Sanusi says successor’s main challenge is maintaining independence

The Central Bank of Nigeria’s (CBN) governor, Sanusi Lamido Sanusi, says his successor’s main challenge will be to maintain the independence of the institution and any undermining of that may hurt the economy.

Speaking in a Bloomberg TV Africa interview at the World Economic Forum in Davos, Sanusi who is due to leave his position when his contract ends in June says;  “If anyone tampered with it [Independence of the CBN) the markets would punish the economy.”

He added: “It’s extremely important from the fiscal side, it’s extremely important from the governance side, that the governor of the central bank is able to speak independently of political authority and raise an alarm and concerns and give constructive criticism and advice.”

President Goodluck Jonathan hasn’t yet said who will replace Sanusi.