Central Bank Gov, Godwin Emefiele Changes Directors Roles In Battle To Save Naira Against Dollar

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Central Bank of Nigeria (CBN) Governor Godwin Emefiele has reassigned some of his directors in apparent response to the current foreign exchange (forex) crisis and the need to save the naira.

Under the new dispensation, Dr. Alvan Ikoku becomes Director for the Trade and Exchange Department (TED), a department said to be very critical to the management of the foreign exchange market and requires someone the governor could trust.

Ikoku takes over from Olasukanmi Gbadamosi, who is now Director, Legal Department. Similarly, Edward Adamu was appointed Director of Human Resources while Chizoba Mojekwu who previously held the position, will henceforth oversee the Capacity Development Department and the International Training Institute (ITI) Learning Centre.

The Director of Corporate Communications, Ibrahim Mu’azu, has already been moved to the Strategy Management Department (SMD).

No replacement has been announced but observers expect someone with deep understanding and experience in media management and strategic communications to fill the vacuum.

The exercise, seen by many familiar with the workings of the apex bank as long overdue because of the criticisms against its handling of the ongoing forex crisis, which saw the naira trading close to N400 to dollar before making a marginal rebound.

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