Kukutente23:
What exactly does that have to do with anything?
The research is too narrow
He should broaden it to other countries with similar economic profile like Nigeria to get something tangible

For an economy that is crude oil dependent, crude oil earnings placed side by side will have gone a long way to strengthen the point being sold to us.
What was supply and demand for forex like then too?
I remember Soludo capitalization of local banks with $6Bn, where is the 6Bn to do same today? I remember sanusi building billion naira projects in schools (ABU and more). Where is the fund to do those today?

Kukutente23:

Sanusi was also from a commercial bank

he is an economist.

oche2020:


The researcher is talking about Nigeria alone.

was there global recession under those economists?

Soludo was a gem! Posterity will forever remember him for the positive reforms he introduced to sanitize the banking sector.

bigtt76:
Inflation would be lower for those periods because government defended the Naira against the USD and it was easier and cheaper to access the dollar then. Don't forget that 90% of goods in our markets were imported. If you import cheaply, definitely you sell cheaply and the people can afford it. From the period it started dawning on government that it could not afford to defend it coincided with Emefiele’s time and way into Buhari's regime. I don't think it matters whether an economist or not is the governor... CBN governors don't have executive powers over monetary policies BTW.

God bless you for this.

DrGoodman:
Until mad people started voting for people with nepa bills as their certificates

You all will suffer it, the Peter Obi you hate is not even suffering with you. He's somewhere counting his money, smiling with happiness at how useless a people can be.

Next president after 8 years will be Atiku, he has to take his own turn na, he has suffered just like Tinubu and buharri, he will be compensated, while the sufferheads support them on empty stomachs

If Una like, blame global warming on our not voting the fraud Obi, he will never be Nigeria's president.
Not everyone is as blind as you are

SmartyPants:
You've not said anything. State your case with evidence.

^^^
OK. I'll start with your last sentence in your post I referenced initially.

SmartyPants:
Directing monetary policy is secondary, and in fact, it is not even complex.

^^^
The very first 'object' of the CBN is 'ensuring monetary and price stability'. That's enough proof that monetary policy is not a secondary function/objective and it is certainly not simple. It is a complex, delicate balancing act that takes into account several different (sometimes contradictory) variables. Definitely not a task for someone who doesn't know what he's doing.

SmartyPants:
I think a lot of people so easily forget that the first job of the CBN is to regulate the banks.

^^^
No it is not.

Banking supervision is just one of the CBN's duties. An important one no doubt - but regulation of deposit money banks is not even explicitly listed as one of the principal objects of the CBN. The principal objects listed are issuing legal tender, maintaining eternal reserves, acting as the FG's banker etc. There is even a strong argument that the CBN needs to play a much bigger development finance role than it is currently playing.

SmartyPants:


Are you sure you know the meaning the terms you're using? What does developmental economics have to do with CBN?

Everything

Fujiyama:


^^^
This is inaccurate.

CBN is the bank of banks. The central one. He is right. CBN is monetary management and banking centred.
The love of money(micro economics) has made people assume whoever control money controls the economy. That's wrong. Supply of money can affect inflation but increase in production can equally effect or negate inflation so economic and currency strength goes well beyond CBN.

Fujiyama:


^^^
OK. I'll start with your last sentence in your post I referenced initially.



^^^
The very first 'object' of the CBN is 'ensuring monetary and price stability'. That's enough proof that monetary policy is not a secondary function/objective and it is certainly not simple. It is a complex, delicate balancing act that takes into account several different (sometimes contradictory) variables. Definitely not a task for someone who doesn't know what he's doing.



^^^
No it is not.

Banking supervision is just one of the CBN's duties. An important one no doubt - but regulation of deposit money banks is not even explicitly listed as one of the principal objects of the CBN. The principal objects listed are issuing legal tender, maintaining eternal reserves, acting as the FG's banker etc. There is even a strong argument that the CBN needs to play a much bigger development finance role than it is currently playing.

