Published On: Tue, Oct 17th, 2017

Ahmad’s appointment and the unending storms

FELIX OLOYEDE

Aisha Ahmad

Controversies surrounding the recent appointment of Mrs Aishah Ahmad as one of the deputy governors of Central Bank of Nigeria (CBN) by President Muhammedu Buhari to fill the vacancy created by the retirement of Mrs Sarah Alade after spending 25 years at the apex bank, is refusing to abate. A lot of dusts were raised over the coincidence of her promotion to the post of an Executive Director, Retail Banking in Diamond bank just few hours to the announcement of her appointment as deputy governor of the CBN.

 

And just last week, a civil society group, Bureau of Social Justice Equity and Transparency at a press briefing in Abuja urged President Buhari to withdraw Ahmad’s nomination, because she was unqualified to serve as deputy governor of the CBN. Mary Ogwiji, an executive director of the group alleged that her appointment was a ploy by a cabal to destroy the progress made so far by the President Muhammadu Buhari-led administration to reposition Nigeria.

Naij.com quoted her, “We are to state here that Aishah Ahmad does not meet the minimum requirement stipulated for such appointment hence her hurried promotion to the post of executive director at Diamond bank in a space of days upon the anticipation that she would be considered for further appointment as deputy governor of the central bank of Nigeria. “This sort of conspiracy against the positive economic trajectory of the nation smirks of mischief, callousness and retrogressive. This country under President Muhammadu Buhari administration cannot be left in the hands of internal saboteurs parading and masquerading as supporters of the president.”

However, Section 8 (1) of the CBN Act 2007 only states that the governor and deputy-governors of the apex “shall be persons of recognised financial experience.” And there were antecedents of deputy governor who were not executive director of banks before their appointments.  And The Cable reported that her CV reads that she was appointed executive director in May 2017.

But the President seemed unperturbed about the furor that has greeted Ahmad’s appointment as he last Thursday forward a letter the Senate requesting it to confirm her appointment as deputy government of the apex bank.

In spite of the controversies that have enveloped her appointment, Ahmad has leafy curriculum vitae. The 40 year old banker has over 20 year experience in the financial industry, working in some of the top banks in the country. The new CBN deputy governor was formerly Head, Consumer Banking at Diamond Bank before she was elevated to the position of executive director, Retail Banking of the bank. She had earlier worked with NAL Bank Plc, Stanbic IBTC Bank Plc and Zenith Bank Plc.

She is an alumnus of one of the foremost business schools in the world, Cranfield School of Management in the United Kingdom, where she earned a Master of Science (MSc) in Finance & Management. Ahmad also holds a Master of Business Administration (MBA) in finance from the University of Lagos and Bachelor of Science (B.SC) degree in Accounting University of Abuja.

The former Diamond Bank executive director, who is the current chairperson of the executive council of Women in Management, Business and Public Service (WIMBIZ), a leading women-focused not-for-profit organization in sub-Saharan Africa, is a member of the Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analysts (CAIA) Associations.

Ahmad, who is the wife of retired Brigadier-General Abdallah Ahmad, was a member of the steering committee on Cherie Blair Foundation’s, Technology for Growth project, a groundbreaking learning intervention programme for female entrepreneurs in Nigeria. She had also served as an alternate director at Friesland Campina WAMCO from 2010 to 2014.

The main challenge before the pro tem CBN deputy governor, who will also be a member of the Monetary Policy Committee of the apex bank, would be her ability to successfully step into the big shoes which her predecessor, Sarah Alade left behind. The immediate past deputy governor during her 25 years in CBN made significant impacts that Ahmad has to benchmark. However, her vast experience in the financial sector would work for her.

 

© 2017, Hallmarknews. All rights reserved. Reference and link to this site is required if you wish to reuse any article.

Reactions from Facebook

comments and opinions

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Most Shared

Recent posts

  • MPC retains interest rate at 14% for 13th consecutive times

    The Monetary Policy Committee (MPC) of the Central Bank of Nigeria on Tuesday for the retained the Monetary Policy Rate unchanged at 14 per cent for the 13th time. The CBN Governor, Mr. Godwin Emefiele, announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in […]

  • 2018 budget: FG to sell 10 state-owned companies to raise funds

    The Federal Government may put up 10 state-owned companies for sale in the fourth quarter of 2018 to raise N289 billion for the funding of the 2018 budget, Joe Anichebe, a director at the Bureau of Public Entreprises (BPE), has disclosed. Anichebe said preparations are in the final stages for the sales of the companies, […]

  • FG to sell 10 public assets in Q4 2018

    The Federal Government has concluded plans to sell 10 government-owned companies for sale to selected investors and the public in the fourth quarter to raise N289 billion toward funding the 2018 budget,Bureau of Public Entreprises (BPE) has disclosed. According to Bloomberg report, preparations are in the final stages to begin the sale of the companies […]

