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Intense Pressure Mounts On CBN Governor To Run For Presidency

Will the Central Bank Governor, Godwin Emefiele join the 2023 presidential race? Or will he ignore the pressure? That is the big question on the lips of many as the rumour mill is agog with the gist that the Ika South, Agbor-born Economist is under intense pressure to run.

Those mounting pressure have their reasons. There are those who feel he is eminently qualified to run. They see his success story at the CBN as what puts him in good stead to run. They feel anyone who can run the CBN for 8 years can manage the affairs of the country.

Emefiele has been Governor since 2014, making him the longest-serving CBN Governor. They feel he has the image and stature that no one can push backwards.

Let's tell you more. Godwin Emefiele is an economist who has been serving as the Governor of the Central Bank of Nigeria since June 4, 2014. He is 61, having been born on August 4, 1961, in Lagos State. Emefiele is originally from Ika South, Agbor region of Delta State.

He attended primary education in Government Primary School, Victoria Island (formerly Ansar-U-Den Primary School, Igbosere), Lagos. He completed his primary education in 1973 and thereafter proceeded to Maryland Comprehensive Secondary School, Ikeja, Lagos, graduating in June 1978 with a West African School Certificate (WASC). Furthermore, Emefiele holds a B.Sc. degree in Finance (1984) and an MBA in Finance (1986), both from the University of Nigeria, Nsukka. He is also an alumnus of Executive Education at Stanford University, Harvard University (2004) and Wharton School of Business (2005). The Central Bank Governor, Mr Godwin Emefiele was conferred with an Honorary Doctorate Degree in Business Administration by the University of Nigeria, Nsukka (UNN).

Early in his career, Emefiele lectured finance and insurance at the University of Nigeria Nsukka, and the University of Port Harcourt, respectively.

Before moving to the Central Bank, Emefiele gained over 18 years of banking experience. He served as Chief Executive Officer and Group Managing Director of Zenith Bank Plc. Emefiele served as Deputy Managing Director of Zenith Bank Plc. from 2001. He served as Executive Director in charge of Corporate Banking, Treasury, financial control and Strategic Planning of Zenith Bank Plc and served on the management team from its inception. Emefiele served as Director at Zenith Bank Plc and Zenith Bank (Gambia) Limited. Emefiele serves as director of ACCION Microfinance Bank Limited.

During his first term which started in 2014, he supervised an Interventionist currency policy at the behest of the Presidency, propping up the Nigerian naira by pumping billions of dollars into the foreign exchange market. He also introduced a multiple exchange rate regime to try to mask pressure on the Naira and avoid a series of devaluations.

In 2019, the Senate approved a second 5-year term for Emefiele. This is the first time that anyone will serve a second term since Nigeria’s return to democracy in 1999. Senator Bukola Saraki read President Buhari’s letter on Thursday, May 9, 2019. He was screened on Wednesday and his confirmation came on Thursday, May 16, 2019.

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