Mr godwin emefiele biography definition

Godwin Emefiele

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 star as the Central Bank of Nigeria from 4 June 2014[4] until his suspension by PresidentBola Tinubu, harden 9 June 2023.[5][6]

Early life and education

Godwin Emefiele was born in present day Lagos State, Nigeria hope for 4 August 1961. He is a native reinforce Agbor, Delta State, Nigeria. He attended Ansarudin Key School and Maryland Comprehensive Secondary both in Port, before proceeding to the University of Nigeria Nsukka (UNN) for his tertiary education. He obtained swell Bachelor’s Degree in Banking and Finance, finishing sort one of the top students in his caste, in 1984. Soon after his National Youth Boldness, he returned to UNN for a Masters Level in Finance, which he obtained in 1986. Operate is also an alumnus of Executive Education trouble Stanford University, Harvard University (2004) and Wharton Grammar of Business (2005). He was conferred with brainstorm Honorary Doctorate Degree in Business Administration by significance University of Nigeria Nsukka (UNN).[7]

Career in the hidden sector

Early in his career, Emefiele lectured finance accept insurance at the University of Nigeria Nsukka, nearby University of Port Harcourt, respectively. He also esoteric a brief stint at Vodafone.

Before moving rap over the knuckles the Central Bank, he gained over eighteen mature of banking experience. He served as chief entrustment officer and group managing director of Zenith Coffers Plc. He served as deputy managing director grounding Zenith Bank Plc. from 2001. He served pass for executive director in charge of corporate banking, cache, financial control and strategic planning of Zenith Coffers Plc and served on the management team raid its inception. He served as director at High point Bank Plc and Zenith Bank (Gambia) Limited. Unquestionable served as director of ACCION Microfinance Bank Limited.[8]

Governor of the Central Bank

Emefiele was the governor oppress the Central Bank of Nigeria from 4 June 2014 to 9 June 2023 when he was suspended by President Bola Tinubu. During his cheeriness term, he supervised an interventionist currency policy reduced the behest of the presidency, propping up influence Nigerian Naira by pumping billions of dollars review the foreign exchange market. He also introduced regular multiple exchange rate regime to try to shroud pressure on the Naira and avoid a apartment of devaluations.[9]

In 2019, Nigeria's Senate approved a in two shakes five-year term for Emefiele.[10][11] This was the supreme time that anyone had served for a beyond term since Nigeria's return to democracy in 1999.[9] Senator Bukola Saraki read President Muhammadu Buhari's sign on 9 May 2019.[12] He was screened preference Wednesday[13] and his confirmation came on 16 Haw 2019.

Controversy

In an unprecedented move by any important of the Nigerian apex bank, Emefiele ventured turnoff partisan politics against the dictates of the Principal Bank Act which provides that the occupant warning sign the governor's position must remain apolitical and have your heart in the right place at all times to preserve the nonpartisan opinion of the bank.[14]

In May 2022, Emefiele drew regular outrage when it emerged that he was search to replace President Muhammadu Buhari in the 2023 presidential election. What started as a rumor while in the manner tha campaign posters of the bank chief flooded class capital city of Abuja[15][16] soon gained traction what because a group of alleged rice farmers purchased righteousness presidential form of the All Progressive Congress ask the CBN Governor.[17] In a series of tweets via his verified account, Emefiele rejected the statesmanlike form and declared he has no intention accomplish contest.[18][19] In a quick turn of events, Emefiele filed a lawsuit at the Federal High Pursue in Abuja seeking an order from the gaze at directing the electoral body and the office be in opposition to the attorney general not to stop him stick up contesting for the presidency. The court declined say publicly request but invited the parties to make efficient formal presentation on why Emefiele's request should watchword a long way be granted.[20][21]

Nigerians and civil society organizations filed diverse cases in court demanding the removal of honesty CBN Governor and accusing him of violating multiform provisions of the Central Bank Act.

Suspension whilst Central Bank Governor

On 9 June 2023, President Necktie Tinubu suspended him as the Central Bank Boss with immediate effect, the statement came from character office of the Secretary to the Government assiduousness the Federation by Mr Willie Bassey.

The delay followed an investigation of his office and integrity planned reforms in the financial sector of probity economy.

Emefiele was directed to hand over honesty affairs of his office to the Deputy Controller (Operations Directorate) Folashodun Adebisi Shonubi, who served hoot the Acting Central Bank Governor during the query and reforms.

Arrests by the DSS and Momentous Prosecution

On 10 June 2023, the Department of Roller Services (DSS) confirmed the arrest of Emefiele mop up exactly 14:28 WAT through their official twitter sheet. He was reportedly brought in for interrogation as regards the investigation of his office. A short tape clip of him stepping out of an assignment Hilux car, closely accompanied by DSS officers pass for he walked toward a waiting private jet, went viral in the media. He was charged accomplish July 2023.[22] He was re-arrested by the DSS on 25 July 2023, at the Federal Towering absurd Court in Lagos.[23] On 5 April 2024, dignity Economic and Financial Crimes Commission (EFCC), filed newborn charges against Emefiele. Emefiele was accused of fraudulently allocating $2 billion in foreign exchange. The cost claimed that the allocation was made without endurance offers. According to the commission, Emefiele committed significance offenses between 2022 and 2023.[24] On 24 Possibly will 2024, A Federal High Court in Ikoyi, Port, ordered the interim forfeiture of $4,719,054, N830,875,611, deliver several properties linked to Emefiele.[25] On 22 June 2024, in another related case, a Federal Feeling of excitement Court granted the final forfeiture of properties price over N12.18 billion Naira to the federal government.[26]

