Sanusi Lamido Sanusi is an award-winning banker and former governor of the Central Bank of Nigeria. He is currently the 14th Emir of Kano, a Fulani nobleman, and an Islamic scholar.
Sanusi Lamido Sanusi Background
Muhammadu Sanusi II, popularly known as Sanusi Lamido Sanusi, was born on the 31st of July, 1961, into the Fulani Torobe (Sullubawa) clan of Kano. His late father – Ambassador Aminu Sanusi, was a diplomat; the Nigerian Ambassador to Belgium, China, and Canada; and the Permanent Secretary of the Federal Ministry of Foreign Affairs.
Sanusi attended primary school at St. Anne’s Catholic Primary School, Kakuri, Kaduna, from 1967 to 1972. Afterwards, he proceeded to King’s College, Lagos, for his secondary education, and graduated in 1977.
Thereafter, he got admission into Ahmadu Bello University (ABU) Zaria to study economics, and graduated in 1981, with a BSc in economics. Sanusi Lamido obtained his master’s degree in economics from the same school in 1983.
He also obtained a degree in Islamic law at the International University of Africa, Khartoum.
Sanusi Lamido Sanusi is married to Sadiya Ado Bayero, Rakiya Sanusi, Maryam Sanusi, and he is blessed with children.
Sanusi Career
The banking guru was posted to Gongola State (now Adamawa, and Taraba States) for his one-year National Youth Service Corps (NYSC). After his service year in 1985, Icon Limited – a subsidiary of Morgan Guaranty Trust and Barings Bank employed him as a banker.
He left in 1997 and joined the United Bank for Africa (UBA). He started working with UBA as a staff in the credit and risk-management department and grew to the general manager position.
Having attained a top management position at UBA, he left the bank to become a board member at First Bank of Nigeria. He was also an executive director in charge of risk and management control in September 2005.
In January 2009, Sanusi Lamido became the Group Managing Director (CEO) of First Bank of Nigeria, making him the first Northerner to take on the role of the CEO of First Bank. At the time he was appointed CEO of First Bank, Sanusi Lamido was also Chairman of Kakawa Discount House.
President Umaru Musa Yar’Adua nominated Sanusi Lamido as the governor of the Central Bank of Nigeria, on the 1st of June 2009. The Nigerian Senate confirmed his appointment as CBN governor, on the 3rd of June 2009, during a global financial crisis. Sanusi Lamido is well-known for his contribution to a risk-management culture in the Nigerian banking industry.
As Governor Of CBN
In August 2009, Lamido Sanusi injected ₦400 billion of public funds to save Afribank, Intercontinental Bank, Union Bank, Oceanic Bank, and Finbank. He further dismissed the CEOs of the banks for mismanagement of funds and high level of non performing loans.
During his tenure as CBN governor, he carried out extensive reforms termed – Sanusi Tsunami. He carried out these reforms in a bid to overcome the vested interests attacking the Nigerian financial sector.
Sanusi Lamido’s blueprint for the reform in the banking sector is centred around four pillars, which include enhancing the quality of banks, establishing financial stability, enabling healthy financial sector evolution, and ensuring that the financial sector contributes to the real economy.
As regards Sharia authority, the banker turned traditional ruler, believes Islam should only bring justice to people and should not be used for selfish political agendas.
As Emir Of Kano
On the 8th of June 2014, Sanusi Lamido was selected to succeed his granduncle – Ado Bayero, as the Emir of Kano, and was crowned Emir Muhammadu Sanusi II on the 9th of June 2014.
As such, he became the 14th Emir of Kano, and leader of the Tijaniyya Sufi order – this is the second most important Muslim position in Nigeria, after the leader of the larger Qadiriyya Sufi order, held by the Sultan of Sokoto.
The Governor of Kano State – Abdullahi Ganduje, weakened Sanusi Lamido’s powers as the Emir of Kano state on the 8th of May 2019, by creating four new Emirates. The new Emirates were created for Gaya, Bichi, Karaye, and Rano. As such, the Emir of Kano will oversee only 10 Local Government Areas, out of the 44 LGA’s in the state.
Sanusi Lamido Sanusi’s Quotes
“If Africa can deepend its current reforms in more productive areas, improve its share of the global market, Africa will be better armed for any future financial crisis.”
“We need to stop being taught how to think be it conventional or non-conventional.”
“Nigeria is a country that specializes in exporting what it doesn’t produce, and importing what it produces.”
“The only way you can move from potential to reality is to stop preaching, and start asking how we can overcome, and prevent the fear of vested interest.”
“Intelligent people don’t steal, if they were smart, they won’t be stealing, they would find other things to do.”
Awards And Nominations Of Sanusi Lamido
- National Award of Commander of the Order of the Niger (CON)
- The Banker Magazine, London, named him Global Central Bank Governor of the Year – 2010
- Central Bank Governor of the Year for Africa by The Banker Magazine, London – 2011
- Time magazine listed him on its list of the 100 most influential people – 2011
- Africa Person of the Year by Forbes magazine – 2011
- Named as one of the 100 most influential people in the world by TIME Magazine – 2011
- Honouree at the third Global Islamic Finance Awards (GIFA) in Dubai for his advocacy in promoting Islamic banking and finance during his tenure as governor of the Central Bank of Nigeria – 2013
- Central Bank Governor of the Year Award at the African Bankers Award – 2013
- Global Leadership in Islamic Finance Award as the fifth GIFA Laureate – 2015
- Ekiti State University conferred Sanusi Lamido with the award of doctorate degrees, Honoris Causa, for his immeasurable contributions to academic, philanthropy and humanitarian gestures – 2017
- Recipient of the Young Entrepreneurs of Nigeria (YEN) Man of the Year Award – 2018
Sanusi Lamido Sanusi’s Net Worth
According to nigerianinfopedia.com.ng, Sanusi Lamido Sanusi is worth $80 million.
Entrepreneurial Lesson From Sanusi Lamido Sanusi
An entrepreneur is bold, courageous, and is a risk taker
Sanusi Lamido is a bold and courageous man. He is also a risk-taker. It’s these virtues that made him stand out amongst his counterparts. Sanusi Lamido was not afraid of those with vested interest in the Nigerian financial industry, while he was governor of CBN. Instead, he took them head-on and ensured justice took its full course.
It’s the little things you do as an entrepreneur, that stands you out of the crowd. If Sanusi Lamiso had kept quiet about the lootings, he won’t have been the unique and widely acclaimed banker that he is today.
Be bold and courageous, even if you step on toes. Don’t ever let the fear of the unknown take the best of you.
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