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Nairaland Forum / Nairaland / General / Politics / Tony Elumelu - The Next CBN Governor (35662 Views)
Breaking: Dr Oby Ezekwesili Likely next CBN Governor. To Replace Emefiele / Governor Of The Bank Of England Should Be Appointed As The Next CBN Governor. / Jonathan, Okonjo-iweala Tip Aig-imoukhuede As Next CBN Governor (2) (3) (4)
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Re: Tony Elumelu - The Next CBN Governor by PapaBrowne(m): 6:12pm On Dec 28, 2013 |
mad nigerian: Inflation, importation or higher prices can never be the reason there is no "change". A taxi driver gave me a better answer when he said that the increased use of ATM which disburses only 1000 Naira denominations is responsible. His answer gave me a rethink. I initially assumed Sanusi might be doing this purposely. But the Taxi drivers submission simmered my opinions. |
Re: Tony Elumelu - The Next CBN Governor by naijaking1: 6:12pm On Dec 28, 2013 |
OAM4J: FYI, I didn't fail, and I made a choice, and most importantly, I don't claim falsely---unlike your idol! This issue of MSc has been brewing for the past 4 years, if any university had awarded the degree to Sanusi, he would have splashed it all over the internet by now! Of course you and Jarus are the internet representatives of that evil and ignorant man parading himself an an economist. 1 Like |
Re: Tony Elumelu - The Next CBN Governor by nigazman(m): 6:15pm On Dec 28, 2013 |
Afam4eva: |
Re: Tony Elumelu - The Next CBN Governor by madnigerian: 6:17pm On Dec 28, 2013 |
PLEASE READ. BELOW - WHAT WAS WRITTEN ABOUT SANUSI Yes.....so NNPC should continue lying to the Nation about income from oil, eh? No wonder Nigeria does not progress, it is because people who ask questions about OUR money....are silly! It is clear to me why the monetary policies of Nigeria under Sanusi Lamido have not helped improve the economy since he emerged as CBN governor. His over dependence on hot money to stabilize the currency, and his straight jacket, textbook copy and paste monetary policies has had many Nigerian economists scratching their heads. One of them has asked, ” where did Yar’Adua bring the man from?” The Nigerian economy is in a mess because we are reliant on one resource....oil. Anything the CBN governor does is in response to that. Besides......who are the economist s critiquing SLS, and exactly what are their words. A good internet search would reveal the works of Les Leba....who has good critiques of SLS......otherwise...this is just an ad-homien. His arrogance and pride has made it impossible for him to learn from his subordinates in the Central Bank who are smarter and more experienced than him in monetary mechanics. Top officials of the bank say they miss the intellectual edge of past CBN governors, and deride the present as one who is only interested in publicity and speech making. And the top officials are........go on, tell us? We are in a democracy..... And which CBN governor had intellectual edge? Paul 'the disaster ' Ogumma or Joe 'Print higher denomiations ' Sani? After watching the public embarrassment of the Central Bank of Nigeria today, I can confidently posit that Sanusi has run the CBN with faulty data, and has not been thorough in the discharge of his duties. There is every reason to believe that this CBN governor is over-hyped and over-rated, and blinds his inefficiency and dullness with public presentations and pirated publications, like the few for which he has been sued for plagiarism. Yes, people who query possible corruption are always silly......in Nigeria. And then you will start complaining about bad governance..... Sanusi Lamido Sanusi does not have the academic credentials to be governor of CBN and he knows he does not qualify. No wonder he is rushing out and not demanding a second term, he can’t be that lucky. The issue of Sanusi’s record in banking and monetary economics has been debated severally. Professor Peter Ekeh of the State University of New York at Bufallo wrote about Sanusi’s record saying: Yep...the gent did not do his research.....he just simply resorted to ad-homiens, and special pleading? If Sanusi was soooo incompetent.....HOW DID HE END UP RUNNING FIRST BANK AS ITS CEO? Or do people who HAVE NEVER FINISHED THEIR MASTERS RUN BIG BANKS LIKE FIRST BANK? Again bigotry masquerading as criticism. 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. Because a bank executive is also supposed to be an academic.......yes, and I am a pink penguin. While these questions from Prof. Eke may never get the answers they deserve, it is important to not that Nigeria has put up with its worst CBN governor in history. I can only compare Sanusi to Reserve (Central) Bank governor of Zimbabwe, Gideon Gono, who after a disastrous two term run, exited this year. Lamido Sanusi is a good man, but he is not smart enough an economist to run the CBN. Yes, he is a good man.......except when he asks uncomfortable questions. 1 Like |