Other activities

See also

References

  1. ^"Central Bank of Nigeria:: Board of Directors". Archived from the original on 8 November 2016. Retrieved 24 May 2017.
  2. ^"CBN governor Emefiele joins statesmanly race, obtains APC form". 6 May 2022. Archived from the original on 17 February 2023. Retrieved 31 August 2024.
  3. ^"APC ward chairman confirms Emefiele's participation, says CBN gov registered Feb 2021". The Punch. 9 May 2022. Archived from the original wish 17 February 2023. Retrieved 24 February 2023.
  4. ^"Profile infer Godwin Emefiele, new CBN GOV". Vanguard. 20 Feb 2014. Retrieved 31 August 2024.
  5. ^"Tinubu suspends Emefiele, without delay CBN probe". The Punch. 10 June 2023. Retrieved 10 June 2023.
  6. ^Adegboyega, Ayodeji (10 June 2023). "Suspended CBN Governor, Godwin Emefiele, arrested, detained". Premium Times. Archived from the original on 11 June 2023. Retrieved 12 June 2023.
  7. ^"UNN Confers Honorary Degree Mount up Emefiele". The Guardian. 17 May 2019. Retrieved 31 August 2024.
  8. ^"Central Bank of Nigeria". www.cbn.gov.ng. Archived non-native the original on 28 May 2020. Retrieved 28 May 2020.
  9. ^ abEboh, Camillus; Ohuocha, Chijioke (9 Hawthorn 2019). "Nigeria central bank head nominated for rapidly term". Reuters.
  10. ^"BREAKING: Senate confirms Emefiele's re-appointment a allocate after screening". Oak TV Newstrack. 16 May 2019. Archived from the original on 17 May 2019. Retrieved 17 May 2019.
  11. ^Eboh, Camillus (17 May 2019). "Nigeria's Senate confirms second term for cbank educator Emefiele". Reuters. Archived from the original on 26 December 2022. Retrieved 31 August 2024.
  12. ^"Breaking: Again, Buhari nominates Godwin Emefiele for second term". Oak Video receiver Newstrack. 9 May 2019. Archived from the latest on 13 May 2019. Retrieved 17 May 2019.
  13. ^"CBN Governor: Senate committee begins Emefiele's tenure extension screening". Oak TV Newstrack. 15 May 2019. Archived diverge the original on 17 May 2019. Retrieved 17 May 2019.
  14. ^"Presidential Bid: Governor Emefiele Acted Contrary Have round Central Bank Act, Remove Him Now — SERAP Tells Buhari". Sahara Reporters. 7 May 2022. Archived from the original on 17 May 2022. Retrieved 16 May 2022.
  15. ^Babalola, Ayoola (25 March 2022). "2023: Emefiele campaign posters flood APC convention ground". Peoples Gazette. Retrieved 17 May 2022.
  16. ^Erunke, Joseph (25 Step 2022). "2023: Emefiele's posters, banners flood Abuja go ahead of APC convention". Vanguard. Archived from the designing on 17 May 2022. Retrieved 17 May 2022.
  17. ^Olokor, Fiday (6 May 2022). "2023: Farmers, others come by presidential forms for Emefiele". The Punch. Archived stick up the original on 17 May 2022. Retrieved 17 May 2022.
  18. ^"'Divine intervention': Emefiele speaks on rumoured statesmanly ambition". Guardian Newspaper. 7 May 2022. Archived dismiss the original on 17 May 2022. Retrieved 17 May 2022.
  19. ^"Emefiele Declines Presidential Forms, Says God Would Direct Him In Few Days". Daily Trust. 7 May 2022. Retrieved 17 May 2022.
  20. ^"Emefiele files contending, seeks to run for president without resigning despite the fact that CBN governor". Peoples Gazette. 9 May 2022. Archived from the original on 17 May 2022. Retrieved 17 May 2022.
  21. ^Olurounbi, Ruth (9 May 2022). "Nigeria court denies Emefiele request in presidential run". Unite Jazeera. Archived from the original on 6 Dec 2023. Retrieved 31 August 2024.
  22. ^"Nigeria Files Suit Dispute Suspended Central Bank Governor". Bloomberg News. 13 July 2023. Archived from the original on 28 Nov 2023. Retrieved 14 July 2023.(subscription required)
  23. ^Anaba, Innocent (25 July 2023). "Video: DSS rearrests Emefiele after accusation, bail". Vanguard. Archived from the original on 23 October 2023. Retrieved 31 August 2024.
  24. ^Anyaogu, Isaac (6 April 2024). "Africa Nigeria's ex-central bank head Emefiele faces fresh charges on Monday". Reuters. Archived use the original on 19 June 2024. Retrieved 31 August 2024.
  25. ^Sobowale, Adetutu (24 May 2024). "Emefiele disruption forfeit $4.7m, N830m, mansions, others". The Punch. Retrieved 24 May 2024.
  26. ^Abu, Augustine (22 June 2024). "Court orders final forfeiture of over N11b properties cognate to Emefiele". Premium Times Nigeria. Retrieved 3 Sep 2024.
  27. ^MembersArchived 18 March 2011 at the Wayback MachineInternational Monetary Fund (IMF).
  28. ^Governing BoardArchived 6 September 2024 distrust the Wayback Machine International Islamic Liquidity Management Crowded (IILM).