Nigeria May Pick Sanusi’s Deputy to Replace Him: Vetiva

Vetiva Capital Management Ltd. said four deputy governors of the Central Bank of Nigeria may be among the front-runners to succeed Governor Lamido Sanusi when his five-year term ends next year.

The deputies are Sarah Alade, Suleiman Barau, Tunde Lemo and Kingsley Moghalu, Vetiva, a brokerage based in Nigeria’s commercial capital, Lagos, said in an e-mailed report today. Aigboje Aig-Imoukhuede, chief executive officer of Access Bank Plc. (ACCESS), is also a contender, Adedayo Idowu, an economist at Vetiva, wrote in the report.

Sanusi, 52, said in March he won’t renew his contract when it expires in June 2014. He helped to clean up the banking industry during a debt crisis in 2009 and has left interest rates at a record high for almost two years to bolster the currency and keep inflation under control.

President Goodluck Jonathan may name Sanusi’s replacement in the first quarter, Idowu said. All those listed by Vetiva as possible successors share similar views to Sanusi on monetary policy, she said.

“We believe that the president will attempt to seek consistency and reassure markets by nominating someone who will be guided by a sensible economic framework,” Idowu said.

To contact the reporter on this story: Daniel Magnowski in Abuja at dmagnowski@bloomberg.net

To contact the editor responsible for this story: Nasreen Seria at nseria@bloomberg.net

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