Keynote speakers

William L. Megginson

Bill Megginson is Professor and Rainbolt Chair in Finance at the University of Oklahoma’s Michael F. Price College of Business. He is also the KFUPM Chair Professor in Finance at King Fahd University of Petroleum and Minerals (Dhahran, Saudi Arabia), as well as Editor and Scientific Director of the Privatization Barometer. From 2002 to 2007, he was a voting member of the Italian Ministry of Economics and Finance’s Global Advisory Committee on Privatization. During spring 2008, he was the Fulbright Tocqueville Distinguished Chair in American Studies and Visiting Professor at the Université-Paris Dauphine. He received the University of Oklahoma’s top research prize, a George Lynn Cross Research Professorship, in April 2010.

Professor Megginson’s research interest has focused in recent years on the privatization of state-owned enterprises, the investment policies of sovereign wealth funds, and the valuation and management of global investment banks. He has published refereed articles in several top academic journals, including the Journal of Economic Literature, the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies, the Journal of Financial and Quantitative Analysis, and Foreign Policy. His co-authored study documenting significant performance improvements in recently privatized companies received one of two Smith Breeden Distinguished Paper Awards for outstanding research published in the Journal of Finance during 1994. He is author or co-author of nine textbooks.

Professor Megginson’s research has been frequently cited in academic and professional publications. His articles have been downloaded over 44,000 times from the Social Sciences Research Network, and his books and articles have been cited over 10,700 times (according to Google Scholar). His co-authored privatization survey article, published in the Journal of Economic Literature in 2001, is the eighth most widely cited finance article published since 2000, and the most widely cited article published in 2001.  He is associate editor for two academic journals, and has served as a privatization consultant for the New York Stock Exchange, the OECD, the IMF, the World Federation of Exchanges, the World Bank, and multiple national governments. He has visited 75 countries during his lifetime, and has lived in Spain, Pakistan, Switzerland, the Netherlands, France, and Saudi Arabia, in addition to the United States.

Dr. Megginson has a B.S. degree in chemistry from Mississippi College, an MBA from Louisiana State University, and a Ph.D. in finance from Florida State University. Prior to entering academia in 1986, he worked for five years as a petroleum chemist at the world’s largest styrene monomer plant and at the largest independent petroleum refinery in the United States. He has been a Visiting Professor at Duke University, Vanderbilt University, the University of Zurich, the University of Amsterdam, the University of Bristol, Bocconi University, King Fahd University of Petroleum and Minerals, and Université-Paris Dauphine.

 

Mallam Sanusi Lamido Sanusi (CON)

Sanusi Lamido Sanusi (CON) was born in Kano Northern Nigeria, on July 31, 1961.  He started his education at St. Anne’s Primary School in Kakuri, Kaduna.  He attended the prestigious King’s College, Lagos between 1973 and 1977, and went on to graduate with a Bachelor’s degree in Economics from the Ahmadu Bello University in 1981.  After his National Youth Service, Sanusi pursued a Masters Degree programme in Development Economics and came out with a Distinction. He also taught Economics at the Ahmadu Bello University between 1983 and 1985, and then embarked on a banking career, starting at Icon Limited, Merchant Bankers, where, over a period of seven years, he held a variety of roles spanning Corporate Finance, Treasury Services, Credit and Marketing.  He left the banking in 1991 as Area Manager (Kano) to pursue further education, and in 1997, he graduated with a First Class Degree in Sharia and Islamic Studies from the International University of Africa, Khartoum, Sudan, where he also studied Arabic.

Sanusi returned to banking in 1997, joining the newly privatized United Bank for Africa (UBA) Plc as Principal Manager in the Credit Risk Management Division.  By March 2005, he had risen to general Manager, while building a reputation as an expert on Risk Management.  In September 2005, he was recruited by First Bank of Nigeria Plc and appointed to the position of Executive Director, Risk & Management Control.  There, he would champion remarkable developments in the bank’s enterprise risk and management control systems.  As a member of the Board and Executive Management, he displayed depth and capacity to make significant contributions, with an eclectic knowledgebase beyond his immediate areas of responsibility.  In January 2009, Sanusi was appointed to the position of Group Managing Director/Chief Executive Officer of First Bank, but after only six months, he got a higher national calling with his appointment as the 10th Governor of the Central Bank of Nigeria (CBN) in June 2009.