Thanks but while you may well be right, all of this is just your opinion - and being an opinion, is not capable of making my opinion wrong. So please come with superior authorities.

Even the opinions of respected subject-matter experts will be accepted as corroboration.

004gist:

you are wrong.
do you go for a doctor that specialises in heart for liver disease?

And who says an Economist main scope of Operations is the CBN? Some of you have no know nothing about a country's central bank but act as if it your field!!

Why is the CB called the the Bank for Banks? That is because it has more to do with finance and Management than Economics.

The essential roles of a central bank are to affect monetary policy, be the lender of last resort, and oversee the banking system of a nation. Why do you think someone in the banking sector won't do more than a macro economist.

Seun:
Onye Ajuju, a policy expert, has provided data which demonstrates that inflation was lower under CBN governors like Soludo and Sanusi, who were economists.

He said,
See the data below:

Emefiele has a Masters in Finance

RepoMan007:
CBn is the bank of banks. The central one. He is right. CBN is monetary management and banking centred.
The love of money(macro economics) has made people assume whoever control money controls the economy. That's wrong. Supply of money can affect inflation but increase in production can equally effect or negate inflation so economic and currency strength goes well beyond CBN.

^^^


I always thought the love of money was the root of all evil. When did macro economics come into that verse?

CSTRR:

Everything

You are very wrong. Economy is production centred. CBN is money and banking centred. Two very different things 99.9% of people can't differentiate.

SmartyPants:


Thanks but while you may well be right, all of this is just your opinion - and being an opinion, is not capable of making my opinion wrong. So please come with superior authorities.

Even the opinions of respected subject-matter experts will be accepted as corroboration.

^^^


This isn't my opinion.

Its straight from the CBN Act - the law establishing the CBN.

My opinions have nothing to do with it. A web search of the CBN's own website will set you straight.

CSTRR:

The US is already established.

It can afford to run on autopilot.

Nigeria on the other hand is seriously sick.

lolz.. Christine Lagarde former IMF and current European central bank is a Lawyer

it's not about whether they are developed or not, your claim is wrong

Fujiyama:


^^^


This isn't my opinion.

Its straight from the CBN Act - the law establishing the CBN.

My opinions have nothing to do with it. A web search of the CBN's own website will set you straight.

Seems you're right. Fairs.

spy24:


You did, banking is majorly marketing and accounting

Please explain to me how Banking is Marketing.

MRMRMR:

No body really hate Peter obi, it is the style of the obidient mob he created that attracted hatred to him

What attracted hate for Jonathan? Maybe Obidients?

Just know that its only you that has been deceived.

jahsharon:


I voted for Buhari. I am not mad, maybe your parents are. I am not suffering, maybe your parents are suffering

Whatever can a drug baron supporter do but insult people online, e dey una blood.

It started from the useless economics of false and was better under the banker called sanusi th former first bank managing director sonur assumption is wrong

eitsei:
lolz.. Christine Lagarde former IMF and current European central bank is a Lawyer

it's not about whether they are developed or not, your claim is wrong

No, it's not.

The majority of the Central Bank heads of the United States and even the UK have background in economics.
Serious background, infact.

The vast majority of them.

Because they appointed one outlier due to politics does not change anything.

RepoMan007:
For an economy that is crude oil dependent, crude oil earnings placed side by side will have gone a long way to strengthen the point being sold to us.
What was supply and demand for forex like then too?
I remember Soludo capitalization of local banks with $6Bn, where is the 6Bn to do same today? I remember sanusi building billion naira projects in schools (ABU and more). Where is the fund to do those today?

Spot on.
The angle of claim is just too narrow

BrickDevo:

You don't know

I KNOW THAT IS WHY I SAID SOE

It has nothing to do with having an Economist as CBN governor, Nigerians don't think, the problem is over population with little or no jobs for the teeming population, how many companies did the so called economist attract to Nigeria when they held sway?

