Thursday, June 19, 2014

Shake-up in CBN, Emefiele redeploys deputy governors


Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele 

The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, on Wednesday began the reorganisation of the institution with the redeployment of the deputy governors of the bank.
The development was confirmed in a statement issued by Mr. Isaac Okoroafor of the Corporate Communications Department of the CBN.
The statement stated that with the changes, the Deputy Governor, Corporate Services, Alhaji Suleiman Barau, was now in charge of operations, while the incumbent, Dr. Kingsley Moghalu, would oversee the Financial Systems Stability Directorate.
It added that Mr. Adebayo Adelabu, who was in charge of Financial Systems Stability, had now been made the deputy governor, Corporate Services; while Dr. Sarah Alade retains her position as the deputy governor in charge of the Economic Policy Directorate.
The redeployments, according to the statement, will take effect from Monday, June 23, 2014, noting that the individuals were expected to contribute to the bank’s vision of being the model central bank, delivering price and financial system stability and promoting sustainable economic development.
The statement read in part, “In line with his vision of entrenching a more professional and people-focused central bank, the Governor of the CBN, Mr. Godwin Emefiele, has approved the redeployment of deputy governors in the bank.
“With the new changes, Alhaji Suleiman Barau, Deputy Governor, Corporate Services Directorate, is now the Deputy Governor, Operations Directorate.
“Dr. Kingsley Moghalu currently the Deputy Governor, Operations, returns to the Financial Systems Stability Directorate; while Mr. Adebayo Adelabu, who was in charge of Financial Systems Stability, is now the Deputy Governor, Corporate Services. Dr. Sarah Alade retains her position as the Deputy Governor, Economic Policy Directorate.”
Emefiele, had while unveiling his blueprint for the banking sector and the economy, stated that he would create a central bank that is professional, apolitical and people-focused central bank.
He had stated that the bank would be repositioned into an institution that would dissipate its energies into building a resilient financial system that would serve the growth and development needs of the country.
Meanwhile, the CBN on Wednesday unveiled plans to establish a National Credit Scoring System to enhance access to credit.
Emefiele disclosed this while speaking at a seminar on ‘Rebasing of Nigeria’s economy and implication for the Financial Sector Strategy 2020’.
He said since the rebasing of the country’s Gross Domestic Product had revealed the changes in the structure of the economy, there was the need or the bank to make funds available to employment-generating sectors.