Godwin Emefiele Resumes at CBN

Godwin Emefiele, CBN Governor
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Godwin Emefiele, CBN Governor
Godwin Emefiele, CBN Governor

The tenure of former Chief Executive officer and Group Managing Director of Zenith Bank Plc. Mr. Godwin Emefiele as the Governor of Central Bank of Nigeria (CBN) begins on Monday.

Emefiele’s assumption of office follows the expiration Sanusi Lamido Sanusi’s tenure on Saturday31st May. Though he was still seen on duty at Zenith on Friday, some of his personal staff were already being mobilised to Abuja in preparation for his assumption of office as the apex bank’s boss.

During his confirmation hearing before the Senate, Emefiele, said his administration at CBN, will be used to enthusiastically follow a Development Banking Model (DBM). He also promised to work hard to achieve the core mandate of monetary and price stability.

Emefiele told the senators then, that DBM is a model that has been tried and tested in different parts of the world.

“In fact, in some of the frontiers and emerging markets in the world, we have seen development banking used as a tool for achieving economic growth, development and industrialisation,” Emefiele said.

Until he took over as Group Managing Director, Emefiele was directly responsible for all the group’s local subsidiaries, treasury and correspondent banking, and multilateral, conglomerates, and private banking. He also had responsibilities for direct supervision of majority of the bank’s branches in Lagos and Northern Nigeria.

According Wikipedia, Emefiele has over eighteen years of banking experience. He served as Director at Zenith Bank Plc and Zenith Bank (Gambia) Limited. Before commencing his banking career, he lectured Finance and Insurance at the University of Nigeria Nsukka, and University of Port Harcourt, respectively.

He is an alumnus of Executive Education at Stanford University, Harvard University and Wharton Graduate Schools of Business. He obtained a B.Sc degree in 1984 and an MBA degree in Finance in 1986, both from the University of Nigeria, Nsukka.

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