By Andy Chukwwu
The Senate has confirmed the appointment of Godwin Emefiele for a second term as the Central Bank of Nigeria (CBN) by President Muhammadu Buhari at plenary on Thursday.
On May 9, Buhari had sent a letter to the senate informing them of his decision to renew the banker’s tenure.
By the CBN Act, the senate must confirm the nomination before it can take effect.
The Senate’s Committee on Banking, Insurance, and other Financial Institution, led by Senator Rafiu Adebayo (Kwara South) at plenary on Thursday submitted its report on the renewal of Emefiele’s tenure as CBN governor, following its confirmation hearing on Wednesday.
Confirming the renewal, Senate President Bukola Saraki said: “On behalf of the Senate, let me congratulate the Governor of the Central Bank, Mr Godwin Emefiele on the renewal of his appointment.
“We wish him a useful tenure and may he use this opportunity to continue to provide support to ensure that the economy of our country continues to improve and address the important area of ensuring microeconomic stability.”
The committee was dissolved after the renewal.
Emefiele was first appointed in 2014 by former president Goodluck Jonathan and was retained when Buhari came to office in 2015. He would be the first time CBN Governor to get a second term since 1999.