CEO Today Africa Awards
49 CEO TODAY AFRICA AWARDS 2020 Nigeria Goodwin Emefiele Governor of the Central Bank of Nigeria (CBN) About Godwin Emefiele Godwin Emefiele is the Governor of the Central Bank of Nigeria (CBN). Prior to his joining the CBN, he spent over 26 years in commercial banking culminating in his tenure as Group Managing Director and Chief Executive Officer of Zenith Bank PLC, one of Nigeria’s largest banks with over 7,000 staff, about US$3.2 billion in shareholders’ funds, and subsidiaries in Ghana, Sierra Leone, Gambia, South Africa, China, and the United Kingdom. Under Emefiele’s leadership, Zenith Bank had strengthened its position as a leading financial institution in Africa, winning recognition and endorsement at home and abroad for giant strides in key performance areas like corporate governance, service delivery and deployment of cutting-edge ICT. Mr. Emefiele holds degrees in Banking and Finance from the University of Nigeria, Nsukka, and is also an alumnus of Stanford University, Harvard and Wharton Graduate Schools of Business where he took courses in Negotiation, Service Excellence, Critical Thinking, Leading Change and Strategy. Firm Profile The mandate of the Central Bank of Nigeria (CBN) is derived from the 1958 Act of Parliament, as amended in 1991, 1993,1997,1998,1999 and 2007. The CBN Act of 2007 of the Federal Republic of Nigeria charges the Bank with the overall control and administration of the monetary and financial sector policies of the Federal Government. The objects of the CBN are as follows: • Ensure monetary and price stability; • Issue legal tender currency in Nigeria; • Maintain external reserves to safeguard the international value of the legal tender currency; • Promote a sound financial system in Nigeria; and • Act as Banker and provide economic and financial advice to the Federal Government. Consequently, the Bank is charged with the responsibility of administering the Banks and Other Financial Institutions (BOFI) Act (1991) as amended, with the sole aim of ensuring high standards of banking practice and financial stability through its surveillance activities, as well as the promotion of an efficient payment system. In addition to its core functions, CBN has over the years performed some major developmental functions, focussed on all the key sectors of the Nigerian economy (financial, agricultural and industrial sectors). Overall, these mandates are carried out by the Bank through its various departments. www.cbn.gov.ng
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