Godwin Emefiele is a Nigerian banker who has been the Central Bank of Nigeria’s (CBN) governor since 2014. Mr. Godwin Emefiele has been in the headlines of Nigeria since the CBN declared the redesign of the naira in 2022.
People have been wondering to know more about the CBN governor since then.
Are you curious to discover more about this well-known personality? We’ll tell you everything you need to know about Godwin Emefiele.
Godwin Emefiele: Early Life And Education
Godwin Emefiele was born in Lagos on August 4, 1961. He is a native of the Ika South and Agbor regions of Delta State.
Emefiele completed his secondary education at Ansar Udin Primary School and Maryland Comprehensive Secondary, Lagos. After school, he joined the prestigious University of Nigeria Nsukka (UNN) for further studies.
In 1984, he graduated with a Bachelor of Science in Banking and Finance. Emefiele returned to UNN shortly after completing his National Youth Service to earn a master’s in finance.
In addition, he graduated from the Executive Education programs at Stanford University, Harvard University, and the Wharton School of Business in 2004. The University of Nigeria Nsukka awarded him an honorary doctorate in business administration.
Godwin Emefiele: Beginning Of Career
Early in his career, Emefiele lectured in finance and insurance at the University of Nigeria in Nsukka and Port Harcourt. He also worked for the telecom company Vodafone.
Emefiele had more than 18 years of experience in the banking sector before joining the CBN. he worked for Zenith Bank Plc and held the designations of group managing director, deputy managing director, and CEO.
He served as executive director in corporate banking, treasury, financial control, and strategic planning. He was a founding member of Zenith Bank’s management team. He also serves as a director of ACCION Microfinance Bank Limited.
Godwin Emefiele: As Governor Of CBN
Emefiele joined as the governor of the Central Bank of Nigeria in 2014. During his first term, he led an interventionist currency policy of flooding the foreign exchange market with billions of dollars to strengthen the Nigerian Naira. He also instituted a multiple exchange rate regime to conceal Naira pressure and stop a series of currency depreciation.
In 2019, The Nigerian Senate gave Emiefiele a second five-year term to serve as the governor of CBN. He was the first to serve as the governor of CBN two times.
Godwin Emefiele: Personal Life
Godwin Emefiele was married to Margaret Emefiele. The information about her is largely unknown.
Godwin Emefiele and Margaret Emefiele have two children together. Pammichukwu Emefiele Jr. and Andrew Olishehike Emefiele are the names of his sons. However, information about the children is unknown.
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Godwin Emefiele: Controversies
Godwin Emefiele entered partisan politics in an unusual action for the head of Nigeria’s central bank, defying the requirements of the Central Bank Act, which states that the governor of a bank must always maintain an unbiased and apolitical stance.
Emefiele infuriated the nation in May 2022 when it became known that he intended to run against President Muhammad Buhari in the 2023 election.
What first began as a rumor when the bank’s chief executive’s campaign posters flooded Abuja, the nation’s capital when a group of purported rice farmers bought the APC Governor of the Central Bank of Nigeria’s presidential form.
Emefiele rejected the presidential application and stated that he had no intention of running for office on his official Twitter account.
However, in a sudden turn of events, Emefiele filed a case at the Federal High Court in Abuja, requesting that the court issue an order telling the electoral commission and the attorney general’s office not to intervene in his election.
The court declined the plea and ordered them to make a formal explanation to the court explaining why Emefiele’s request got denied.
The dismissal of the CBN Governor due to violations of the apex bank Act has demanded many legal proceedings brought by Nigerians and Civil Society Organisations. Emefiele is one of the most prolific national fund looters through CBN.
In 2022, the Central Bank of Nigeria declared the redesigning of the naira notes that made Emefiele fall into various controversies. People are questioning this action even though the bank gave proper explanations.
Godwin Emefiele: Net Worth
The exact amount of Godwin Emefiele is unknown to anyone and there are various accounts regarding this. Some argue that the CBN Governor has only $2 million in net worth, while others say it is $50 million.
Whatever the case, Emefiele is a significant participant in the Nigerian economy and has accumulated a sizable wealth over the years. The 61-year-old has extensive experience working in the public and commercial sectors.
Emefiele has shares in various businesses and shares are one of the sources of his wealth besides the salary from the CBN. Emefiele reportedly owns a mansion in Nigeria where he has several high-end vehicles.
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