Re: Tony Elumelu - The Next CBN Governor by eaglechild: 6:17pm On Dec 28, 2013 |
la furia:That's the problem with you guys. I am not saying that we should forget about the missing funds, I am simply saying that Sanusi cannot be trusted with financial figures, for all we know he may have even under quoted the figures or entirely fabricated them. But his enthusiasm to come out with false figures must be questioned. We are talking about Billions of dollars here. 1 makes a lot difference. 1 Like |
Re: Tony Elumelu - The Next CBN Governor by PapaBrowne(m): 6:20pm On Dec 28, 2013 |
OAM4J:By Intellectual limitation I refer to his knowledge in the specific field which is limited to a BSC in Economics. Most of his peers have much more than that. Soludo, his predecessor is a Prof who is studied in economics and is an intellectual icon in his field. There are many others from all tribes who are who have much more intellectual capacity than Sanusi in the field of economics. If I am giving a choic between choosing Sanusi as President and choosing him as CBN governor, I will make him president ten times over making him CBN Governor., He is a brilliant man no doubt, but he has limitations intellectually in the field of economics and hence doesn't fit the job description. 3 Likes |
Re: Tony Elumelu - The Next CBN Governor by ejihand1(m): 6:22pm On Dec 28, 2013 |
Sanusi has never disappointed anyone who cares that he's a tribalist. At a stage in his office at cbn, his work became boring so he via into politics to ridicule Mr president. I believe his not through with Gej government. Until he is relieve of his position. Then all hell will be loose on Mr president. Solution : send EFFC after him with a view to lock him up at abakaliki prison at least till 2015 |
Re: Tony Elumelu - The Next CBN Governor by naijaking1: 6:24pm On Dec 28, 2013 |
adconline: Not to talk of 'donating' 10B naira of our money to his favorite projects in Sokoto, kano, and to his girl friends. For a man who came into office accusing his predecessor of dining with rogue bankers to do what he has done over the past few years is simply criminal. For hiring his girlfriend without due process, and for claiming that our stock exchange is no more than a gambling house, this roadside perfomer should have been fired a long time ago, no we're in Nigeria! 1 Like |
Re: Tony Elumelu - The Next CBN Governor by madnigerian: 6:26pm On Dec 28, 2013 |
PapaBrowne: Look at it this way. We are earning a lot of money from oil, and are using it to import a lot of goods we should be manufacturing......like Biscuits, toothpaste, and detergent....which are more expensive than the local goods....and which push up the prices. This leads to increased inflation. It costs a lot of money to print notes. If Sanusi prints more lower denomination naira notes, he may make you and me happy....but to cover for inflation , he would have to print a very high number of these notes....which would increase CBN'S printing cots( especially now that most of our notes are printed abroad.) Note that the cost of printing one N20= the cost of printing one N100= Cost of printing N1000. When that happens, CBN has a choice. Either print more lower denomination notes.....and see increased costs thanks to inflation ...or print higher denomination notes and save money and cover for inflation. Which is why I advocate that Nigeria stop relying on oil.....and start manufacturing most of the things we import. Strong economies are not oil dependent. See here....http://www.nytimes.com/2012/03/11/opinion/sunday/friedman-pass-the-books-hold-the-oil.html?_r=0 1 Like |
Re: Tony Elumelu - The Next CBN Governor by Nobody: 6:27pm On Dec 28, 2013 |
Julieccentric: Like you guys don't know Aig imokhuede of Access bank is been groomed for the position of CBN Governor. Make una dey look Is CBN his father's plot of land ? Some peple refuse learning from history... |
Re: Tony Elumelu - The Next CBN Governor by OAM4J: 6:27pm On Dec 28, 2013 |
naijaking1: I know you didn't fail, I was only joking, you saw I wrote (jk). And I got your point, I did a number of MBA coursework which I passed with distinctions too but am not an MBA graduate cos I was majoring in something else. But the main point I was on is that Sanusi shouldn't be described as "intellectually limited" Never! Msc Economics or not. Am sure you will also agree with me that intellect is not also limited to MSc and PhD Degrees and the coursework he did add up. 1 Like |
