 April 2017. Retrieved 16 November 2018.
  14. ↑ Ramalan, Ibrahim (5 November 2019). "Buhari appoints Sarah Alade as special adviser on finance, economy". Daily Nigerian. Retrieved 8 April 2023.
  15. ↑ "Buhari names Sarah Alade aide on finance, economy". The Guardian Nigeria News - Nigeria and World News. 6 November 2019. Retrieved 8 April 2023.
  16. ↑ Lamai, Samuel (5 November 2019). "President Buhari Appoints Sarah Alade Special Adviser On Finance And Economy". Federal Ministry of Information and Culture. Retrieved 8 April 2023.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.