Godwin Emefiele Biography
Godwin Ifeanyi Emefiele CFR born August 4, 1961, is a Nigerian politician, economist, and banker who served as governor of the Central Bank of Nigeria from June 4, 2014, until his suspension by President Bola Tinubu on June 9, 2023.
Godwin Emefiele Profile
Full Name: Godwin Ifeanyi Emefiele
Gender: Male
Date of birth: 4 August 1961
Age: 62 years (as of 2023)
Zodiac sign: Leo
Place of birth: Lagos, Nigeria
Current residence: Lagos, Nigeria
Nationality: Nigerian
Ethnicity: African
Religion: Christianity
Sexuality: Straight
Height: 6’2″ (187 cm)
Weight: 176 lbs (80 kgs)
Hair color: Black
Eye color: Black
Mother: Alice Emefiele
Siblings: 1
Marital status: Married
Partner: Margaret Emefiele
Children: 2
School: Ansarudin Primary School and Maryland Comprehensive Secondary
University: University of Nigeria Nsukka, Stanford University, Harvard University, and Wharton School of Business
Profession: Politician and banker
Net Worth: $50 million
Godwin Emefiele Early Life and Education
Godwin Emefiele was born on August 4, 1961, in what is now Lagos State, Nigeria.
He is from Agbor, Delta State, Nigeria.
He attended Ansarudin Primary School and Maryland Comprehensive Secondary in Lagos before continuing his education at the University of Nigeria Nsukka (UNN).
In 1984, he graduated with a Bachelor’s Degree in Banking and Finance, ranking among the top students in his class.
Godwin Emefiele’s Career in the private sector
Earlier in his career, Emefiele taught finance and insurance at the University of Nigeria Nsukka and the University of Port Harcourt. He also had a brief stint with Vodafone.
Before joining the Central Bank, he had over eighteen years of financial experience.
He was the CEO and Group Managing Director of Zenith Bank Plc. Since 2001, he has served as Zenith Bank Plc’s deputy managing director.
He was Zenith Bank Plc’s executive director in charge of corporate banking, treasury, financial control, and strategic planning, and he has been a member of the management team since its foundation.
He worked as a director at Zenith Bank Plc and Zenith Bank (Gambia) Limited. He serves as director of ACCION Microfinance Bank Limited.
The Governor of the Central Bank
Emefiele served as governor of the Central Bank of Nigeria from June 4, 2014, until June 9, 2023, when President Bola Tinubu suspended him.
During his first tenure, he oversaw an interventionist currency strategy on behalf of the presidency, propping up the Nigerian naira by pouring billions of dollars into the foreign exchange market.
He also implemented a multiple exchange rate regime to try to disguise pressure on the naira and avert a succession of devaluations.
Emefiele’s second five-year term was authorized by Nigeria’s Senate in 2019.
This was the first time anyone had served a second term since Nigeria’s restoration to democracy in 1999.
Senator Bukola Saraki read President Buhari’s letter on Thursday, May 9, 2019.
He was examined on Wednesday and received confirmation on Thursday, May 16, 2019.
Controversy
In an unprecedented move by any chief of the Nigerian apex bank, Godwin Emefiele ventured into partisan politics against the dictates of the Central Bank Act, which states that the occupant of the governor’s position must remain apolitical and independent at all times to preserve the bank’s nonpartisan posture.
Emefiele sparked widespread outcry in May 2022 when he announced his intention to run against President Muhammadu Buhari in the 2023 presidential election.
What began as a rumor when campaign posters for the bank chief inundated the capital city of Abuja quickly gathered traction when a group of purported rice farmers purchased the All Progressive Congress’ presidential form for CBN Governor.
Emefiele rejected the presidential nomination form and stated his intention not to run in a series of tweets from his verified account.
In a surprising turn of events, Emefiele filed a case in Abuja’s Federal High Court, requesting that the court order the electoral commission and the attorney general’s office not to prevent him from running for president.
The court declined the request but invited the duo to make a formal presentation explaining why Emefiele’s motion should not be granted.
Nigerians and civil society organizations have filed multiple court cases demanding the dismissal of the CBN Governor and accusing him of breaking numerous clauses of the Central Bank Act.
