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Nairaland Forum / Nairaland / General / Politics / Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele (539 Views)
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Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by Bodexman(m): 9:28am On Aug 10, 2022 |
These are the three men that has been saddled with the responsibility to oversee and control the banking industry since 2004. Central bank governors set the monetary and regulatory policy, determine interest rates, maintain price stability, control the national money supply and issuance and foreign exchange currency rates and gold reserves. Soludo Was in office from 2004 – 2009. He was able to carry out various banking reforms. Soludo's reforms focused on strengthening the financial systems through banking sector consolidation, foreign exchange market stabilization, interest rates restructuring and the pursuit of stabilization as against structural adjustment policies for monetary and inflationary controls. In January 2008, in a speech to the Nigerian Economic Society, he predicted consolidation in the private banking industry, saying "By the end of 2008, there will be fewer banks than there are today. The restructuring of the banking industry has been attracting funds from local and foreign investors, which have increased banks' ability to lend to customers. Sanusi He was the Governor between 2009 - 2014. He carried out various reforms when he took over from Soludo. Sanusi knew the rot in the system, and he moved in with a bang destroying the quietude that enveloped the banking sector. He was able to act very quickly to sort out the good banks from the bad banks and get the banks back to health. That is a huge legacy as speculated by some financial analysts. His supporters maintain that his stringent approach has seen a return of profitability to a banking sector that was heavily subsidised with high-interest government bonds. The central bank also increased banks’ cash reserve requirements from 8% to 12% in July 2012. Sanusi has bagged a string of banking awards (three time central bank Governor of the year award) and was included in Time magazine’s list of 100 most influential people in 2011. He was however suspended after the $20B oil scandal. Emefiele Emefiele assumed the mantle of leadership of the Central Bank of Nigeria in June 2014, and was almost immediately confronted by high inflation, falling oil revenue, value-eroding local currency as speculators and round-trippers held sway. Embarrassingly, the economy became ‘dollarised. The CBN, under Emefiele’s leadership, came up with new strategies to navigate the Nigerian economy through hurdles such as the challenge of foreign exchange inflow, the exchange rate, the economic recession, stagflation, financial inclusion and the gap in the value chains of majority of crops in Nigeria. It is said to him whom much is given, much is expected, the Emefiele-led CBN would have to redouble its efforts in the area of price stability as well as do more to boost forex flows in order to guarantee exchange rate stability and boost the external reserves which has unfortunately depleted drastically. With these three men at the helm of affairs as CBN Gov, who do you think did better. NO INSULTS/CURSES PLS |
Re: Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by ursullalinda(f): 9:28am On Aug 10, 2022 |
Comparing Soludo and Sanusi with Emefiele is an insult on the two bright chaps.......Emefiele is a compound failure like his master and posterity will not be fair to him.....let's be OBIDIENT and YUSFUL and reclaim our country from these confused lots 5 Likes |
Re: Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by God1000(m): 9:29am On Aug 10, 2022 |
1 Sanusi 2. Soludo 3 Emefiele 2 Likes |
Re: Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by Creamypie(m): 9:32am On Aug 10, 2022 |
Sanusi was the best. No bank charges for withdrawal by ATM, even inter bank transactions. 1 Like |
Re: Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by Anyiamaka: 9:36am On Aug 10, 2022 |
Soludo is the best ever. The consolidation of our banks was the new dawn in our banking history. Sanusi tried to reverse the gains Soludo made but Nigerians are in great awe how and idiot succeeded them and messed up our economy and yet was rewarded with 2nd tenure for doing a terrible job 4 Likes |
Re: Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by GamalNasser: 9:38am On Aug 10, 2022 |
Sanusi ..But I think the determinant is actually the quality of president the CBN governor works with ..Any CBN governor will fail under Buhari 1 Like |
Re: Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by Bodexman(m): 11:05am On Aug 10, 2022 |
GamalNasser: Are you saying the CBN does not have autonomy? The President including the pasts since 1999 hardly interfere in the affairs of the bank. Obj gave Soludo autonomous power to operate, same with Jonathan and Buhari. 1 Like |
Re: Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by kokoA(m): 11:06am On Aug 10, 2022 |
You come spoil am naw.. Wetin Emefiele dey do dia? 1 Like |
Re: Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by Racoon(m): 11:08am On Aug 10, 2022 |
Soludo! The capital consolidations in banks and weeding out of nonviable banks was a plus for the financial market during his era. |
Re: Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by GamalNasser: 11:17am On Aug 10, 2022 |
Bodexman: Ofcourse they didn't under OBJ and Buhari..only GEJ respected that autonomy |
Re: Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by Obidient4life3: 11:18am On Aug 10, 2022 |
Soludo Sanusi Emefiele Is not central bank governor. |
Re: Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by GoooodHardDick: 11:20am On Aug 10, 2022 |
Soludo of course Comparing Emefiele And soludo in the same sentence is an insult to soludo. Emefiele is a bloody failure just like APC government |
Re: Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by kingi777: 11:26am On Aug 10, 2022 |
Soludo remains the best as he made Nigerians to have confidence in banking. Before he came on board, you could wake up one day and heard that your bank had gone bankrupt. Many lost their monies; some died of High BP. The present CBN governor is the errand boy of the first lady and cabals at Aso Rock. The effrontery to contest the presidency and telling Nigerians he is having fun tells much about him. 1 Like |
Re: Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by Nobody: 11:32am On Aug 10, 2022 |
God1000: Nigerians have a ideological way of thinking always saying that the previous govt was fairer than d present when d present isn't performing well enough, Is like saying Abacha was a saint compared to buhari, or we preferred Jonathan govt to buhari which most times are wrong |
Re: Who Performed Better As CBN Gov Between Soludo, Sanusi And Emefiele by Bobloco: 12:10pm On Aug 10, 2022 |
The word 'performed better' shouldn't have anything to do with Emefiele. Emefiele is a disaster |
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