Friday, 21 February 2014

MD Zenith Bank Replace Sanusi as CBN Governor

Not much is known about the Group Managing Director/Chief Executive Officer, Zenith Bank Plc, Mr. Godwin Emefiele, who has been nominated by President Goodluck Jonathan to succeed Mr. Lamido Sanusi as the Governor of the Central Bank of Nigeria in June.

Emefiele is an economic and finance professional with experience in banking and academics. His calm demeanour bodes well for the role of an economic manager and bank regulator, according to analysts.

His nomination came few hours after the Presidency announced the suspension of Sanusi as the CBN governor, and appointed Mrs. Sarah Alade, a deputy governor at the central bank, as the acting governor. He has over 23 years of banking experience and became the Group Managing Director/Chief Executive Officer on August 1, 2010.

Although it is not clear yet what his policy focus will be if his appointment is confirmed by the Senate, Emefiele’s management style at Zenith Bank suggests that he makes decisions carefully to prevent unnecessary uncertainties and disruptions; something Nigeria needs at this time, according to BGL analysts.

Source: The Punch

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