For Nigeria, like most developing countries, policy has often times focused on the flexible exchange rate regime and financial integration, emphasizi… - Sarah Alade

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For Nigeria, like most developing countries, policy has often times focused on the flexible exchange rate regime and financial integration, emphasizing monetary policy independence. However, as globalization, capital flows constraints and other adverse phenomena set in, it has become imperative to seek a convergence.

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About Sarah Alade

Sarah Omotunde Alade is a Nigerian economist. She was acting governor of the Central Bank of Nigeria during the suspension of Sanusi Lamido Sanusi. She was appointed to the post by president Goodluck Jonathan on 20 February 2014. She held this position until the appointment of Godwin Emefiele in June 2014.

Also Known As

Alternative Names: Sarah Omotunde Alade
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Additional quotes by Sarah Alade

Throughout my period at the bank, I have one slight regret and that’s during the period I was acting governor. It was the time that the CBN was being investigated. It has never happened before that the activity of the CBN is under investigation.

The independence of the Central Bank is necessary. The Bank needs the freedom and space to take a long view of what is best for the economy and take decisions accordingly. Central Banks have consistently moved towards policy independence to pursue policies free from political interference. Although no central bank can be entirely independent of government’s influence, it must be free to choose the instruments it needs to achieve its mandate. The Bank must also be free from fiscal dominance; that is a situation where fiscal considerations unduly dictate monetary policy.

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