Re: Tony Elumelu - The Next CBN Governor by madnigerian: 6:29pm On Dec 28, 2013 |
PapaBrowne: Yep...but even with 'connections'.....HE STILL HAS TO BE QUALIFIED. And if what you say is true about SLS qualifications.....that means eitherUBA too was incompetent as well, or SLS was really qualified for the job at UBA.. |
Re: Tony Elumelu - The Next CBN Governor by grandstar(m): 6:29pm On Dec 28, 2013 |
The next governors job should be to bring not inflation down but inflationary pressure down. Also for interest rates to come down to single digits. it will be awesome to take a mortgage at 6%. imagine the impact in the housing sector or industries? 1 Like |
Re: Tony Elumelu - The Next CBN Governor by Wallade(m): 6:33pm On Dec 28, 2013 |
We don't need the ex bank boss, I suggest Sarah Alade. |
Re: Tony Elumelu - The Next CBN Governor by naijaking1: 6:36pm On Dec 28, 2013 |
OAM4J: I agree, intellect is not measured by the number of MSc or PHDs. However, in this modern age, those degrees predict one's exposure to certain issues. Those exposures prove important when one is comfronted by difficult and divergent issues, you'll at least know where to start looking for answers. You could have hired a chief engineer who had no idea how to use computers in 1960, but not today. |
Re: Tony Elumelu - The Next CBN Governor by OAM4J: 6:42pm On Dec 28, 2013 |
PapaBrowne: If you had put it in the bold, even though am not in total agreement with it, I would have let it pass. But you should know better that knowledge of a particular subject is not only acquired in the lecture-rooms, knowledge are also gained from work experiences and personal studies/research. I bet you have come across 1st degree holders that performed better than Masters/ PhD holders in the same field. I have. 1 Like |
Re: Tony Elumelu - The Next CBN Governor by makzeze: 6:54pm On Dec 28, 2013 |
We need hausa man this time around. |
Re: Tony Elumelu - The Next CBN Governor by curtain: 6:56pm On Dec 28, 2013 |
PapaBrowne:the islamic banking was and is still a colossal waste of nigerian resources. Most of the northern state are enjoying central bank loan to the detriment of others, apart from sanusi's numerous donations to northerners, its a big shame that the north has poisoned nigeria with its ethno-religious sentiment beyond cure. |
Re: Tony Elumelu - The Next CBN Governor by atlwireles: 6:57pm On Dec 28, 2013 |
The CBN chairman must be a proven intellectual. Elumelu does not qualify. If I had my way, I will simply return Soludo to office. No more fake bankers, please appoint someone that understands, long term policy implications. Sanusi was a mistake to this country and the industry. |
Re: Tony Elumelu - The Next CBN Governor by ceejay4real(m): 6:58pm On Dec 28, 2013 |
Pple like u ar those dat draw Nigeria backwards!! Change ur thinking! Tribal & Religious BIGOTRY will take us nowhere as a Nation! The job shd be advertised & let d best candidate get it. Shikena! Mayor_of_Lagos: |
Re: Tony Elumelu - The Next CBN Governor by Mightymanna(m): 7:00pm On Dec 28, 2013 |
dejt4u: We need a yoruba man this time aroundthats why nigeria will never move foward,beside what is yours when OBJ was the pressident?just becouse we are from thesame tribe with them we celebrate thier lootings and finally we go to bed with empty stomach |
Re: Tony Elumelu - The Next CBN Governor by FOCUUS: 7:01pm On Dec 28, 2013 |
NO! We want TUNDE LEMO |
Re: Tony Elumelu - The Next CBN Governor by adconline(m): 7:04pm On Dec 28, 2013 |
mad nigerian: Textbooks economist! Manufacturing involves a lot factors like infrastructure i.e NEPA, road, water and security. Cost of borrowing in Naija hovers around 30% with collateralized credit. U have to consider absolute and comparative advantage when going into manufacturing as well. |
Re: Tony Elumelu - The Next CBN Governor by atlwireles: 7:06pm On Dec 28, 2013 |
Give Nigeria men or women like this Alexandre Tombini From Wikipedia, the free encyclopedia Alexandre Tombini Alexandre tombini bacen.jpg President of the Central Bank of Brazil Incumbent Assumed office January 1, 2011[1] Preceded by Henrique Meirelles[2] Personal details Born December 9, 1963 (age 50) Porto Alegre, Rio Grande do Sul, Brazil[1] Alma mater University of Brasília, B.Sc. (1984) University of Illinois, Urbana-Champaign, Ph.D. (1991)[1] Alexandre Antônio Tombini (Porto Alegre, December 9, 1963) is a Brazilian economist. He is the current Governor of the Central Bank of Brazil. Contents [hide] 1 Academic life 2 Career 3 References 4 External links Tombini graduated in Economics from the University of Brasilia (1984), and has a Ph.D. in Economics from the University of Illinois, Urbana-Champaign (1991).[1] Tombini made a career in the federal public sector. He worked in the Ministry of Finance between 1991 and 1995, where he headed the technical team negotiating the Common External Tariff (CET) of Mercosur. Between 1995 and 1998, he was special advisor to the Board of Foreign Trade, Chief of Staff of the Presidency of the Republic. He is an official of the Central Bank since 1998, where he was Director of International Affairs (2006) and Director of Special Studies (2006). Between 2001 and 2005, he worked in the office of the Brazilian representation in the International Monetary Fund. He was also a Visiting Professor at the University of Brasilia (UNB).[3][4] References |
