Sunday, Nov. 3, 2013

Access Bank CEO Aig-Imoukhuede, AMCON Boss Jostle for CBN Governorship

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October 29, 2013

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Written by Ben-Bright Mkpuma, Abuja

As Mallam Sanusi Lamido Sanusi, incumbent governor of the Central Bank of Nigeria prepares to exit from his position, nine months from now, there are strong indications that Mr. Aiigboje Aig-Imokhuede, the managing Director/chief executive officer of the Access Bank plc and the managing Director No of the Asset management corporation of Nigeria (AMCON) may vie for the position for fewer top position of the apex bank.

Mr. Aigboje I. Aig-Imoukhuede, FCIB, CON has been Group Managing Director and Chief Executive Officer at Access Bank Plc (formerly, Access Bank Nigeria) since 2002. Mr. Aig-Imoukhuede has enjoyed a distinguished banking career of over 2 decades, over 10 of which were spent at GTB (Guaranty Trust Bank PLC) where he resigned in March 2002. He has been the Chairman of Board of Directors at Associated Discount House Limited since December 1, 2011.

Mr. Mustafa Chike-Obi serves as Chief Executive Officer and Managing Director of AMCON, Inc. Mr. Chike-Obi founded Madison Park Advisors, a financial service advisory and consulting firm in New Jersey, U.S.A, specializing in hedge fund and private equity investment advice and served as its managing partner. He also held senior positions in various Wall Street firms including Goldman Sachs, Bear Stearns and Guggenheim Partners among others. He graduated from University of Lagos with a First class degree in Mathematics and an MBA from Stanford University Graduate School of Business

Other top bankers that have indicated interest in Mallam Sanusi’s seat are First Bank of Nigeria Limited (FBN), Mr. Bisi Onasanya.
Also in the contention are insiders who share similar views with Sanusi on monetary policies and are expected to ensure continuity, including three Deputy Governors, Dr. Kingsley Moghalu, Mr. Tunde Lemo and Dr. Sarah Alade.
Sanusi Lamido Sanusi has been the 10th governor. It started from Roy Pentelow Fenton (1958 – 1963); Alhaji Aliyu Mai-Bornu (1963 – 1967); Dr. Clement Nyong Isong (1972 – 1975); Mallam Adamu Ciroma (1975 – 1977); Mr. Ola O. Vincent (1977 – 1982); Alhaji Abdulkadir Ahmed (1982 – 1993); Dr. Paul A. Ogwuma (1993 – 1999); Chief (Dr.) Joseph O. Sanusi (1999- 2004); Prof. Chukwuma C. Soludo (2004 – 2009); and Mallam Sanusi Lamido Sanusi (2009 to date).
As specified in the CBN Act 2007, the central bank governor is in charge of the official bank of the Federal Government of Nigeria and provides economic advice to the federal government.
Apart from appending his signature to every denomination of Nigeria’s currency, the governor among other duties, oversees the country’s banking sector. Alongside the Monetary Policy Committee of the CBN, the governor also determines the monetary policies of the country, which have an impact on the financial system and the macroeconomy.

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