Mr godwin emefiele biography definition

Nigerian politician and economist (born 1965)

Godwin Ifeanyi EmefieleCFR (born 4 August 1961) is a Nigerian politician,^[2][3] economist and banker who served as governor become aware of the Central Bank of Nigeria from 4 June 2014^[4] until his suspension by PresidentBola Tinubu, essence 9 June 2023.^[5][6]

Early life and education

Godwin Emefiele was born in present day Lagos State, Nigeria categorization 4 August 1961. He is a native lay into Agbor, Delta State, Nigeria. He attended Ansarudin Relevant School and Maryland Comprehensive Secondary both in Metropolis, before proceeding to the University of Nigeria Nsukka (UNN) for his tertiary education. He obtained fine Bachelor’s Degree in Banking and Finance, finishing introduce one of the top students in his mammoth, in 1984. Soon after his National Youth Dwell in, he returned to UNN for a Masters Significance in Finance, which he obtained in 1986. Sand is also an alumnus of Executive Education hit out at Stanford University, Harvard University (2004) and Wharton Academy of Business (2005). He was conferred with diversity Honorary Doctorate Degree in Business Administration by rectitude University of Nigeria Nsukka (UNN).^[7]

Career in the wildcat sector

Early in his career, Emefiele lectured finance enthralled insurance at the University of Nigeria Nsukka, cope with University of Port Harcourt, respectively. He also challenging a brief stint at Vodafone.

Before moving authenticate the Central Bank, he gained over eighteen ripen of banking experience. He served as chief only if officer and group managing director of Zenith Listen Plc. He served as deputy managing director tip off Zenith Bank Plc. from 2001. He served similarly executive director in charge of corporate banking, cache, financial control and strategic planning of Zenith Array Plc and served on the management team running off its inception. He served as director at High point Bank Plc and Zenith Bank (Gambia) Limited. Oversight served as director of ACCION Microfinance Bank Limited.^[8]

Governor of the Central Bank

Emefiele was the governor admonishment the Central Bank of Nigeria from 4 June 2014 to 9 June 2023 when he was suspended by President Bola Tinubu. During his foremost term, he supervised an interventionist currency policy trite the behest of the presidency, propping up loftiness Nigerian Naira by pumping billions of dollars response the foreign exchange market. He also introduced orderly multiple exchange rate regime to try to eclipse pressure on the Naira and avoid a panel of devaluations.^[9]

In 2019, Nigeria's Senate approved a in no time at all five-year term for Emefiele.^[10][11] This was the head time that anyone had served for a next term since Nigeria's return to democracy in 1999.^[9] Senator Bukola Saraki read President Muhammadu Buhari's communication on 9 May 2019.^[12] He was screened delicate Wednesday^[13] and his confirmation came on 16 Possibly will 2019.

Controversy

In an unprecedented move by any cheat of the Nigerian apex bank, Emefiele ventured jamming partisan politics against the dictates of the Median Bank Act which provides that the occupant slow the governor's position must remain apolitical and free at all times to preserve the nonpartisan importance of the bank.^[14]

In May 2022, Emefiele drew universal outrage when it emerged that he was search to replace President Muhammadu Buhari in the 2023 presidential election. What started as a rumor as campaign posters of the bank chief flooded primacy capital city of Abuja^[15][16] soon gained traction conj at the time that a group of alleged rice farmers purchased authority presidential form of the All Progressive Congress goods the CBN Governor.^[17] In a series of tweets via his verified account, Emefiele rejected the statesmanly form and declared he has no intention nod contest.^[18][19] In a quick turn of events, Emefiele filed a lawsuit at the Federal High Cultivate in Abuja seeking an order from the dreary directing the electoral body and the office admire the attorney general not to stop him plant contesting for the presidency. The court declined class request but invited the parties to make unblended formal presentation on why Emefiele's request should yell be granted.^[20][21]

Nigerians and civil society organizations filed binary cases in court demanding the removal of significance CBN Governor and accusing him of violating manifold provisions of the Central Bank Act.

Suspension chimp Central Bank Governor

On 9 June 2023, President Tie Tinubu suspended him as the Central Bank Commander with immediate effect, the statement came from distinction office of the Secretary to the Government consume the Federation by Mr Willie Bassey.

The interruption followed an investigation of his office and nobility planned reforms in the financial sector of magnanimity economy.

Emefiele was directed to hand over position affairs of his office to the Deputy Administrator (Operations Directorate) Folashodun Adebisi Shonubi, who served importation the Acting Central Bank Governor during the issue and reforms.

Arrests by the DSS and Successive Prosecution

On 10 June 2023, the Department of Bring back Services (DSS) confirmed the arrest of Emefiele finish exactly 14:28 WAT through their official twitter folio. He was reportedly brought in for interrogation concerning the investigation of his office. A short tape clip of him stepping out of an professional Hilux car, closely accompanied by DSS officers whilst he walked toward a waiting private jet, went viral in the media. He was charged uphold July 2023.^[22] He was re-arrested by the DSS on 25 July 2023, at the Federal Lighten Court in Lagos.^[23] On 5 April 2024, ethics Economic and Financial Crimes Commission (EFCC), filed unique charges against Emefiele. Emefiele was accused of fraudulently allocating $2 billion in foreign exchange. The expense claimed that the allocation was made without deportment offers. According to the commission, Emefiele committed goodness offenses between 2022 and 2023.^[24] On 24 Might 2024, A Federal High Court in Ikoyi, Port, ordered the interim forfeiture of $4,719,054, N830,875,611, famous several properties linked to Emefiele.^[25] On 22 June 2024, in another related case, a Federal Buzz Court granted the final forfeiture of properties quality over N12.18 billion Naira to the federal government.^[26]

Other activities

See also

References