Sunday, March 7, 2021
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THE ROLE MODEL SERIES & MENTORING DR. SARAH OMOTUNDE ALADE — A WOMAN OF HIGH FORTITUDE ONE OF NIGERIA’S ‘’HIDDEN RESOURCES’’ REDISCOVERE Dr. (Mrs) Sarah Omotunde Alade’s appointment as Special Adviser on Finance and the Economy with her office domiciled in the Federal Ministry of Finance, Budget and National Planning is significant in some respects. First, Omotunde Alade is coming in with a huge wealth of experience in the financial services sector spanning over 30 years. In the second instance, her appointment is a boost to women empowerment given the importance of women to societal development. Thirdly, the former Deputy Governor of the Central Bank of Nigeria, a square peg in a square hole will join other top economists to play the roles of Economic Advisers to the President. Next, this appointment also addresses the issue of perceived marginalization of women in the scheme of things in Nigeria. A UNDP Report titled: ‘Africa Human Development Report 2016’ released by the United Nations Development Programme indicates that ‘’The pervasive gender gap in economic activities is constraining the African continent from achieving its full economic potential, averages a loss of about $95 billion annually or $580 billion in sub-Saharan Africa since 2010.’’ Other obstacles identified are: ‘’deeply-rooted structural obstacles including unequal distribution of resources, power and wealth, combined with social institutions and norms that sustain inequality, that are holding African women, and the rest of the continent, back. The report further observed that African women achieve only 87 per cent of the human development outcomes of men, and hold 66 per cent of all jobs in the non-agricultural informal sector but only make 70 cents for each dollar made by men. It also stated that only between seven and 30 per cent of all private firms have female managers. PROFILE: Dr. Sarah Omotunde Alade was born in Offa, Kwara State over 60 years ago. Her last appointment on Nigeria’s Public Sector, when she functioned as acting Governor of the Central Bank of Nigeria on 20th February, 2014. Many people had looked forward to Sarah Alade’s upgrading as CBN based on her cognate experiences, versatility, an uncompromising expert in financial matters and her principles of unwavering and unbending commitment to her duties. She never got the appointment but left with her head unbowed at the CBN later accused of shortcomings and administrative lapses. At various times, she served as Deputy Governor (Economic Policy),…

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