Emefiele, The Device That Move Nigeria...

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Table of contents

• Who is Emefiele (early life)
• Career

Who is Emefiele.....

Early life.

Godwin Emefiele who is a native of Agbor, Delta State, in Nigeria was born in year 1961 August 4, in present Lagos State. He started is educational journey at Ansarudin primary school and later proceed to Maryland comprehensive secondary, both in Lagos. Afterwards, he continue is educational career to obtain a tertiary education at the renowned University of Nigeria Nsukka (UNN) where he earn a bachelor degree in banking and finance in year 1984. He eventually graduated as one of the top student in class. After completing his national youth service, he returned to (UNN) to embark on a master degree in France, which he duku completed in 1986. 

Godwin Emefiele continue his academy career through executive program at the renowned Stanford University,  later Harvard University in 2004. He proceed to Wharton school of business in 2005. Acknowledging his achievement the university of Nigeria Nsukka honoured him with an honorary doctorate degree in business administration.

CAREER

Emefiele's early career included lecturing finance and insurance at the University of Nigeria Nsukka and the University of Port Harcourt. Additionally, he had a brief tenure working for Vodafone.

Prior to his appointment as Governor of the Central Bank, Emefiele amassed more than eighteen years of banking experience. He held the positions of Chief Executive Officer and Group Managing Director at Zenith Bank Plc. He initially joined Zenith Bank as Deputy Managing Director in 2001 and played a key role on the management team since its establishment. Throughout his tenure at Zenith Bank, Emefiele served as Executive Director in charge of Corporate Banking, Treasury, Financial Control, and Strategic Planning. He also held directorship positions at Zenith Bank Plc and Zenith Bank (Gambia) Limited. Furthermore, he currently serves as a Director of ACCION Microfinance Bank Limited.

Governor Of Central Bank Of Nigeria

He later proceed to serve as the governor of the central bank of Nigeria from 4 July 2014 under president Goodluck Jonathan and was also elected the governor of central bank of Nigeria under president buhari. 

In his first term, at the direction of the presidency, he implemented an interventionist currency policy that involved injecting billions of dollars into the foreign exchange market to support the Nigerian Naira. Additionally, he implemented a multiple exchange rate regime with the aim of concealing the strain on the Naira and preventing a series of devaluations.

marks a significant milestone as the first time anyone has been granted a second term since Nigeria's transition to democracy in 1999. On May 9, 2019, Senator Bukola Saraki read President Buhari's letter recommending Emefiele for a second term in the Senate. Following his screening on Wednesday, May 16, 2019, Emefiele received confirmation for his second term.

Suspended

With immediate effect on June 9, 2023, President Bola Tinubu has suspended the Central Bank Governor, Mr Emefiele. This decision was conveyed through a statement from the office of the Secretary to the Government of the Federation, Mr Willie Bassey.

The suspension of Mr Emefiele is a result of an ongoing investigation into his office and the planned reforms in the financial sector of the economy.

In light of this development, Mr Emefiele has been instructed to hand over the responsibilities of his office to Mr Folashodun Adebisi Shonubi, the Deputy Governor (Operations Directorate). mr shunubi will assume the role of Acting Central Bank Governor until the investigation and reforms are concluded. folashodun Adebisi