Sunset on Emefiele
  • Buhari appoints new Deputy Governor

The days of Godwin Emefiele as governor of the Central Bank of Nigeria (CBN) are becoming numbered. Preparation to re-energize the apex bank in Nigeria, President Muhammadu Buhari has appointed Mrs. Aishah Ahmad, 41-year-old seasoned banker, financial advisor and current Executive Director, Retail/Consumer Banking at Diamond Bank Plc., as Deputy Governor of the CBN.

There are phobia in some quarters that Emefiele is being surrounded by northern deputies to put him under close monitor which could facilitate his easy removal as the Presidency continues re-organization of government towards 2019.

The Presidency, on Thursday, transmitted a letter to the Senate announcing her appointment and seeking her confirmation by the Upper Chamber of the national Assembly.

Femi Adesina, S.A., Media and Publicity to the President, in a statement this Thursday, explained that Ahmad, the creative and versatile top executive, current Chairperson of Women in Management, Business and Public Service, WIMBIZ, replaces Mrs. Sarah Alade, the Kwara State indigene who retired from the apex bank on March 22, 2017.

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 “In accordance with the provisions of Section 8(1) (2) of the Central Bank of Nigeria (Establishment) Act 2007, President Buhari urged the Senate President, Dr. Bukola Saraki, to consider the expeditious confirmation of Mrs. Ahmad, who would then resume work immediately,” the statement said.

Aishah Ahmad, new CBN deputy gov

The statement also said Buhari asked the Senate to confirm the appointment of members of the Monetary Policy Committee of the CBN. They are to replace four members, whose tenure expires at the end of this year. The nominees are: Professor Adeola Festus Adenikinju; Dr Aliyu Rafindadi Sanusi; Dr Robert Chikwendu Asogwa and Dr Asheikh A. Maidugu.

“After Senate clearance, the new members of the Monetary Policy Committee are to resume duties next January,” Adesina added.

There is wide belief by actors in the financial sector that with over 20 years in retail, consumer banking and wealth management, having worked at global financial institutions, including NAL Bank, Stanbic IBTC and Zenith Bank Ahmad, the Niger State indigene, is a perfect fit as Deputy Governor in charge of Financial System Stability, the department that supervises the Nigerian banking and financial system.

“She’s best suited as Deputy Governor in charge of Financial System Stability. Aishah Ahmad is young and sharp and going to the CBN with a lot of experience in consumer and retail banking where she has done excellently well as E.D. at Diamond Bank with over N500 billion naira under management and maintaining performance across over 250 branch locations,” an investment banker was gathered to have said.

On confirmation by the Senate, Ahmad will be assigned a portfolio by the CBN Governor, Godwin Emefiele, who is battling with policies that will stabilize the exchange rate of naira to a dollar, and other policies that would revive investments in Nigeria.