There has been significant interest in CBN governor Godwin Emefiele net worth, salary, and earnings, following his suspension and arrest. Here is what we know in regard.
Godwin Emefiele is a well-known Nigerian politician, economist, and banker. He served as governor of the country’s Central Bank from 4 June 2014 until his recent suspension on 9 June 2023.
Shortly after president Bola Tinubu suspended Emefiele, the country’s security services arrested him. According to Nigeria’s secret police, he is currently being investigated.
Godwin served as the governor of Nigeria’s central bank for nine years.
According to a statement from the Secretary to the Government of the Federation, Emefiele’s suspension “is a result of the current investigation of his office and the planned reforms in the financial sector of the economy.”
Folashodun Adebisi Shonubi, CBN’s deputy governor, immediately took over as acting governor.
In the wake of his arrest, many people are eager to learn about Godwin’s riches, salary, and career achievements.
Godwin Emefiele Net Worth Before Arrest: Career Earning, Salary
While the exact amount of Godwin Emefiele’s net worth has not been made public, there is a controversy regarding his fortune.
Some online sources claim that the economist’s fortune is $2 million. Others have reported that he has amassed a whopping $50 million.
Regardless, central bank governors of any country are one of the top government officials who are key players in the country’s economy. Given their statutory and constitutional duties, governors are paid well by the government.
Godwin Emefiele worked as the CBN governor for nearly a decade, so he must have pocketed a hefty sum. In addition, the 62-year-old has extensive experience working in public and private sectors.
Moreover, Emefiele and Jim Ovia reported co-own 50,000 bearer shares in the offshore firm Vitesse Asset Management SA, established in Switzerland in 2007.
According to a report published on 7 November 2017 by Premium Times, the former CBN governor is a shareholder in at least three companies.
As per a report on his business endeavors, the Lagos-born economist has stock in Oviation Asset Management Limited, a Bermuda-based business that was founded in 2009.
Furthermore, Godwin is claimed to own 49% of the shares of the company. He reportedly controls 100% of the shares of Ovation Limited, an Isle of Man-based company founded in 2012.
Godwin Emefiele Career And Achievement
Nigerian politician Godwin Emefiele was born in Lagos State Nigeria and is a native of Agbor Delta State.
Emefiele ventured into the public sector after being appointed as a CBN’s governor in June 2014. He succeeded Sanusi Lamido Sanusi to become the 11th governor of the central bank of Nigeria.
Before that, the economist served as a professor of finance at the University of Nigeria Nsukka and a professor of insurance at the University of Port Harcourt.
He might have contributed to bringing positive changes in Nigeria’s economy and accomplished considerable things during his long tenure.
However, analysts stated that Godwin’s sudden suspension was not a surprise considering some of the controversial policies he introduced in the past few months.
Abiola Gbemisola, a Lagos-based financial expert, said one of those policies was the bank’s currency swap program and its choice to continuously produce and lend money to the Nigerian government.
Gbemisola added that by giving money to the federal government and printing money to give loans, Godwin contributed to Nigeria’s high inflation instead of focusing on lowering it.
The expert stated Nigeria’s economy suffered from currency depreciation brought on by the foreign exchange crisis and a rising inflation rate that peaked in April that was near a two-decade high (22.2%).