16 May 2019

Nigeria: Senate Confirms Central Bank Governor Emefiele for Another Five Years

Photo: This Day
Central Bank governor Godwin Emefiele.

Abuja — The Senate on Thursday approved the reappointment of Godwin Emefiele as governor of Central Bank of Nigeria, CBN for another five-year tenure.

The confirmation, which was done at 11.30 this morning, followed the consideration of the report of the Senator Rafiu Ibrahim, PDP, Kwara South led Committee on Banking, Insurance and other Financial Institutions.

The report ordinarily would have only been laid for consideration in another legislative day, but the report was laid, considered and approved today.

Recall that Godwin Emefiele, yesterday appeared before the Senate Committee for screening.

It would be recalled that President Muhammadu Buhari had last week written the Senate, intimating the Senators of his reappointment of the governor of CBN, Godwin Emefiele, for another five-year tenure.

President Buhari in a letter to the Senate President, Dr. Bukola Saraki dated May 8th, 2019, said that the reappointment followed the expiration of Emefiele's first tenure.

The letter entitled "Renewal of the appointment of Godwin I. Emefiele as Governor of Central Bank of Nigeria" was received in the Office of the Senate President on May 9th, 2019

The Senate President read the letter on the floor of the Senate.

The letter read: "In view of the expiration of the first tenure of the current Governor of the Central Bank of Nigeria on June 2, 2019, and pursuant to the provisions of Section 8 (1) and (2) of the Central Bank of Nigeria Act 2007, I hereby present for confirmation by the Senate Mr. Godwin I. Emefiele for re-appointment as Governor of the Central Bank of Nigeria for a final term of five (5) years.

"It is my hope that the Distinguished Senate will consider and confirm the nominee in the usual expeditious manner.

"Please accept, Mr. Senate President, the assurances of my highest consideration."

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