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Retired CBN Board Members

Dr. Clement Nyong Isong (Late)
Retired as Governor - Served in the CBN from 8/15/1967 To 9/22/1975








Late Chief (Dr.) Clement Nyong Isong was born on April 20, 1920, in Ikot Osong now Ikot Udo Esang of Awa Clan, Onna Local Government in Akwa Ibom State. Young Isong started his primary school at Qua Iboe primary School, in Ikot Udo Esang. He later completed his primary education in 1953 in Oron and later attended the Oron Training Institute, which later became the Methodist Boys High School, Oron. In 1950, he attended the University College, Ibadan, now the University of Ibadan, where he obtained a diploma in Education.
In 1951, he won the Ford Foundation and Rockefeller scholarships to study Economics at the Iowa Wesleyan College, Iowa, USA, where he graduated with a Bachelorís degree, (summa cum Laude) in 1954. In the same year, he was accepted at the prestigious Howard Graduate School of Arts and Sciences, Massachusetts where he obtained his Masters and Doctorate Degrees in Economics. He was employed as an Assistant Economist at the Federal Reserve Bank, New York, but later opted to return to the University of Ibadan, where he lectured in Banking and Economics.
He was employed as an Assistant Economist at the Federal Reserve Bank, New York, but later opted to return to the University of Ibadan, where he lectured in Banking and Economics.

In 1958, as Nigeria prepared for independence Dr. Isong left the University to the newly established Central Bank of Nigeria as Secretary and later, Director of Research in the bank. In 1962, he was appointed to the International Monetary Fund (IMF) in the United States where he served for five years in various capacities, including International Adviser for Africa.

During the Civil War in 1967, his patriotism was put to test as he was invited back to the country and called upon to serve as the Governor of Central Bank where he guided the Bank during the transition from the Nigeria Pound to Naira. He retired from the Bank in 1975 and became the first democratically elected Governor of the erstwhile Cross River state in 1979.

Dr. Isong was conferred with the national honour of the Commander of the Federal Republic (CFR) in 1982.

 


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Central Bank of Nigeria:: Serving Board Members
Board Members

Facts : 7/1/1959
POLICY MAKING ORGAN:The Board of Directors is responsibe for formulating the Monetary/Credit and Exchange rate policy proposals for the approval of the Federal Executive Council and for implementating approved policy guidelines.
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