central bank of Nigeria (CBN) Governors and History

Present and Past Central Bank of Nigeria (CBN) Governors (2018)

The Central Bank of Nigeria (CBN) is run by a Governor who oversees all the affairs within the organization. In this article you’ll discover the name of the present CBN governor. In addition, we’ll take you through the timeline of all the past CBN governors.

The CBN is the apex monetary authority in Nigeria, established by the CBN act of 1958. In other words, it was set up to oversee all monetary affairs in the country.

Hence all the commercial, merchant, and Non-Interest banks in Nigeria are answerable to the CBN.

The CBN began operation on the 1st of July 1951. And within that same period its first Governor was appointed.

But before we go into that, let’s talk about the most important — which is the present.

Who is the present CBN governor?

Presently, the Governor of the Central Bank of Nigeria (CBN) is Godwin Emefiele. He resumed office on June 3, 2014. But before then, he was the Chief Executive Officer (CEO) of Zenith Bank.

Timeline of past and present CBN Governors

Governor Tenure duration
Roy Pentelow Fenton 24 July 1958 – 24 July 1963   
Aliyu Mai-Bornu 25 July 1963 – 22 June 1967
Clement Nyong Isong 15 August 1967 – 22 September 1975  
Adamu Ciroma 24 September 1975 – 28 June 1977  
Ola Vincent 28 June 1977 – 28 June 1982
Abdulkadir Ahmed 28 June 1982 – 30 September 1993  
Paul Agbai Ogwuma 1 October 1993 – 29 May 1999  
Joseph Oladele Sanusi 29 May 1999 – 29 May 2004  
Charles Chukwuma Soludo 29 May 2004 – 29 May 2009  
Sanusi Lamido Aminu Sanusi 3 June 2009 – 20 February 2014
Sarah Alade 20 February 2014 – 3 June 2014  
Godwin Emefiele 3 June 2014 – till present

Now let’s talk about each of them.

Roy pentelow Fenton

Roy Pentelow Fenton was officially the first CBN governor, and held that possition for exactly 5 years — from 24 July 1958 to 24 July 1963.

Aliyu Mai-Bornu

During the commencement of operations of the CBN in 1959, he was appointed Assistant Secretary. He received several promotions up the rank until in 1962, when he appointed Deputy Governor. Shortly after, he was appointed governor — in 1963 precisely.

His tenure lasted from 25 July 1963 to 22 June 1967.

Clement Nyong Isong

In August 1967 the then head of state, Yakubu Gowon, appointed Clement Nyong Isong to be governor of the CBN. He held that position successfully from 15 August 1967 to 22 September 1975; and during his tenure the CBN was able to boast a lot of proud achievements.

Adamu Ciroma

Adamu Ciroma was also opportune to hold this highly coveted position for a brief spell, which lasted from 24th September 1975 to 28th June 1977.

Ola Vincent

Olatunde Olabode Vincent also held this position 28 June 1977 – 28 June 1982. He was a formerly a banker and an economist. Aside from that, he previously held the position of Deputy CBN governor before he was appointed to hold the highest seat in the financial powerhouse.

Abdulkadir Ahmed

He was a Nigerian businessman and civil servant who at some point was also appointed to head the CBN. In summary, he held that position from 28 June 1982 to 30 September 1993.

Paul Agbai Ogwuma

Dr. Paul Agbai Ogwuma was appointed to head the Central Bank of Nigeria between 1993 and 1999, during the regime of the late former head of state, General Sani Abacha. However, his tenure extended into the reign of Gen. Abdulsalami Abubakar.

In brief, his tenure lasted from 1 October 1993 to 29 May 1999.

Joseph Oladele Sanusi

Chief (Dr.) Joseph Oladele Sanusi was also appointed to govern the CBN from May 1999 to May 2004. Prior to his appointment, he worked as an Accountant in England, and then with the Board of Customs and Excise in Nigeria.

He joined the CBN in 1966, but then he held the position of Deputy Manager. Afterwards, he was appointed overall head, and his tenure lasted from 29 May 1999 to 29 May 2004.

Sanusi Lamido Aminu Sanusi

He is popularly known for his current monarchial position — the emir of Kano. However, before then he was a banker and was also the former CBN governor. He held that position from 3rd June 2009 to 20th February 2014.

Sarah Alade

In our list Sarah Alade had the shortest stint in this highly covet position, lasting barely 3 months and a few days in office. Regardless, she remains part and parcel of the history of this great financial institution.

To be precise, she held the position from 20 February 2014 to 3 June 2014 — and, thereafter, was succeeded by Godwin Emefiele.

Godwin Emefiele

As stated in the introductory part of this piece, Godwin Emefiele is the present CBN governor. He was sworn in on the 3rd of June 2014 and has held that position ever since.

Prior to his appointment, he served as Chief Executive officer and Group Managing Director of Zenith Bank Plc.

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