Re: Tony Elumelu - The Next CBN Governor by atlwireles: 7:08pm On Dec 28, 2013 |
Zhou Xiaochuan Zhou Xiaochuan (Chinese: 周小川; pinyin: Zhōu Xiǎochuān) (born January 29, 1948) is a Chinese economist, banker, reformist and bureaucrat. As governor of the People's Bank of China since December 2002, he has been in charge of the monetary policy of the People's Republic of China. He was reappointed to the same position in March 2013, making him the longest-serving central bank chief since the establishment of the People's Republic of China.[2] He has previous held leading posts in trade and finance organizations such as Vice-Governor of the People's Bank of China, Director of the State Administration of Foreign Exchange, Governor of China Construction Bank, and Chairman of the China Securities Regulatory Commission. Zhou is associated with Jiang Zeming and the Shanghai clique of politicians. Zhou is one of the most influential economic figures in the world and was ranked 4th by Foreign Policy in the Top 100 Global Thinkers report of December 2010.[3] In both 2011 and 2012, he was included in the 50 Most Influential ranking of Bloomberg Markets Magazine. Zhou Xiaochuan graduated from Beijing Institute of Chemical Technology (now Beijing University of Chemical Technology) in 1975 and received a PhD degree in Automation and System Engineering from Tsinghua University in 1985.[4] |
Re: Tony Elumelu - The Next CBN Governor by Nobody: 7:08pm On Dec 28, 2013 |
Mayor_of_Lagos:Another tribalist spotted. 1 Like |
Re: Tony Elumelu - The Next CBN Governor by Pain(m): 7:10pm On Dec 28, 2013 |
PapaBrowne: What is this one saying? You are just blowing hot air. |
Re: Tony Elumelu - The Next CBN Governor by ketoprofen(m): 7:14pm On Dec 28, 2013 |
dejt4u: We need a yoruba man this time around oh yes, so that CBN will go the way of john Holt, NEPA, nitel, Nigerian airways, etc 3 Likes |
Re: Tony Elumelu - The Next CBN Governor by ketoprofen(m): 7:16pm On Dec 28, 2013 |
Mayor_of_Lagos: Anyway, let me not derail the topic |
Re: Tony Elumelu - The Next CBN Governor by TeetoEsq(m): 7:23pm On Dec 28, 2013 |
alaoeri: Charles Soludo - ibonever. Its the time for an Ibibio man. 1 Like |
Re: Tony Elumelu - The Next CBN Governor by manny4life(m): 7:26pm On Dec 28, 2013 |
mad nigerian: Though you're making some sense, but in not at all, no offense. Manufacturing works hand in hand with available infrastructures in place, certain elements have to be considered in manufacturing, we cannot manufacture everything. The idea should be more of exporting what we manufacture to create FOREX. As for prices go, a general rise of price in the value of goods is welcomed just not at an unstable level, however, you have to reconsider the major factor - the value of our currency. To increase value, to make the Naira acceptable, we need to create value for our local goods and service. The question remains, if it costs N40 to print N200, and it cost the same amount to print N1,000 which is 5x the amount, assuming that piece of currency will be recirculated over and over and over again, at what price are Nigerians paying over a long period of time due to that large amount as compared to printing 5x that amount and reducing prices i.e. if general prices are directly proportional to large bills? My point is simple: either way you will incur cost, however, the impact is greater on the economy and prices at large as supposed to one way direct cost by the CBN which can be easily written off rather as operating expense. This is one reason why the cashless thing isn't really effective, but that's a topic for another day. 1 Like |
Re: Tony Elumelu - The Next CBN Governor by cristog120: 7:27pm On Dec 28, 2013 |
alaoeri: Charles Soludo - ibo this is one of those reasons we are not meant to be under one umbrella called nigeria.tribe comes first in everything we do or say even those shouting one nigeria are hypocrites who are milking nigeria dry from their comfort zone.to your tents oh isreal come 2015 1 Like |
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