CBN and My Job - Sanusi Lamido Sanusi.
**I am improving the efficiency of the banking system and currency operations.
**Is it popular? I don't know and frankly don't care.
**I have a job to do and will do it.
**If I am the target of criticism by Nigerians, they are wasting their time
This is the latest response from the Central bank of Nigeria (CBN) governor, Malam Sanusi Lamido Sanusi on his intended introduction of N5,000 notes and why he will not back down on the policy, irrespective of its unpopularity and rejection by Nigerians.
"My job is to do my best in whatever circumstance I find myself. I did not choose this time to be CBN governor. If we have fiscal leakages and reserves are crashing and naira weakening I have to tighten naira supply. Interest rates go up everyone attacks SLS. But you can have low rates with high inflation, a weak naira and no reserve buffers. You can't eat your cake and have it. I am improving the efficiency of the banking system and currency operations. Is it popular? I don't know and frankly don't care. I have a job to do and will do it.
The problem is that the CBN is the only institution doing anything. Roads are not being built. We have no new airports. No progess on new power plants. No rail lines. So every time we do something all hell breaks loose.
Governance is not about seeking popularity. The only thing that will stop this is a solid argument proving that the costs outweigh the benefits. But when people start fabricating falsehood such as those claiming a bill of N40b for new notes they obviously are not interested in the nation or policy but have other targets.
If I am the target I wish them luck. But they are wasting their time". - Sanusi Lamido Sanusi.
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