Biographical overview
Institute of Technology. • Bradford University UK • Many Honorary Doctorate Degrees from several universities including a recent one from Imo Stale University. • Many Fellowships and memberships of top Professional Bodies in Finance. Banking. Management. Marketing. Etc. Employment History and Job Experience Ogwuma started out his banking career in United Bank for Africa Pie before moving over to Union Bank Pic where he rose to the position of Managing Director/ Chief Executive Officer before retiring in the late 1980s. He used all the expertise at his disposal to tackle the challenges of pervasive bank distress, managing the country's foreign exchange resources and formulating adequate monetary and fiscal policies to reduce inflation, promote growth and development, provide jobs and reduce the country's debt portfolio. Mr Ogwuma for the first time in the country's economic history addressed the issue of distressed banks by liquidating 20 banks over three years in an attempt to sanitise and restore confidence in the country's financial system. He is also presiding over a revitalised finance systems demanding for increased capitalization to protect both depositors and investors. Moreover, the operators of the financial system are more than ever before, under one authority the Central Bank. Institutions such as mortgage banks, community banks and all the development banks are now under the direct supervision of the Central Bank of Nigeria, creating a unity of purpose. Central Bank of Nigeria under Ogwuma planned to divest its retail banking functions to enable it to fully face its increased regulatory responsibilities. Central Bank of Nigeria. now has formulated policies that ensure regular biddings (weekly) at the autonomous foreign exchange market lo facilitate easy and adequate access for foreign exchange. It has also managed the country's foreign trade in such a way as to boost our foreign reserves lo new heights to finance our external obligations including paying for our imports and external debts which are equally managed by Central Bank of Nigeria. National Award Award of Honour by Federal Government of Nigeria as Member of the Federal Republic (MFR). Source Publication: The Igbo Icon
Biographical record
- Title
- Dr
- Surname
- OGWUMA
- First Name
- Paul
- Other Names
- Agbai
- Gender
- Male
- Source of Publication
- NIBC Who's Who (3rd Edition)
- Date of Birth
- April 24, 1932
- Status
- Alive
- State of Origin
- Abayi; Iga: Isiala Ngwa; State of Origin: Abia
- Father's Status
- N/A
- Mother's Status
- N/A
- Marital Status
- Married
- Name of Spouse
- Ann Adanma Nzotta, 1964
- Number of Children (Male)
- Two
- Number of Children ( Female)
- Two
- Profession
- economist, banker, chartered accountant, administrator;
- Working Experience
- Accountant Board of Trade, London, UK, 1966-67; Investigations Accountant/Senior Executive, Management Consultant, Industrial and Commercial Finance Corporation Limited, London, 1967-73; chairman Central Investment Company Limited (a parastatal of defunct East Central State), Enugu, 1974-77; Deputy Commercial Manager/ Commercial Manager/Deputy Asst.gm.Commercial, United Bank for Africa Ltd., Lagos, 1977-79; md/ceo. Union Bank of Nigeria Limited, 1979-90; Governor, Central Bank of Nigeria, 1993-1999; chairman Board of Directors, Nigerian Deposit Insurance Corporation, 1993; mm: National Universities Commission,1975-79; director Nigerian National Supply Company Ltd., Lagos 1975-79; director Nigerian Merchant Bank Ltd., Lagos, 1978-79; ch. Development Finance and investment Company Ltd., 1978-83; mm: Imo State University Council, Okigwe, 1984-87; dir. Lever Brothers Nigeria Ltd., 1986; ch. Aluminium Extrusion Industries Ltd., 1987;mm: Board of Directors, Nigerian Breweries Ltd., 1988; f: Institute of Chartered Accountants, England and Wales; Institute of Chartered Accountants of Nigeria; associate, Institute of Bankers, London,
- Education Level
- Tertiary
- Schools Attended with Dates
- St. Barnabas School, Thie; St. Michael's School, Aba; St. Gregory's School, Mbawsi; New Bethel College, Onitsha; Bradford institute of Technology.-Bradford University, 1959-62.
- Educational Qualification
- OFR, B.Sc, FCA. ACIB
- Have you ever been a member of any political party?
- N/A
- Awards and Honours
- Order of the Federal Republic,1982.
- Outstanding Achievements
- award: Banker of the Year 1988 Award, by Alfa Communications Limited, Lagos
- Hobbies
- lawntennis,squash, reading, golf,swimming
- Official Address
- off: C/oCentral Bankof Nigeria, Samuel Akintola Street, P.M.B. 0187, Garki, Abuja. tel: 09-234* 132, 2342133,2343133-6.
Last Update Fri 03, Feb 2017
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