Meet 4 CBN Deputy Governors Who May Succeed Godwin Emefiele

CBN deputy govs: Edward Adamu, Aisha Ahmad, Kingsley Obiora and Folashodun Adebisi Shonubi in position for succession Credit: CBN Source: UGC
  • Ex-President Muhammadu Buhari re-nominated two deputy governors of CBN for a second term.
  • Edward Adamu and Aisha Ahmed had served out their first terms as CBN’s deputy governors since their appointment in 2018.
  • But there are other deputy governors in pole position to take over from the incumbent Governor of the CBN

On Tuesday, December 6, 2022, Former President Muhammadu Buhari asked the Senate to confirm Edward Adamu’s nomination and Aisha Ahmed’s reappointment as Central of Nigeria’s (CBN) deputy governor.

The request for the re-appointment of the duo will be for the second and the last term for them.

CBN deputy govs: Edward Adamu, Aisha Ahmad, Kingsley Obiora and Folashodun Adebisi Shonubi in position for succession Credit: CBN
Source: UGC

Buhari reappoints two CBN deputy governors

TheCable reports that in 2018 Buhari approved Adamu’s appointment as the apex bank’s deputy governor. He became director of human resources in 2016, from where he was nominated for the current position of deputy governor.

Aisha Ahmed was first nominated for the position of deputy governor in 2017. While the position of CBN governor becomes vacant after two terms of serving as head of the apex bank, the governor is usually chosen from top bankers outside the CBN.

The suspended CBN governor, Emefiele, was the Managing Director of Zenith Bank, from where former President Goodluck Jonathan appointed him on March 3, 2014.

Emefiele was well into his second and final term as head of Nigeria’s apex bank before his suspension by President Bola Tinubu on Friday, June 9, 2023.

Emefiele’s sack did not surprise many, as experts have predicted that Tinubu will not let him serve out his two terms.

A CBN board of directors lists other governors, men, and women who serve on the bank’s board as deputy governors who can succeed Emefiele

Top deputy governors of CBN

Aishah N, Ahmad

Aisha Ahmed was appointed to the board of CBN on March 2018 as the bank’s deputy governor as head of Financial System Stability.

She is responsible for leading the bank’s effort to promote a sound financial system in Nigeria. She is a member of the governing board.

She was the Executive Director of Retail Banking at Diamond Bank and had 22 years of experience. In addition, she worked at NAL Bank, Zenith Bank and Stanbic IBTC Bank.

Edward L. Adamu

Edward Adamu became Deputy Governor of CBN on March 2018.

According to the CBN, Adamu graduated from Ahmadu Bello University, Zaria, in 1981, obtaining a Bachelor of Science (BSc.) Honours degree in Quantity Surveying with Second Class Upper Division.

He also received Post-graduate certifications in Project & Programme Management, Strategy Management, Credit Administration, Knowledge Management and Human Resource Management.

He is currently heading the Corporate Services Directorate of the Bank. Folashodun Adebisi Shonubi is CBN’s Deputy Governor of the Operations Directorate and holds a double Masters’s Degree in Business Administration and Mechanical Engineering from the University of Lagos.

Before he was appointed CBN’s Deputy Governor, Shonubi was Managing Directo/CEO of the Nigeria Interbank Settlement System for six years.

He was also Executive Director, Information Technology and Operations at Union Bank of Nigeria and a Member of Union Homes, and director, Information Technology and Corporate Services at Renaissance Securities Nigeria Limited, responsible for the Group’s IT infrastructure in Africa.

He worked in MBC International as Deputy General Manager and headed the IT operational platforms. He served in FCMB as Vice President and Ecobank as Executive Director. He had a stint at Citibank Nigerian as Hrad of Treasury Operations from 1990 to 1999.

Between 1999 and 2007, he worked at MBC International as Deputy General Manager and supervised their IT operational platforms.

In addition, he served in First City Monument Bank Limited as Vice President and Ecobank Nigeria Limited as Executive Director.

Kingsley Obiora

Kingsley Obiora started as Deputy Governor of the CBN on March 2, 2020. He worked as Alternate Executive Director at International Monetary Fund (IMF) in Washington.

Among his numerous achievements, Obiora served as Special Adviser on Economic Matters to the Governor of CBN. He contributed to the policy work of the bank.

He brought extensive domestic and international economic experiences to help the bank deal with external shocks from significant drops in global oil prices.

He has a first degree from the University of Benin and his Masters and Doctorate degrees in Economics from the University of Ibadan.