After serving for 23 years at the Central Bank of Nigeria (CBN), 10 of which as Deputy Governor Economic Policy and one time Acting governor of the apex bank, Dr Mrs Sarah Alade bade an emotional farewell to the bank on Tuesday.
Speaking at the send-off dinner organized by the members of the Economic Policy Directorate of the CBN, governor of bank, Mr Godwin Emefiele described Alade’s departure as “not very happy” for him because Sarah Alade was not just a friend but a colleague and a moderating force who pulled him back from losing his cool during tense moments at the bank.
Emefiele described Alade’s 23 years at the bank as excellent and a good representative of ladies at the CBN, noting that it will be difficult to fill the vacuum her departure will create.
The CBN governor commended Alade for bowing out when the ovation was loudest and thanked her for contribution to learning in the apex bank and outside. The bank he said will continue to pray for her in her private capacity and will also seek her expertise from time to time to guide them.
Dr. Sarah Omotunde Alade was appointed Acting Governor of the Central Bank of Nigeria on 20th February, 2014. Prior to this time, she had served as Deputy Governor (Economic Policy), Central Bank of Nigeria from 26th March, 2007.
Dr. Sarah Alade commenced her working career in 1977 at 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 superintended 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 (NIOR), Association of National Accountant of Nigeria.
In February 2014, President Goodluck Jonathan appointed Alade as Acting Governor of the CBN to oversee the affairs of the bank from February to June 2014.She is the chairman of the board of directors of the Financial Market Dealers Quotation-Over the Counter (FMDQ-OTC), the African Finance Corporation (AFC) and the Nigeria Export Import Bank (NEXIM). Sarah Alade has several publications to her credit.