Breaking News: Senate Confirms Emefiele For Second Term As CBN Governor

Dr. Godwin Emefiele has been confirmed by the Senate as Governor of the Central Bank of Nigeria for a second term following his nomination by President Muhammadu Buhari.

President Buhari had written to the Senate on May 9 to inform them of his decision to reappoint Mr Emefiele for a second and final tenure of five years.

The Senate thereafter referred the screening of Mr Emefiele to its committee on Banking, Finance, and other Financial Institutions on Wednesday during which he was grilled in issues affecting Nigeria’s economy.

Presenting the report on Thursday, chairman of the committee, Rafiu Ibrahim (Kwara-PDP), said the committee was impressed with Mr Emefiele’s ‘more than 32 years’ experience with outstanding performance.’

The committee recommended confirmation of Mr Emefiele based on his performance in the first tenure.

“That the nominee understands the diverse economy of the country and has displayed profound knowledge of the continuous existence of our economy stability.

“That the nominee has performed credibly in his first tenure which resulted to the exit of the nation out of economic recession,” Mr Ibrahim said.

His confirmation was put to a voice vote and received a unanimous ‘ayes’ from the senators.

Emefiele, who was appointed as CBN Governor on June 2, 2014, is due to end his first term on June 2, this year.