Sanusi was appointed Governor in the middle of a global financial crisis with the Banking system on the verge of collapse due to large exposure to the stock market in the form of bubble capital and excessive margin lending by some banks, as well as concentration of lending to other areas like petroleum marketing.  Under his leadership, the Central Bank of Nigeria moved swiftly and boldly to implement far-reaching reforms in the Banking Industry aimed at addressing the root causes of the crises in poor corporate governance and risk management practices, management fraud, insider abuses and weak regulation supervision and enforcement.

A joint audit exercise carried out by the Central Bank and the Nigeria Deposit Insurance Corporation (NDIC) revealed that eight out of the twenty-four deposit money banks in the country were in a grave situation leading to the removal of the Management by the CBN and injection of bail-out funds to stabilize the institution.  The first set of intervention occurred on August 14, 2009.  Since that date, the CBN has issued guidelines and implemented new regulation as policies.  Among these are:

  • Review of Prudential Guidelines to encourage lending to the real sector
  • Compulsory adoption of common year ended for financial reporting and enhanced reporting standards
  • Compulsory retirement of CEOs who have spent upwards of 10 years in office
  • Tenure limit of 12 years for non-executive directors enforced in line with guideline issued in 2006
  • Compulsory change of external auditors after ten years also as approved in 2006
  • Abolition of Universal Banking and issuance of graduated authorization for licenses of international nature and regional levels
  • Spearheading real sector reform advocacy with government for power, petroleum, agriculture and industrial policy
  • Enhanced coordination with regulatory agencies like Securities and Exchange Commission (SEC), National Pension Commission (PENCOM) and NDIC to entrench overall system stability
  • Restoration of stability to the foreign exchange and money market, and
  • Increased focus on capacity building and process efficiency in the CBN.

Mallam Sanusi’s tough, decisive and transparent actions have earned him greater and wider recognition, including a special invitation in November 2010, by the United Sates Congressional Sub-Committee on International Monetary Policy and Trade, to give testimony at a congressional hearing titled, “The Global Financial Crisis and Financial Reforms in Nigeria”.

Mallam Sanusi was awarded the National Honour of Commander of the Order of the Niger (CON) by His Excellency, President Goodluck Jonathan on July 22, 2010 and has been admitted into the fellowship of the Chartered Institute of Bankers of Nigeria (CIBN). As descendant of the Kano royal family, he was conferred the prestigious royal title of the Dan Majen Kano by His Highness Alh. Ado Bayero, the Emir of Kano on 8 June, 2012. He has also been awarded the following honours and awards:

  • Honourary Doctorate Degree of Science by University of Benin, 2011
  • Honourary Doctorate Degree of Science by Benue State University, Markudi, 2011
  • “Person of the Year Award 2011” by Forbes Africa Magazine
  • Two time winner (2010 & 2011), Central Bank Governor of the Year for Sub-Saharan Africa, by Emerging Markets – a publication of Euromoney
  • 2011 TIME 100 Most Influential People in the World by the famous TIME magazine
  • Honourary Doctrate Degree of Letters by the Bayero University, Kano on March 26, 2011
  • Honourary Doctorate Degree in Law by the University of Jos, on 19th March, 2011
  • Honourary Doctorate Degree in Business Administration by the University of Nigeria, Nsukka, February 2011.
  • Global/African Central Bank Governor of the Year 2011 by The Banker Magazine, a Financial times publication, January 2011
  • Silverbird Man of the Year 2010
  • Tribune Newspapers Man of the Year 2010
  • Vanguard Newspaper Man of the Year 2010
  • Sardauna Leadership Award, 2010
  • The Nation Newspaper Man of the Year 2009
  • Leadership Newspaper Man of the Year 2009.

As a prolific writer, Mallam Sanusi has written and presented numerous papers at National and International conferences and seminars bordering on banking, politics, religion and society.  Many of his papers have been published in academic/professional journals, books and newspapers around the world.

Sanusi is married and blessed with children.