Despite Mixing Politics With Monetary Policy Role, Emefiele Gets Digital Transformation Award

The Governor of the Central Bank of Nigeria,Godwin Emefiele, who had mixed his monetary policy role with politics made attempt to join politics has been named Africa Most Innovative Digital Transformation Governor of the Year Award by Foreign Investment Network (FIN).

The award which had generated criticism was announced by the bank on Sunday.

The award was given at the sidelines of the International Monetary Fund/World Bank Annual Meetings in Washington DC, United States.

CBN tweeted, “CBN Governor, Mr. Godwin Emefiele conferred with Africa Most Innovative Digital Transformation Governor of the Year Award by Foreign Investment Network (FIN), on the sidelines of the ongoing International Monetary Fund/World Bank Annual Meetings in Washington.

“Emefiele invites foreign investors to consider Nigeria and other countries in Africa as their choice investment destination, noting that business confidence in the continent is on the rise.”

The award few months after Emefiele picked the All Progressives Congress N100m presidential nomination and expression of interest form in May.

Then, inflation was 17.71 per cent while food prices was 19.50 per cent.

Currently, inflation has risen to 20.52 per cent in August, while the food component surged to 23.12 per cent.

Emefiele filed a lawsuit on 05 May, to prevent the Independent National Electoral Commission (INEC), and the attorney general of Nigeria, Abubakar Malami, from pressuring him to resign from the bank in order to pursue his presidential ambition.

By CBN laws, prohibits Emefiele from participating in politics.

Section 11 (1) of the CBN Act provides that “a person shall not remain a Governor, Deputy Governor or Director of the Bank if he is – (a) a member of any Federal or Legislative House; or (b) a director, officer or employee of any Bank licensed under the Banks and Other Financial Institutions Act.”

Emefiele has been accused of printing over N22trn for the Federal government through ways and means as of August.

But receiving the award, the CBN quoted the governor as saying, “Today, we talk about the frontier market and what I keep telling people is that as you continue thinking about growth opportunities in the world and you are looking at Africa, naturally you will have to think about some of the big economies in Africa.

“This award is not just for me, it is meant for all of us who have worked hard in the last eight and half years to keep the Nigerian economy strong and going.”