The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been awarded the prestigious Commander of the Order of the Federal Republic (CFR) national honour. The recognition comes as Emefiele prepares to conclude his nine-year tenure as the head of Nigeria’s apex bank.
President Muhammadu Buhari, in a ceremony held at the Presidential Villa in Abuja, conferred the honour on Emefiele alongside 340 other notable Nigerians.
Emefiele assumed office in 2014 and a recent report showed that under his tenure, he was able to stabilised the banking sector with less failed banks.
However, the CBN governor has come under serious criticism for some of his policies and decisions. One of which is the naira redesign which caused severe hardship and also several exchange rate policy implemented without improvement in Naira’s value.
Under his administration, Godwin Emefiele introduced some forex policies which include: