My thought on Nigerian finance minister-Andrew

Fair to say Zainab’s profile won’t make EM fund managers bring
out the cigar, but those that are patient will see she brings value to
the table in the area of public audit and fiscal accounting. You can
argue these are not the best qualities needed during an EM crisis.
Kemi didn’t really understand public audit and fiscal accounting
and this was clear to see. Zainab would need an Investment Bank
to take her on a roadshow before the next Eurobond and get
investors comfortable but her previous work prepares her for 2
reasons
1. She was the first to audit and released a detailed report on the
special accounts sitting at the Presidency. These accounts can be
used for anything by the President without oversight. These
accounts funded the fertilizer scams of the last two
administrations
1. She was the first to audit and released a detailed report on the
special accounts sitting at the Presidency. These accounts can be
used for anything by the President without oversight. These
accounts funded the fertilizer scams of the last two
administrations
2. She used to handle finance for a State SOE so she will
understand SOE budgeting. SOE budgeting is one area that has
remained very opaque in Nigeria and seems to drain funds every
year. Her appointment is a tad too late. 2015 would be have been
perfect
She would have needed a Minister of State with background in IB
to get investors comfortable though. Funny thing is she lost in
2015 due to Federal Character. What an irony. I think she deserves
a chance so we shouldn’t just dismiss her off.

Be the first to get updated. Subscribe to our newsletter

Share This Post

1 Comment

  1. Good

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>




Enter Captcha Here :