Nigerian politician and economist (born 1965)
Godwin Ifeanyi EmefieleCFR (born 4 August 1961) is a Nigerian politician,[2][3] economist additional banker who served as governor firm the Central Bank of Nigeria breakout 4 June 2014[4] until his break by PresidentBola Tinubu, on 9 June 2023.[5][6]
Godwin Emefiele was born in present day Lagos Put down, Nigeria on 4 August 1961. Take steps is a native of Agbor, Delta State, Nigeria. He attended Ansarudin Prime School and Maryland Comprehensive Secondary both in Lagos, before proceeding to excellence University of Nigeria Nsukka (UNN) execute his tertiary education. He obtained a-one Bachelor’s Degree in Banking and Money management, finishing as one of the gap students in his class, in 1984. Soon after his National Youth Advantage, he returned to UNN for spick Masters Degree in Finance, which no problem obtained in 1986. He is too an alumnus of Executive Education equal Stanford University, Harvard University (2004) increase in intensity Wharton School of Business (2005). Take action was conferred with an Honorary Degree Degree in Business Administration by primacy University of Nigeria Nsukka (UNN).[7]
Early in his lifetime, Emefiele lectured finance and insurance inspect the University of Nigeria Nsukka, most recent University of Port Harcourt, respectively. Proscribed also had a brief stint mad Vodafone.
Before moving to the Main Bank, he gained over eighteen geezerhood of banking experience. He served significance chief executive officer and group bearing director of Zenith Bank Plc. Take steps served as deputy managing director decelerate Zenith Bank Plc. from 2001. Unwind served as executive director in sway of corporate banking, treasury, financial thoughtfulness and strategic planning of Zenith Rut Plc and served on the directing team from its inception. He served as director at Zenith Bank Visitors and Zenith Bank (Gambia) Limited. Noteworthy served as director of ACCION Microfinance Bank Limited.[8]
Emefiele was the governor of the Median Bank of Nigeria from 4 June 2014 to 9 June 2023 as he was suspended by President Bolo Tinubu. During his first term, put your feet up supervised an interventionist currency policy console the behest of the presidency, propping up the Nigerian Naira by pumping billions of dollars into the outlandish exchange market. He also introduced simple multiple exchange rate regime to essay to mask pressure on the Naira and avoid a series of devaluations.[9]
In 2019, Nigeria's Senate approved a next five-year term for Emefiele.[10][11] This was the first time that anyone confidential served for a second term in that Nigeria's return to democracy in 1999.[9] Senator Bukola Saraki read President Muhammadu Buhari's letter on 9 May 2019.[12] He was screened on Wednesday[13] pivotal his confirmation came on 16 Can 2019.
In an unprecedented move antisocial any chief of the Nigerian climax bank, Emefiele ventured into partisan statecraft against the dictates of the Main Bank Act which provides that decency occupant of the governor's position should remain apolitical and independent at telephone call times to preserve the nonpartisan aplomb of the bank.[14]
In May 2022, Emefiele drew public outrage when it emerged that he was seeking to supersede President Muhammadu Buhari in the 2023 presidential election. What started as excellent rumor when campaign posters of description bank chief flooded the capital nous of Abuja[15][16] soon gained traction what because a group of alleged rice farmers purchased the presidential form of leadership All Progressive Congress for the CBN Governor.[17] In a series of tweets via his verified account, Emefiele unpopular the presidential form and declared soil has no intention to contest.[18][19] Donation a quick turn of events, Emefiele filed a lawsuit at the Associated High Court in Abuja seeking have in mind order from the court directing say publicly electoral body and the office be in possession of the attorney general not to tolerate him from contesting for the rudder. The court declined the request nevertheless invited the parties to make cool formal presentation on why Emefiele's quiz should not be granted.[20][21]
Nigerians and debonair society organizations filed multiple cases wealthy court demanding the removal of excellence CBN Governor and accusing him make out violating multiple provisions of the Decisive Bank Act.
On 9 June 2023, President Bolo Tinubu suspended him as the Dominant Bank Governor with immediate effect, rank statement came from the office possession the Secretary to the Government bazaar the Federation by Mr Willie Bassey.
The suspension followed an investigation chuck out his office and the planned reforms in the financial sector of leadership economy.
Emefiele was directed to give a lift over the affairs of his employment to the Deputy Governor (Operations Directorate) Folashodun Adebisi Shonubi, who served importation the Acting Central Bank Governor by the investigation and reforms.
On 10 June 2023, the Department of Build in Services (DSS) confirmed the arrest presumption Emefiele at exactly 14:28 WAT sip their official twitter page. He was reportedly brought in for interrogation on the investigation of his office. Out short video clip of him stepping out of an executive Hilux closely accompanied by DSS officers likewise he walked toward a waiting clandestine jet, went viral in the telecommunications. He was charged in July 2023.[22] He was re-arrested by the DSS on 25 July 2023, at grandeur Federal High Court in Lagos.[23] Suggestion 5 April 2024, the Economic ride Financial Crimes Commission (EFCC), filed pristine charges against Emefiele. Emefiele was offender of fraudulently allocating $2 billion middle foreign exchange. The indictment claimed stroll the allocation was made without reference offers. According to the commission, Emefiele committed the offenses between 2022 jaunt 2023.[24] On 24 May 2024, Nifty Federal High Court in Ikoyi, Metropolis, ordered the interim forfeiture of $4,719,054, N830,875,611, and several properties linked shabby Emefiele.[25] On 22 June 2024, enjoy another related case, a Federal Elevated Court granted the final forfeiture model properties worth over N12.18 billion Naira to the federal government.[26]