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Wednesday 30 October 2013

Jostle for Nigeria's central bank top job hots up

*Top contenders: -Aig-Imoukhuede, -Atedo, -Majekodunmi, -Lemo, -Moghalu
Atedo
Moghalu

The race to replace Lamido Sanusi as the next Central Bank of Nigeria (CBN) may have started clearly seven months ahead of his voluntarily retirement from the post come June 2014, as interested individual intensified lobby for the plump job.
Sanusi
Sanusi had indicated few months ago he was not interested in coming back for another five years tenor at the expiry of his current tour of duty at the apex bank. The statement which many analysts said was a cleaver way of preempting the president from denying him a return ticket and save him any humiliation arising thereafter, has generated so much interest among the banking community and those who have long been eying his job.
Initial indication was that Peterside Atedo, from River State and a current chairman of Stanbic IBTC Bank, and the outgoing chief executive of Access Bank, Aigboje Aig-Imoukhuede are the two top contenders to the job. However, the numbers of those who are interested in the job has since swell up and with intense lobby to get the ears of the president for the job.
Majekodunmi
Latest information showed that two of the present deputy governors at the apex bank, Kingsley Moghalu and Tunde Lemo are seriously putting their papers together to convince the president of their capability to run the affairs of the bank after their boss.
Infact, Sanusi is said to be tipping one his deputies as his favorite successor, but the ultimate decision is now left for the president to either listen to him or choose his own man for the job.
Aig-Imoukhuede
Another outsider who is said to be interested in the job is former chief executive of defunct Reliance Bank, and immediate past chief of staff to a former governor of Ogun State, Dr Abayomi Majekodunmi.
Though, some analysts believed it was too early for an intense jostling for the top job, but many of the interested individuals are not willing to leave any stone unturned to sway decision on their sides.
However, it was learnt that the president seems to be more disposed toward Aig-Imoukhuede candidature because of his closeness to the power that be and his perceived loyalty to government policy. Other factors in favour of the outgoing chief executive of Access Bank include the fact that he is from the south-south region, the same region the president belong. He is also said to have the ear of the first lady, Dame Patience Jonathan.
Lemo
However, other people from the region are pushing for the candidature of Peterside, who they claimed is more pro-Jonathan than Aig-Imoukhuede. Those who are pushing for Peterside are claiming his candidature will attract less criticism because of his minimal shareholding at Stanbic IBTC, unlike Aig-Imoukhuede whose interest in Access Bank is seen as a disadvantage. 
“The president is disposed to giving the job to someone from his region as most of his aides are citing the examples of Chief Olusegun Obasanjo who gave the job to Joseph Sanusi when he has the opportunity to choose in 1999, while late president Musa Yar’dua gave it to the present occupier of the position, Lamido Sanusi from the North,” a presidency source said.
Both Lemo and Majekodunmi are banking on their qualifications as insiders in the banking industry and the fact that the job has always been rotated between north, east and west. It was Charles Soludo a south easterner that held forth before Sanusi, who is from the north took over in 2009, it was expected that this time it will be the turn of a candidate from the west to assume control of the apex bank, a source said.
Beyond the listed contenders, a last minute entrant into the race is the chief executive of Diamond Bank, Alex Otti, he is said to have a closer affinity with the first lady.
President Jonathan is said to be keeping his choice close to his chest and may spring surprise at the end of the day, depending on what he consider the opportunity cost to his reelection bids.


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