Sarah Alade
Sarah Omotunde Alade | |
|---|---|
| Occupation(s) | Economist, Banker, Academic |
| Years active | 1977–2017 |
| Known for | Acting Governor of the Central Bank of Nigeria (Feb–Jun 2014) |
Sarah Omotunde Alade is a distinguished Nigerian economist who assumed the role of acting governor at the Central Bank of Nigeria following the suspension of Sanusi Lamido Sanusi. She was appointed to this interim position by President Goodluck Jonathan on 20 February 2014 and served until the appointment of Godwin Emefiele in June 2014. Alade held the post of deputy governor (Economic Policy) at the Central Bank from 26 March 2007 until her retirement on 22 March 2017.
Education
Alade completed her Bachelor of Science with Honours in Economics at the University of Ife in 1976. She further advanced her studies by earning a Master of Commerce degree from the University of Melbourne in 1983, followed by a Doctorate in Management Science (Operations Research) from the University of Ilorin in 1991.
Career
Her professional journey commenced in 1977 at the Ministry of Finance and Economic Development in Ilorin, Kwara State. In 1991, she transitioned to academia as a lecturer specializing in Accounting and Finance at the University of Ilorin. Two years later, in 1993, Alade joined the Central Bank of Nigeria as an assistant director within the Research Department. She led several divisions including the State Government Finance Office (1993–1996), Federal Government Finance Office (1996–2000), and Fiscal Analysis Division (2000–2004).
Alade played an instrumental role in significant economic policy research and contributed to formulating monetary and credit policy recommendations for the CBN. She was actively engaged in drafting Nigeria’s Medium Term Economic Programme (MTP) and worked on the IMF Staff Monitored Programme/Standby Arrangement frameworks.
During her tenure as deputy governor, she witnessed critical events such as the 2009 removal of five Nigerian bank CEOs, which included leadership changes at Union Bank and FinBank. In May 2004, she was appointed director of the Banking Operations Department, where she also chaired the board of the Nigeria Interbank Settlement System (NIBSS) and served as secretary to the National Payments System Committee (NPSC).
Her expertise extended to participation in technical committees for Vision 2010 and Vision 2020 initiatives, as well as membership on the National Economic Management Team (EMT). As deputy governor overseeing Economic Policy, Alade managed departments including Research, Monetary Policy, Trade and Exchange, Statistics, and Financial Markets. She also chaired the Monetary Policy Implementation Committee (MPIC), coordinating contributions for the Monetary Policy Committee (MPC).
Alade is affiliated with professional bodies such as the Nigerian Economic Society (NES) and holds fellowship status with the Nigerian Institute of Operational Research. Her scholarly work includes numerous publications focusing on interest rate policy and monetary policy execution within Nigeria.
She acted as governor from February through June 2014 until Godwin Emefiele took office. After dedicating 24 years to service at CBN, she retired from her deputy governorship in March 2017. In November 2019, President Muhammadu Buhari appointed her as Special Adviser on Finance and Economy.