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Sarah Alade OON
Former Deputy Governor at Central Bank of Nigeria


Dr. Sarah Alade holds a B Sc. (Hons) Economics 1976 from University of Ife, Ile Ife, Master of Commerce, University of Melbourne and a PhD Management Science 1991 from University of Ilorin. She was Deputy Governor of Central Bank of Nigeria (CBN) in charge of Economic Policy from 2007-2017. In that capacity she was responsible for Monetary Policy Committee Meetings, and was the Chair of Monetary Policy Implementation Committee. She supervised Monetary Policy, Research, Trade & Exchange, Financial Markets and Statistics Departments of the Bank. She coordinated the publication of Annual Report of the Bank, Monetary Policy Review, Statistics Bulletin and other publications from the Departments she supervised. In addition, she had executive responsibility for the management of multilateral and bilateral relationships, including IMF, World Bank, ECOWAS, WAMI, and Association of African Banks. 

In 2014 Dr. Alade was appointed Acting Governor of the Central bank of Nigeria.

Previously as Deputy Governor Operations (July – December 2007), she was responsible for the deployment of CBN payment system, as well as the supervision and oversight of the national payment system in addition to the coordinating and supervising the execution of domestic and foreign currency settlements, and the management of the Nation’s foreign reserves and the Bank’s foreign investments.

Prior to her appointment as Deputy Governor, she gained broad Central Banking and Financial System experience in various roles. As Assistant Director of Research Department she served as Head of State Government Finance Office (1993-1996), Head of Federal Government Finance Office (1996-2000) and as Deputy Director and Head of Fiscal Analysis Division (2000-2004). In 2004 she was appointed Director Banking Operations, and had responsibility for Payment System and Monetary Policy implementation. She served as Chairman Board of Directors for Nigeria Interbank Settlement System (NIBSS), Chairman Payments System Strategy Committee.

Previous work experience also included a period at Kwara State Ministry of Finance and Economic Development; an experience that was  valuable to the working realities of promoting better coordination between Monetary and Fiscal policies.

Dr. Alade is a recipient of many awards and honors. She is a Fellow of Nigeria Economic Society, a Fellow of the Nigeria Statistical Association (NSA).  She is also a fellow of the Chartered Institute of Bankers of Nigeria (CIBN) and the Nigerian Institute of Operational Research.  Dr. Alade was the Chairman of the Board of Directors of African Finance Corporation (AFC), Financial Market Dealers Quotation, and the Nigerian Export Import Bank (NEXIM).

Dr. Alade has several publications in local and international journals. She has strong interest in Price and Financial System Stability, and consistently led research efforts to generate insights that can be applied to Nigeria, and broadly the African context to drive inclusive economic growth and participation.

Sarah Alade OON's Network