CBN: Senate confirms Emefiele for second term

CBN asks importers to trade with yuan instead of dollar 
CBN Governor, Godwin Emefiele. PHOTO: DailyPost

Nigeria’s upper legislative chamber, the Senate has confirmed Godwin Emefiele for a second term as Governor of the Central Bank of Nigeria (CBN).

The Senate confirmed Emefiele’s second-term reappointment by President Muhammadu Buhari at plenary on Thursday.

Buhari had sent a letter to the Senate one week ago, informing of his decision to renew the tenure of the apex bank’s chief.

The leadership of the red chamber had mandated its Committee on Banking, Insurance, and Other Financial Institutions to screen Emefiele and make necessary recommendations.

The committee was led by Rafiu Adebayo, Senator representing Kwara south.

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 macroeconomic stability.”

Emefiele was first appointed in 2014 by former President Goodluck Jonathan.

He is the first CBN Governor to get a second term in 20 years.