Why Aisha Ahmad May Replace Godwin Emefiele As CBN Governor

March 5, 2019

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CBN governor, Godwin Emefiele may go on 3-month terminal leave before his tenure expires in June 2019.

Aisha Mohammed, Ahmed Kuru likely to replace Godwin Emefiele as CBN Governor.

Emefiele may go on 3-month terminal leave before his tenure expires in June 2019.
Godwin Emefiele-led CBN has consistently retained the key lending rate at 14% to curb inflation and defend the local currency, Naira.

Ahmed Kuru, the managing director of the Asset Management Company of Nigeria and Aisha Ahmed, deputy governor of Central Bank of Nigeria (CBN) are among top candidates penned down to replace Godwin Emefiele as CBN governor.

According to a report by Reuters, sources at the apex bank said the current CBN governor, Godwin Emefiele may go on 3-month terminal leave before his tenure expires in June 2019.

The Central Bank Of Nigeria (CBN) said Emefiele is still in the office performing his role as head of the monetary institution. The officials declined further comment, according to Reuters.

Who is Ahmed Kuru?

Mr Ahmed Kuru, CEO AMCON
Ahmed Kuru is the head of Nigeria’s state-backed “bad bank” AMCON who led the sale of some of the country’s nationalised banks such as Keystone bank, Afribank, Spring bank.

Appointed by President Muhammadu Buhari in 2015, Kuru-led AMCON is currently in the process of selling Polaris Bank (formerly Skye Bank Plc).

Formerly the Group Managing Director and Chief Executive Officer of the defunct Enterprise Bank Limited.

He started his banking career with the old Habib Bank in 1985 and rose through the ranks to become an Executive Director of Bank PHB (now Keystone Bank) in 2005.

Kuru is respected in the banking industry, as a result-oriented and deft leader with a strong record.

Who is Aisha Ahmad?

Aisha Ahmad Sabon mataimakin gwamnan bankin kasa da Shugaba Buhari ya Nada
Aisha Ahmad Sabon mataimakin gwamnan bankin kasa da Shugaba Buhari ya Nada
While Aisha Ahmad is an Accountant, financial manager and analyst by profession who was appointed to replace the retired Sarah Alade as deputy governor of the apex bank last year.

The 42-year-old Niger-born financial expert has experienced across Diamond Bank, Stanbic Bank and Zenith Bank Plc.

In a similar report by Daily Sun newspaper, other prominent bankers tipped for the job include Professor Soji Adelaja, an economist; Mohammed Kyari Dikwa, a holder of PhD in Accounting and Finance, whose success in coordinating the TSA and the blockage of billions for the government; Bismarck Rewane, a financial analyst and the Managing Director of Financial Derivatives Company; Umaru Abdul Mutallab, former CEO of UBA and ex-Chairman of First Bank of Nigeria and Obadiah Mailafia, a former CBN deputy governor in charge of monetary policy, foreign exchange operations, investment management.

The rest are top bankers with tier-1 banks, Bello Maccido, the Chairman of FBN Merchant Bank; Adesola Adeduntan, MD/CEO, First Bank of Nigeria Limited and Herbert Wigwe, GMD/CEO, Access Bank Plc.

In more than two years, Godwin Emefiele-led CBN has consistently retained the key lending rate at 14% to curb inflation and defend the local currency, Naira. The 2016 economic crisis led the country to devalue its currency and introduced multiple exchange regime in the FX market.

Analysts have predicted that his exit may see the Naira climbing as low as N400 to the dollar if swift action is not taking by the present government.

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