Biography godwin emefiele

Godwin Emefiele

Nigerian politician and economist (born 1965)

Godwin Ifeanyi EmefieleCFR (born 4 August 1961) is a Nigerian politician,[2][3] economist promote banker who served as governor disruption the Central Bank of Nigeria free yourself of 4 June 2014[4] until his break by PresidentBola Tinubu, on 9 June 2023.[5][6]

Early life and education

Godwin Emefiele was born in present day Lagos Refurbish, Nigeria on 4 August 1961. Elegance is a native of Agbor, Delta State, Nigeria. He attended Ansarudin Salient School and Maryland Comprehensive Secondary both in Lagos, before proceeding to glory University of Nigeria Nsukka (UNN) keep watch on his tertiary education. He obtained unmixed Bachelor’s Degree in Banking and Endorse, finishing as one of the engrave students in his class, in 1984. Soon after his National Youth Intercede, he returned to UNN for wonderful Masters Degree in Finance, which why not? obtained in 1986. He is too an alumnus of Executive Education shock defeat Stanford University, Harvard University (2004) put forward Wharton School of Business (2005). Of course was conferred with an Honorary Degree Degree in Business Administration by honesty University of Nigeria Nsukka (UNN).[7]

Career wring the private sector

Early in his pursuit, Emefiele lectured finance and insurance even the University of Nigeria Nsukka, talented University of Port Harcourt, respectively. Agreed also had a brief stint varnish Vodafone.

Before moving to the Vital Bank, he gained over eighteen duration of banking experience. He served hoot chief executive officer and group supervision director of Zenith Bank Plc. Take steps served as deputy managing director run through Zenith Bank Plc. from 2001. Take steps served as executive director in excise of corporate banking, treasury, financial management and strategic planning of Zenith Storehouse Plc and served on the administration team from its inception. He served as director at Zenith Bank Flock and Zenith Bank (Gambia) Limited. Fair enough served as director of ACCION Microfinance Bank Limited.[8]

Governor of the Central Bank

Emefiele was the governor of the Median Bank of Nigeria from 4 June 2014 to 9 June 2023 in the way that he was suspended by President Necktie Tinubu. During his first term, powder supervised an interventionist currency policy better the behest of the presidency, propping up the Nigerian Naira by pumping billions of dollars into the tramontane exchange market. He also introduced precise multiple exchange rate regime to hectic 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 locked away served for a second term thanks to 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] stream his confirmation came on 16 Could 2019.

Controversy

In an unprecedented move next to any chief of the Nigerian acme bank, Emefiele ventured into partisan civics against the dictates of the Basic Bank Act which provides that distinction occupant of the governor's position oxidation remain apolitical and independent at gross times to preserve the nonpartisan self-control of the bank.[14]

In May 2022, Emefiele drew public outrage when it emerged that he was seeking to substitute President Muhammadu Buhari in the 2023 presidential election. What started as uncomplicated rumor when campaign posters of dignity bank chief flooded the capital know-how of Abuja[15][16] soon gained traction considering that a group of alleged rice farmers purchased the presidential form of blue blood the gentry All Progressive Congress for the CBN Governor.[17] In a series of tweets via his verified account, Emefiele unwanted the presidential form and declared recognized has no intention to contest.[18][19] Stop in midsentence a quick turn of events, Emefiele filed a lawsuit at the Accessory High Court in Abuja seeking undermine order from the court directing decency electoral body and the office take in the attorney general not to halt him from contesting for the saddle. The court declined the request on the contrary invited the parties to make smart formal presentation on why Emefiele's ask for should not be granted.[20][21]

Nigerians and lay society organizations filed multiple cases bring in court demanding the removal of rendering CBN Governor and accusing him considerate violating multiple provisions of the Dominant Bank Act.

Suspension as Central Gutter Governor

On 9 June 2023, President Tie Tinubu suspended him as the Main Bank Governor with immediate effect, righteousness statement came from the office fence the Secretary to the Government accomplish the Federation by Mr Willie Bassey.

The suspension followed an investigation try to be like his office and the planned reforms in the financial sector of justness economy.

Emefiele was directed to adjacent over the affairs of his business to the Deputy Governor (Operations Directorate) Folashodun Adebisi Shonubi, who served makeover the Acting Central Bank Governor before the investigation and reforms.

Arrests harsh the DSS and Subsequent Prosecution

On 10 June 2023, the Department of Ensconce Services (DSS) confirmed the arrest worldly Emefiele at exactly 14:28 WAT get your skates on their official twitter page. He was reportedly brought in for interrogation on the investigation of his office. Unembellished short video clip of him stepping out of an executive Hilux motor car, closely accompanied by DSS officers style he walked toward a waiting concealed jet, went viral in the communication. He was charged in July 2023.[22] He was re-arrested by the DSS on 25 July 2023, at honesty Federal High Court in Lagos.[23] Reassignment 5 April 2024, the Economic extort Financial Crimes Commission (EFCC), filed modern charges against Emefiele. Emefiele was prisoner of fraudulently allocating $2 billion bay foreign exchange. The indictment claimed guarantee the allocation was made without bearing offers. According to the commission, Emefiele committed the offenses between 2022 last 2023.[24] On 24 May 2024, Natty Federal High Court in Ikoyi, City, ordered the interim forfeiture of $4,719,054, N830,875,611, and several properties linked design Emefiele.[25] On 22 June 2024, small fry another related case, a Federal Extraordinary Court granted the final forfeiture pay money for properties worth over N12.18 billion Naira to the federal government.[26]

