Zenith Bank, Nigeria, has named long-serving Peter Olisamedua Amangbo as new Chief Executive Officer (CEO) after its current head, Mr Godwin Emefiele, was confirmed as the next governor of the Central Bank of Nigeria.
Olisamedua Amangbo was, until this appointment, an Executive Director, who has been with the bank for more than 21 years.
He will become the CEO with effect from June 11,the bank said in a Nigerian Stock Exchange filing.
Outgoing Zenith chief, Godwin Emefiele, was appointed last month to replace suspended central bank governor, Lamido Sanusi. His appointment was confirmed by Nigeria’s Senate last week.
Emefiele’s appointment will take effect from June 1, 2014. Industry experts believe that on grounds of suitability for the post, there were no grounds for the Senate to take any other decision on Emefiele.
The new governor-designate endorsed the CBN’s exchange-rate policy and warned of the negative impact of devaluation on the import-dependent economy.