Why didn't the economist prioritize uninterrupted power generation and supply when they were CBN governors?

Those guys were just lucky to serve at a time when our economy was booming and awash with lots of cash. One of them is governor in Nigeria today, let him replicate the 'feats' he attained as CBN governor in his State.

Okiton:


Na so
This one wey get bsc for public administration wey wan enter so, nothing related to field wey him sabi
If Nigeria was a decent nation where public offices appointment are on merit, we should have been looking forward to people of PhD in economics, Mathematics, or mathematics/statistics for CBN jobs

But here criminals and drugs dealers are the ones handling public offices

Wetin concern mathematician or statistician with CBN governorship?

VeeVeeMyLuv:


Past 4 US federal Reserve Chairmen

Alan Greenspan, Ben Bernake, Janet Yellen and now Jerome Powell all American Economist!

Make we just dey play, dey play, dey playoooooo....

/
Jerome Powell is an economist but US economy is struggling as well with high inflation. Right now he is still fighting inflation with raising interest rate. Ben Bernanke instituted Quantitative Easing. US was in recession in 2008 and another economist was the Fed Chairman.
What will be will be.
/

Seun:
Onye Ajuju, a policy expert, has provided data which demonstrates that inflation was lower under CBN governors like Soludo and Sanusi, who were economists.

He said,
See the data below:

Likely,but I'd say this is not enough sample to arrive at a conclusion.

DrGoodman:


What attracted hate for Jonathan? Maybe Obidients?

Just know that its only you that has been deceived.

Jonathan was voted out olodo. Except you believe that any politician who loses election is hated.
Anyway pitobi didn't just lose, he was given a lesson on political strategy 101 by Prof BAT

001Lotion:
And who says an Economist main scope of Operations is the CBN? Some of you have no know nothing about a country's central bank but act as if it your field!!

Why is the CB called the the Bank for Banks? That is because it has more to do with finance and Management than Economics.

The essential roles of a central bank are to affect monetary policy, be the lender of last resort, and oversee the banking system of a nation. Why do you think someone in the banking sector won't do more than a macro economist.

the role of the central banks goes beyond that. they help manage unemployment, they help stabilise prices at the aggregate level, most importantly they help the foreign exchange market to be stable through various policies, interest rate stability, and also spurs economic growth.
it goes beyond micro economics.. economics at individual level to macros economics.

tell me what does a marketer knows about economic modelling, what does he knows about exploring various advanced economic theories?
what does he know about econometrics at the advanced stages when we are dealing models that has to do with single explanatory variables and multiple explained variables.

an economist has been trained on various economic theories which guide them through just like an engineer will fully rely on theories like that of einstein theory of relativity... that guides them.

the way an accountant sees cost is not the way an economist see cost.

the way an economics sees linear regression is different from the way a statisticians see it. while to a statistician every data is static, in econometrics its assumed that it is not soo rather there are is an error term u or e known as disturbances

y= a+bY+u in a simple economic model

the bankers are interested in more on money market where they seeks to make profits within few months or typically under a year.
while an economist will rather look at long term goals and objective... the money market is not the only aspect of an economy.

business management, projects management, banking and finance have their specialisation but not a substitute for an economist.

an economist is trained to master R, STATA, SPSS etc which economic data can be analyse and given best interpretation.

if you have done specialisation on MSc level... as regards economics then you won't say what you just said

001Lotion:
Economics, Bank and Finance and Management are the fields that could effectively handle a macro economy.

You don't necessary need to be an Economist, as long as you are from the above area of specialization and you're good at what you do, then no issues as those courses can easily be intertwined.

nah!!! That position is for economists not bankers.

Seun:
Onye Ajuju, a policy expert, has provided data which demonstrates that inflation was lower under CBN governors like Soludo and Sanusi, who were economists.

He said,
See the data below:

Please how exactly is Sanusi an economist