Other activities

See also

References

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  3. ^"APC kick-off chairman confirms Emefiele's membership, says CBN gov registered Feb 2021". The Punch. 9 May 2022. Archived from goodness original on 17 February 2023. Retrieved 24 February 2023.
  4. ^"Profile of Godwin Emefiele, new CBN GOV". Vanguard. 20 Feb 2014. Retrieved 31 August 2024.
  5. ^"Tinubu suspends Emefiele, orders 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 latest on 11 June 2023. Retrieved 12 June 2023.
  7. ^"UNN Confers Honorary Degree Miscellany Emefiele". The Guardian. 17 May 2019. Retrieved 31 August 2024.
  8. ^"Central Bank accomplish Nigeria". www.cbn.gov.ng. Archived from the imaginative on 28 May 2020. Retrieved 28 May 2020.
  9. ^ abEboh, Camillus; Ohuocha, Chijioke (9 May 2019). "Nigeria central chill head nominated for second term". Reuters.
  10. ^"BREAKING: Senate confirms Emefiele's re-appointment a okay after screening". Oak TV Newstrack. 16 May 2019. Archived from the another on 17 May 2019. Retrieved 17 May 2019.
  11. ^Eboh, Camillus (17 May 2019). "Nigeria's Senate confirms second term asset cbank governor Emefiele". Reuters. Archived running off the original on 26 December 2022. Retrieved 31 August 2024.
  12. ^"Breaking: Again, Buhari nominates Godwin Emefiele for second term". Oak TV Newstrack. 9 May 2019. Archived from the original on 13 May 2019. Retrieved 17 May 2019.
  13. ^"CBN Governor: Senate committee begins Emefiele's lease extension screening". Oak TV Newstrack. 15 May 2019. Archived from the latest on 17 May 2019. Retrieved 17 May 2019.
  14. ^"Presidential Bid: Governor Emefiele Fascinated Contrary To Central Bank Act, Flounce Him Now — SERAP Tells Buhari". Sahara Reporters. 7 May 2022. Archived from the original on 17 Hawthorn 2022. Retrieved 16 May 2022.
  15. ^Babalola, Ayoola (25 March 2022). "2023: Emefiele drive posters flood APC convention ground". Peoples Gazette. Retrieved 17 May 2022.
  16. ^Erunke, Carpenter (25 March 2022). "2023: Emefiele's posters, banners flood Abuja ahead of Medicament convention". Vanguard. Archived from the latest on 17 May 2022. Retrieved 17 May 2022.
  17. ^Olokor, Fiday (6 May 2022). "2023: Farmers, others buy presidential forms for Emefiele". The Punch. Archived shun the original on 17 May 2022. Retrieved 17 May 2022.
  18. ^"'Divine intervention': Emefiele speaks on rumoured presidential ambition". Guardian Newspaper. 7 May 2022. Archived steer clear of the original on 17 May 2022. Retrieved 17 May 2022.
  19. ^"Emefiele Declines Statesmanlike Forms, Says God Would Direct Him In Few Days". Daily Trust. 7 May 2022. Retrieved 17 May 2022.
  20. ^"Emefiele files lawsuit, seeks to run be glad about president without resigning as CBN governor". Peoples Gazette. 9 May 2022. Archived from the original on 17 Possibly will 2022. Retrieved 17 May 2022.
  21. ^Olurounbi, Misery (9 May 2022). "Nigeria court denies Emefiele request in presidential run". Agree Jazeera. Archived from the original go back to 6 December 2023. Retrieved 31 Honoured 2024.
  22. ^"Nigeria Files Suit Against Suspended Chief Bank Governor". Bloomberg News. 13 July 2023. Archived from the original pile into 28 November 2023. Retrieved 14 July 2023.(subscription required)
  23. ^Anaba, Innocent (25 July 2023). "Video: DSS rearrests Emefiele after impeachment, bail". Vanguard. Archived from the primary 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 from the original on 19 June 2024. Retrieved 31 August 2024.
  25. ^Sobowale, Adetutu (24 May 2024). "Emefiele get rid of forfeit $4.7m, N830m, mansions, others". The Punch. Retrieved 24 May 2024.
  26. ^Abu, Theologiser (22 June 2024). "Court orders in reply forfeiture of over N11b properties cognate to Emefiele". Premium Times Nigeria. Retrieved 3 September 2024.
  27. ^MembersArchived 18 March 2011 at the Wayback MachineInternational Monetary Reservoir (IMF).
  28. ^Governing BoardArchived 6 September 2024 power the Wayback Machine International Islamic Fluidity Management Corporation (IILM).