Nigeria’s Central Bank Governor, Godwin Emefiele, prepares to exit


The Central Bank Governor of Nigeria, Africa’s largest economy, Mr. Godwin Emefiele will be leaving the apex bank.

Apparently, Mr. Emefiele has completed his 5-year term in office after he was appointed to head the apex financial regulator in June 2014 by former President Goodluck Jonathan.

While there are rife rumours that he was summarily dismissed from the central bank, the governor has come out to deny the allegations.

Isaac Okorafor, CBN spokesman told local newspapers that “the governor is in his office working. “I don’t know what you’re talking about,” he said while responding to an inquiry the news.

The spokesman added that “In fact, he has functions to attend to tomorrow, one of which is to meet with stakeholders in the cotton value chain on Tuesday, March 5, 2019.”

Nigeria’s is still Africa’s largest economy despite exit from its worst recession in 2017. While its recovery seems fragile, the latest economic data from the official statistics bureau shows that its GDP for the full year of 2018 advanced by 2.4%.

However, sources close to the apex bank hinted that Nigeria could be getting its first female central bank governor as Mrs. Aisha Ahmed, deputy governor of Central Bank of Nigeria, might be appointed to take over from Emefiele after his exit.

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