CBN: Bloomberg tips 3 northerners to replace Emefiele

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International business media outfit, Bloomberg has tipped three people to take over from the current governor of the Central bank of Nigeria(CBN), Godwin Emefiele if he is not reappointed when his tenure ends in June.

Besides Emefiele, there are three other people that could be CBN governor after June 2019, according to Bloomberg, and they are all from the Northern part of the country.

Aishah Ahmad

Ahmad was appointed by Buhari as deputy governor in March 2018 and oversees financial-systems stability. Her banking experience, at the former Diamond Bank Plc, Zenith Bank Plc and Stanbic IBTC Bank Plc, may be welcomed by business. At the January Monetary Policy Committee meeting she called for increased lending to small- and medium-sized enterprises.

At the March MPC meeting, Ahmad voted for a 100-basis-point rate cut to help dramatically improve “weak output growth,” the most dovish of the 11 panel members, ushering in the bank’s first rate cut in over three years.

If picked for the post, Ahmad would be the first permanent female governor.

Ahmed Kuru

Kuru heads the Asset Management Corporation of Nigeria(AMCON) which was set up to buy bad debt following a banking crisis in 2009. AMCON’s books expanded rapidly during Kuru’s tenure as non-performing loans spiked after the economy contracted in 2016. If appointed, Kuru could boost the central bank’s focus on banking reforms and strengthening the financial sector.

Mansur Muhtar

Muhtar is a former Nigerian finance minister and was director-general of the Debt Management Office from 2003 until 2007. Currently a vice president at the Saudi Arabia-based Islamic Development Bank, he’s also served as executive director on the board of the World Bank, as co-chairman of the United Nations Inter-Governmental Committee of Experts on Sustainable Development Finance, and executive director at the African Development Bank.

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