Forbes New York gave the Forbes Best of Africa Lifetime Achievement Award to Mr. Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN).
In its letter of award to Emefiele, which was signed by Forbes Media’s president of Customs Solutions Media, Mr. Mark Furlong, the magazine said that it chose to honor the CBN governor because of his great work at the top bank and the way he set new standards. Emefiele also got a Certificate of Distinction from Forbes, which worked with the Foreign Investment Network (FIN) to give it to him.
It also said that Emefiele has been able to regulate Nigerian banks and take far-reaching steps to help stabilize the economy, even though there are problems with the economy around the world.
In part, the letter says, “It gives Forbes Media and the people who make Forbes Best of Africa great pleasure to tell you that you have been nominated for the Forbes Best of Africa Lifetime Achievement Award.
“Many people at Forbes have been interested in your banking career for the past 29 years. During your time as Group Managing Director/Chief Executive Officer at Zenith Bank PLC, one of Nigeria’s biggest banks, you did great things and set new standards.
“It’s not surprising, then, that you have the same “can-do” attitude in your job as governor of CBN. Even though you took over at the CBN in 2014 when the economy was already in the dumps, the naira was weak, the price of oil was going down, and Nigeria’s foreign reserves were at a very low point, you have made a lot of progress in the last three years to save your country’s economic situation.
“In line with your vision to “create a people-centered Central Bank by delivering price and financial system stability and promoting sustainable economic growth,” you have done a lot to restore the independence of the CBN as a policy-making institution, free from outside influence. For example, you have introduced a centralized biometric system of customer identification, which has helped reduce identity theft and impersonation and fight corruption in Nigeria.
“You have also led efforts at the CBN to set a fair exchange rate for the naira against major international currencies, without commercial banks and other players in the foreign exchange market being able to change it.
“Our Awards Committee has approved your nomination for the prestigious Forbes Best of Africa Lifetime Achievement Award. This is because of these and other big things you’ve done in your impressive banking career.
