Godwin Emefiele, the governor of the Central Bank of Nigeria, was born in Lagos on August 4, 1961. The 60-years-old is a native of Ika South, Agbor in Delta State.
Although it was once named as Ansar-U-Den Primary School, Igbosere, Emefiele attended Government Primary School in Victoria Island, Lagos.
Emefiele attended Maryland Comprehensive Secondary School in Ikeja after completing his primary education there in 1973. He received his West African School Certificate (WASC) in June 1978.
Emefiele later was admitted to the University of Nigeria, Nsukka, where he earned a B.Sc. in finance and an MBA in finance, respectively, in 1984 and 1986. After that, he gave lectures on insurance and finance at the same institution.
Emefiele also worked as a lecturer at the University of Port Harcourt (UNIPORT).
The CBN governor continued his studies by attending Stanford University, Harvard University, and the Wharton School of Business between 2004 and 2005.
Before being appointed Governor of the Central Bank of Nigeria on June 4, 2014, Godwin worked in commercial banking for more than 20 years. He most recently served as Group Managing Director and Chief Executive Officer of Zenith Bank PLC before being named head of the CBN.
In 2019, Emefiele became the first CBN governor to hold office for a second term since the start of the fourth republic in 1999.
Career As CBN Governor
Godwin Emefiele was appointed governor of the Nigerian Central Bank in 2014, when Goodluck Jonathan was Nigeria’s president.
On the directive of the former president Goodluck Jonathan, Godwin implemented a favorable currency strategy.
By making massive investments in the foreign exchange market, the program sought to support the value of the Nigerian Naira.
Additionally, he implemented a system of various exchange rates to lessen the pressure on the Nigerian Naira and help the economy avoid any kind of depreciation.
Godwin was granted a second five-year term as CBN governor of Nigeria by the Nigerian Senate in 2019.
With the approval, a CBN Governor was appointed to a second five-year term in Nigeria for the first time. since 1999, when democracy was restored in Nigeria.
Following Godwin’s appointment as the new Governor of CBN on May 9, Senator Bukola Saraki read the letter from President Muhammadu Buhari. Godwin underwent a screening on May 15 and received job confirmation on May 16.
Godwin implemented various measures to help the Nigerian economy during his second term as governor of the Central Bank of Nigeria. To support the growing inflow of remittances from the diaspora into Nigeria, the CBN, through Godwin, implemented the naira 4 dollar scheme for diaspora transfer in March 2021.
The policy, which went into effect on December 4th, 2021, permitted the CBN to license any recipients wishing to withdraw or receive money abroad using IMTOs (International Money Transfer Operators). Recipients receive a bonus of 5 Naira for every dollar they receive when they do transactions using these IMTOs.
Depending on which commercial bank the recipient is registered with, the CBN will pay the recipient a 5 Naira incentive through that institution.
According to this program, a significant amount of foreign exchange will enter the nation—up to $2 billion every month—improving the Nigerian economy.
The CBN, through Godwin, implemented many measures to help protect Nigeria’s economy from the effects of the post-COVID-19 crisis in the same year as a result of the COVID-19 crisis.
Godwin took important steps, like restricting bank loans, to significantly aid industries negatively impacted by COVID 19.
The COVID-19 credit facilities were distributed to households and individuals by the CBN through the NIRSAL microfinance institutions. Additionally, the CBN supported banks nationwide with regard to liquidity.
Godwin also introduced the eNaira in November 2021 via the CBN, a locally produced currency that can be used digitally in place of the paper naira.
Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), is married to Margaret Emefiele; the couple has two children.
Sometime in 2016, while traveling from the Benin Airport to Agbor, Delta State, Emefiele’s wife was abducted. Before they managed to escape with her and another passenger in the car, one of her security detail members who attempted to thwart the operation was shot dead.
Before being freed, she was held captive for three days.
Many individuals are unaware of the precise compensation received by the governor of the Central Bank of Nigeria on a monthly or annual basis for his work at the nation’s central bank.
Godwin Emefiele, the governor of the Central Bank of Nigeria, receives a salary of roughly 9 million Naira each month in addition to other enticing bonuses.
Here are Godwin Emefiele’s email addresses: @cbn.gov.ng and @cenbank.org. The CBN governor’s phone number has not been verified online.
Emefiele’s net worth is anticipated to be around $50 million in 2021.