Local News
In Sierra Leone, Parliament approves New Bank Governor
By Aminata Fofanah
Jun 12, 2009, 17:08

Parliamentarians in the Sierra Leone House of Parliament, on Thursday 11th June 2009 registered their confirmation of the appointment of Sheku S. Sesay as the new Governor of the Bank of Sierra Leone.

In his statement, the Majority Leader of Parliament Hon. Eddie Turay disclosed that the Parliamentary Committee on Appointment has thoroughly looked into the qualifications of the nominee and has come to the conclusion that he is the most suitable and qualified person to handle such a noble appointment, based on his qualification, educational background and wealth of experience.

Several members from the opposition SLPP, including the Honorable Eric Jumu, expressed their satisfaction over the nomination of Mr. Sesay by the President to handle such an office.

They described Mr. Sesay as an illustrious son of the soil, a well dedicated humble and submissive individual, and expressed hope that he will execute his duties judiciously. Several sentiments were also made by members of the ruling APC party.

Upon his confirmation, the Speaker of Parliament Hon Justice Abel Strong congratulated Mr. Sesay on his appointment and wished him well in office.

On his part, the newly appointed Governor of the Bank of Sierra Leone Mr. Sheku S. Sesay expressed thanks and appreciation to the President for giving him the opportunity to serve his country in that capacity, and also thanked parliament for endorsing his appointment.

"I feel elated and gratified to be confirmed by Parliament following my appointment by H.E. the President, Dr. Ernest Bai Koroma, to be the next Governor of the Central Bank of Sierra Leone. I am very grateful for this trust and confidence and pray that Allah gives me the wisdom and understanding to discharge this responsibility successfully", Governor Sesay said, adding that he is taking over as Governor at a time when the financial crises and the associated recession in advanced countries is having a severe impact on the Sierra Leone economy; posing serious challenges to the maintenance of macro economic stability and poverty reduction efforts. He noted that his challenges are many, but sighted that he will ensure the stability of the Leone and the existence of a sound and reliable banking system and shall monitor vigorously developments in the external sector, monitor movements in the foreign exchange markets and management of the country’s international reserves.