Tuesday , January 18 2022

Emefiele for second term as CBN gov, Senate Confirms appointment

The Senate has just confirmed Dr. Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN) for a second term.
The confirmation is coming after President Muhammadu Buhari’s anti-corruption administration ignored numerous corruption allegations leveled against him, most recently documented in an audio tape with the apex bank confirmed as authentic.
Emefiele had been screened by the Senate Committee on Banking, Insurance and Other Financial Institutions, on Wednesday during which he was grilled in issues affecting Nigeria’s economy.
The screening exercise came after the mandate given by President of the Senate, Bukola Saraki, to the committee at the plenary on Tuesday. The committee was given one week to carry out the screening and report back to the Senate.
Emefiele, who was appointed as CBN Governor on June 2, 2014, is due to end his first term on June 2, this year.

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President Muhammadu Buhari had last week we it fen to the Senate requesting that Emefiele be confirmed as CBN Governor for a second term of five years.
The confirmation followed the adoption of the report by the committee on the nominee.
The committee, in their report, recommended that, “The nominee understands the diverse economy of the country and has displayed profound knowledge of the continuous existence of our economic stability.
“That the nominee has performed credibly in his first tenure which resulted to the exit of the nation out of economic recession.”
President of the Senate, Bukola Saraki, after the confirmation, said, “We congratulate the Governor on the renewal of his appointment. We wish him a fruitful five years for him to use the opportunity to provide towards ensuring that the economy of our country continues to improve.”

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