Dr Sarah Alade, will serve as Acting Governor of the Central Bank until the conclusion of on-going investigations into breaches of enabling laws, due process and mandate of the CBN.
This is following President Goodluck Jonathan’s suspension of Mr. Sanusi Lamido Sanusi from his position as the Governor of the Central Bank of Nigeria, on Thursday, in a statement signed by the Special Adviser to the President on Media and Publicity, Dr. Reuben Abati.
Dr. Sarah Omotunde Alade was the most senior Deputy Governor of the CBN and was appointed Deputy Governor (Economic Policy) Central Bank of Nigeria on March 26, 2007.
She attended the University of Ife, Ile-Ife (now Obafemi Awolowo University) where she obtained a B.Sc (Hons) degree in Economics in 1976. She also obtained an M.Comm degree at the University of Melbourne, Melbourne, Australia in 1983 and a Ph.D Management Science (Operations Research), from the University of Ilorin in 1991.
Dr. Sarah Alade commenced her working career in 1977 with the Ministry of Finance and Economic Development, Ilorin, Kwara State. In 1991, she joined the University of Ilorin as a Lecturer in the Department of Accounting and Finance. She joined the Central Bank of Nigeria in 1993 as an Assistant Director in the Research Department where she served as Head, State Government Finance Office (1993-1996), Head, Federal Government Finance Office (1996-2000) and Head, Fiscal Analysis Division (2000-2004).
Dr. Alade has served on the teams on major economic policy studies, and has been involved in the preparation of Central Bank of Nigeria’s Monetary and Credit Policy Proposals over the years. She was actively involved in the drafting of the Medium Term Economic Programme (MTP) for Nigeria and the IMF staff Monitored Programme/Standby Arrangement.
Dr. Alade was appointed Director, Banking Operations Department in May 2004. In that capacity, she served as Chairman Board of Directors, Nigeria Interbank Settlement System (NIBSS) as well as Secretary, National Payments System Committee (NPSC).
Dr. Alade was a member of the Technical committee of the Vision 2010 and currently a member of the Technical Committee of Vision 2020 and member of the National Economic Management Team (EMT).
As Deputy Governor, Economic Policy, Dr. Mrs. Alade superintends over the Economic Policy Directorate, comprising the Research, Monetary Policy, Trade and Exchange, Statistics Departments and Financial Markets Department. As Chair of the Monetary Policy Implementation Committee (MPIC), she interfaces with operational departments and coordinates technical inputs for the Monetary Policy Committee (MPC).
Dr. Alade, who is a member of the Nigerian Economic Society (NES), has several publications to her credit and is currently carrying out research into Interest Rate Policy and Monetary Policy Implementation in Nigeria. Dr. Mrs. Alade is a Fellow of the Nigerian Institute of Operational Research. She is married with children.
“The President expects that as Acting Governor of the Central Bank, Dr. Alade would focus on the core mandate of the Bank and conduct its affairs with greater professionalism, prudence and propriety to restore domestic and international confidence in the country’s apex bank.