New CBN governor, Godwin Emefiele redeploys deputy governors

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.

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.