Suspended as Central Bank Governor
President Bola Tinubu removed him as Central Bank Governor with immediate effect on June 9, 2023, according to a statement released by Mr Willie Bassey’s office as Secretary to the Government of the Federation.
The suspension follows an ongoing inquiry into his office as well as proposed reforms in the financial sector of the economy.
Emefiele was directed to take over the affairs of his office to the Deputy Governor (Operations Directorate) Folashodun Adebisi Shonubi, who will operate as the Central Bank Governor until the conclusion of the investigation and the reforms.
Arrests by DSS
On June 10, 2023, the Department of State Services (DSS) reported Emefiele’s arrest at 14:28 WAT via their official Twitter feed.
He was taken in for questioning in connection with the investigation into his office, and a short video footage of him stepping out of an executive Hilux car in a close walk accompanied by DSS police into a waiting private jet went viral in the media.
He was charged in July 2023.
He was re-arrested by the DSS on July 25, 2023, at the Federal High Court in Lagos.
On April 5, 2024, the Economic and Financial Crimes Commission (EFCC) brought additional charges against Godwin Emefiele.
Godwin Emefiele is accused of fraudulent incorrect allocation of foreign exchange over $2 billion. According to the prosecution, the allocation was determined without regard for supporting offers.
Godwin Emefiele committed the acts between 2022 and 2023, the commission said.
Godwin Emefiele Other Activities
International Monetary Fund (IMF), Ex-Officio Member of the Board of Governors (since 2018).
International Islamic Liquidity Management Corporation (IILM): Member of the Governing Board (since 2018)
Who Is Godwin Emefiele?
Godwin Emefiele is a Nigerian economist, politician, and banker who previously served as governor of the Central Bank of Nigeria (CBN).
He was appointed governor of the CBN in June 2014 and served until his suspension by President Bola Tinubu on June 9, 2023.
Godwin Emefiele was the director of Zenith Bank, one of Nigeria’s top financial organizations. He also lectured in finance and insurance at two Nigerian universities.
Where does Godwin Emefiele come from?
The Nigerian politician was born and reared in Lagos State, Nigeria.
What state is Godwin Emefiele from?
He was born in Lagos, but he is originally from Agbor, a town in Delta State, Nigeria. Agbor is an Igbo kingdom located in Delta State’s Ika South area.
What tribe does Godwin Emefiele belong to?
Godwin Emefiele is from Nigeria, and his tribe is Igbo. He is a member of the Igbo ethnic group, one of Nigeria’s largest.
What age is Godwin Emefiele?
Godwin Emefiele will be sixty-two years old in 2023. He was born on August 4, 1961.
When did Godwin Emefiele become the CBN’s governor?
On June 4, 2014, Godwin took over as governor of the Central Bank of Nigeria. As governor of the Central Bank of Nigeria, he has introduced several policies to help stabilize the country’s economy.
On June 9, 2023, President Bola Ahmed Tinubu suspended Godwin. He was suspended due to the continuing inquiry into his office.
He was also accused of violating the Central Bank Act, which requires the governor to maintain a political and neutral stance for the bank to retain its nonpartisan position.
Nigerian prosecutors have indicted him on 20 counts, one of which alleges that he engaged in “conferring unlawful advantages.”
Did the DSS arrest Godwin Emefiele?
On June 10, 2023, the Department of State Services (DSS) formally announced Emefiele’s arrest. He was reportedly detained for questioning on an investigation involving his office. He faced accusations in July 2023 and was detained again by the DSS on July 25, 2023, at the Federal High Court in Lagos.
What is the net worth of Godwin Emefiele?
Godwin has earned a huge wealth throughout the years. According to CityCeleb, his net worth is estimated to be $50 million.
Who is the wife of Godwin Emefiele?
Godwin is married to Margaret Emefiele, and they have two children: Pammichukwu Emefiele Jr. and Andrew Olishehike Emefiele.
What height is Godwin Emefiele?
Godwin Emefiele is 6 feet 2 inches (187 centimeters) tall and weighs 176 pounds (80 kilograms). Emefiele has dark eyes and hair.