  • Modric defeats Ronaldo, Salah to emerge FIFA’s Footballer of the Year 2018

    Real Madrid and Croatia midfielder Luka Modric has been named the Best Men’s Player at The Best FIFA Football Awards on Monday evening, fighting off competition from fellow nominees Cristiano Ronaldo and Mohamed Salah. The award caps off an incredible year for Modric, who won his fourth Champions League title with Real Madrid in May, […]

  • Nigerian bond market witnesses low demand

    A slowdown in client demand characterizes the bond market on Monday, unlike sentiments witnessed for the most part of last week. This is on the back of expected renewed supply at the bond auction on Wednesday, where the Debt Management Office (DMO) would raise a total of N90billion from the 2023, 2025 and 2028 maturities. […]

  • Oil price climbs to four-year high as Saudi, Russia turn Trump down

    Oil prices have hit a four-year high of over $81 a barrel after Saudi Arabia and Russia rejected calls by Donald Trump to increase production. Brent crude hit its highest level since November 2014 at $81.16 a barrel, up 3 per cent on the day. Saudi Arabia led the c oil cartel, while Russia is […]

  • Buhari releases N22bn to Nigerian Airways retirees

    The Federal Government has released N22.68 billion to settle part of the retirement benefits of former workers of the defunct Nigeria Airways. The government has also approved the release of N20 billion to revitalise public universities in line with demands of the Academic Staff of Universities (ASUU). Minister of Finance, Zainab Ahmed, made the disclosure […]

  • MPC set for another policy freeze

    By FELIX OLOYEDE Despite the outcry for lower domestic interest rates, the Monetary Policy Committee (MPC) is expected to leave the Monetary Policy Rate (MPR) at 14 per cent as it responds to inflation jitters ahead of the 2019 general elections, say economists. The MPC meeting schedule to hold today, Monday 24th 2018 and Tuesday […]

  • Ambode fights for his political life

    By OBINNA EZUGWU It is no longer news; the political love affair in Lagos state is in trouble. For the first time since 1999, a sitting governor is facing a real challenge from his own party for the ticket. The indignity can only be imagined and its implications continue to reverberate across the state and […]

  • Adeosun: Betrayed by a dysfunctional system (Editorial)

    A fortnight ago, former Finance Minister Mrs. Kemi Adeosun, resigned her position following the report of an investigative panel into allegations of NYSC certificate forgery against her. The allegation had been earlier made by an online newspaper, Premium Times, and the nation was agog with speculations about it. Her resignation has been interpreted by most […]

  • High cost of Nomination Forms: A conspiracy against the youths

    From PETER OKORE, Umuahia Amidst the mixed feelings trailing the high cost of Nomination Forms for interested candidates to participate in the 2019 general elections, there is growing consensus for the electorate should go for credible candidates rather than political parties in order to achieve desired results. This is because since some political parties in the […]

  • Govt bottlenecks still inhibiting agric business– Farmfields CEO

    Mr. Zanau Hassan Maikasuwa is the CEO of Farmfields Agro-allied Services, an agro-allied consulting and supply firm located in Jalingo, Taraba State. He is an ardent agricultural expert and a strong believer of improving agricultural methods for an improved and more rewarding agricultural sector in Nigeria. In this interview with BLESSING PETER, he assessed the […]

  • China and Nigeria’s debt burden

    By AYOOLA OLAOLUWA Experts have raised the alarm over the continued foray of Chinese businesses and massive funds into Nigeria, saying it portend danger for the country. They argued that the nation risk falling into debt trap, joblessness, among other costs, as is being experienced by several Africans countries. Available data indicate that apart from the […]

  • New Banks fight for survival 

    By OKEY ONYENWEAKU A clutch of new financial institutions are beginning to slowly appear on Nigeria’s banking scene as the once fragile economy wriggles out of a recession that held sway between the middle of 2015 and the second quarter of 2017. The renewed institutional confidence in the economy (which has grown more recently at […]

  • Gov poll: Stalemate in Osun as APC, PDP live to fight another day

    The Independent National Electoral Commission on Sunday declared the Osun State governorship election inconclusive. The candidate of the Peoples Democratic Party, Ademola Adeleke, had polled 254,698 votes against that of the All Progressives Congress, Gboyega Oyetola, who polled 254,345 votes. However, due to irregularities which marred the election at some polling units in Ife North, […]

  • Ambode fights for his political life

    By OBINNA EZUGWU It is no longer news; the political love affair in Lagos state is in trouble. For the first time since 1999, a sitting governor is facing a real challenge from his own party for the ticket. The indignity can only be imagined and its implications continue to reverberate across the state and […]