The Group Managing Director and Chief Executive Officer, Zenith Bank Plc, Godwin Emefiele has been nominated by President Goodluck Jonathan as the next Central Bank of Nigeria (CBN) Governor with effect from June 2 after the tenure of the Sanusi Lamido Sanusi who was suspended on Thursday runs out.
Jonathan also requested the upper chamber to approve the appointment of Adelabu Adebayo Adekola as Deputy Governor of the apex bank.
The nomination of Emefiele is contained in a letter dated February 19, 2014 entitled: “Appointment of Governor of the Central Bank of Nigeria,” read by the Deputy Senate President, Ike Ekweremadu, who presided over the plenary on Thursday.Jonathan said, “In view of the fact that the tenure of the current Governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, will end on June 1, 2014 and pursuant to the provisions of Section 8(1) and (2) of the CBN Act, 2007, I hereby forward the name of Mr. Godwin I. Emefiele for kind consideration and confirmation by the Senate of the Federal Republic of Nigeria for appointment as Governor of the Central Bank of Nigeria.”
Jonathan prayed the Senate to accord the consideration and confirmation of the nominee its usual expeditious consideration.
For Adekola, currently an Executive Director, First Bank of Nigeria Plc, Jonathan also asked the Senate to consider and confirm him as Deputy Governor of the apex bank as a replacement for Tunde Lemo who retired as CBN Deputy Governor recently.
Emefiele was appointed Zenith Bank boss in August 2010 after the exit of the pioneer chief executive officer, Jim Ovia. Until then, he was the Deputy Managing Director of the bank, having been appointed into that position in 2001.
Emefiele has been on the bank’s management team since inception and has held various management positions in the bank, including serving as the Bank’s Executive Director in charge of Corporate Banking, Treasury, Financial Control and Strategic Planning.
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, & Private Banking. He also had responsibilities for direct supervision of majority of the bank’s branches in Lagos and Northern Nigeria.
Emefiele has over twenty-six years banking experience and holds a B.Sc and an MBA in Finance both from the University of Nigeria Nsukka. Before commencing his banking career, he lectured Finance, Bank Management, and Insurance at the University of Nigeria and University of Port Harcourt respectively.
His nomination proved bookmakers wrong as he had not featured among the list of top contenders for the job.
Those that were touted as possible replacement for Sanusi include the immediate Managing Director, Access Bank Plc, Aigboje Aig-Imhokhuede; the immediate past CBN deputy governor, Lemo, Dr. Sarah Alade and host of others.