Godwin Emefiele Confronts the Challenge of Presidency, by Basil Okoh

Basil Okoh

Godwin Ifeanyi Emefiele’s life took a new turn on 4 June 2014, the day he stepped into the arcane grounds of the Central Bank of Nigeria Abuja in 2013. That day he took upon himself the charge of managing Nigeria’s monetary policies and commonwealth.

Before that date, Godwin Emefiele had been managing men and women, more than 11000 of them, as Managing Director of Zenith Bank, the new and emergent financial powerhouse of the Nigerian economy.

Coming from a Commercial banking background, Emefiele at the CBN was in a new working environment without the familiar drive for profit in the midst of strong competition. CBN has no business rivalry and no serious profit motive to drive a man who had honed his instincts of competition as the leader of major banking business in Nigeria.

So Emefiele had to take on the challenges of redirecting his knowledge, energy and specialities to development economics and create relevance for himself and the national institution that he now leads and successfully, he is making the Central Bank play the central and pivotal role of guiding Nigeria’s economy out of its laggard growth and development.

But that move to the development of the economy was a risky and tricky move for Godwin. The challenge that bedevils the development of Nigeria is a deep sinkhole that rivals the Bermuda Triangle and it has swallowed many good men before him. So it was a role that Emefiele didn’t have to play and a slippery road he didn’t have to travel. But he took the role and travelled the road.

Travel he did as he moved around the nation channelling funds and motivating persons, investors, institutions and entire business sectors to the development of agriculture, food and fibre processing and the development of production value chains across industrial sectors.

In local production of rice, sugar and many other crops, Emefiele took determined action to increase local production while also taking steps to staunch the bleeding currency market and the subsequent slide in the value of the naira. He has worked to increase local production and reduce the import of basic food and agricultural goods that can lend their selves to increased local production.

These are not enough to stave off a bleeding and rundown economy but then Emefiele is not the manager of the Nigerian economy but the custodian of only its monetary policies. To take on the entire gamut of the Nigerian economy and redirect gummed and derelict habits and destructive practices, Emefiele needs higher powers and authority to deal a progressive and productive hand on the Nigerian economy.

And that is the opportunity that the opening of the president's office in 2023 provides for Godwin Emefiele, a chance to be the deft hand to guide Nigeria out of the self-inflicted economic freefall and debt peonage that threaten to end the national project. The presidential office provides the chance for Emefiele the professional to put his training and experience to work assiduously for the common good of his compatriots.

For those who argue that Godwin Emefiele does not have the political sagacity or networking experience to convince the Nigerian people and win elections, perhaps it is time for the good men to troop out and seize the moment and argue that the times require fewer politics and more economics, less talk and more work and that it is people like Godwin Emefiele who come with the capacity to lead us out of this enduring pain and want.

It will be tame to argue who has better networking experience, the politician who ballyhoos the voters once every four years or the chief executive who has led 11000 men to success and profit. Or compare with the CBN governor who deals every day with the Federal executive, state Governor and politicians across Nigeria and investors and technocrats from across the world. What's the purpose of networking if not for business?

It is not for Emefiele to blow his own horns but for patriots of this land to seize the chance and demand his leadership at this critical time. The critical mass for the revival and renewal of Nigeria has to be built around Godwin Emefiele and all other good men and women in the coming elections to save the Nigerian project from the atrophy and rot that envelop us.

Nigeria has been on the brink for so many years and we must not expect the people who led us to this sorry past to graciously lead us out of it. The core politicians cannot find a way out for themselves and neither can they fashion an escape for us. We need the guiding hands of the man who has the knowledge of the economy and the gravitas to lead.

Godwin Ifeanyi Emefiele has both.

"Disclaimer: The views and opinions expressed here are those of the author, Basil Okoh and do not necessarily reflect the official policy or position of Legit.ng."

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Source: Legit.ng