Temper Not With CBN Autonomy. Sanusi Tells Politicians

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  • Friday, 28 September 2012
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  • Nosagie Nosa-Ero
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  • The CBN Governor, Sanusi Lamido Sanusi has issued a message to the National Assembly warning the lawmakers not to temper with CBN autonomy.

    The Governor who was represented by  Alhaji Suleiman Barau, the CBN Deputy Governor, Corporate Services, Alhaji Suleiman Barau. spoke at a public lecture insisting that if politicians are allowed to play with runnings of the apex bank, it would ultimately fail in carrying our it's regulatory functions.

    “Politicians and even the executive think short term. The CBN thinks long term. If you allow politicians to control the CBN, we will not achieve anything. Politicians will never allow us to manage inflation, interest rate simply because they want to win election.”

    Senator Nkech reacted to the issue of CBN autonomy: “I don’t think the Senate has ever said the independence of the CBN should be curtailed. We never said so. The intervention of the CBN in distressed banks and the like is within its purview,

    The lecture was titled “Nigeria in the Year 2012: The Vision of a Cashless Economy,” and was presented by Frank Nweke (Jr).

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