Just In: Senate Confirms Emefiele’s Reappointment as CBN Governor

The Senate on Thursday confirmed the nomination of Godwin Emefiele for another five-year term as the governor of the Central Bank of Nigeria (CBN).

The confirmation followed the adoption of the report of the Senate Committee on Banking, Insurance and other Financial Institutions chaired by Senator Rafiu Ibrahim (PDP, Kwara).

President Muhammadu Buhari had last Thursday requested the upper legislative chamber to confirm Emefiele for another term of five years.

Consequently, the Senate on Tuesday mandated the Ibrahim-led committee to screen Emefiele and report back in one week.

The committee met with Emefiele on Wednesday where all members of the panel cleared him for reappointment.

Presenting the report of the committee at Thursday’s plenary, Ibrahim said the committee arrived at the following: “That the nominee has performed credibly in his first tenure; that the nominee has the required experience to be so confirmed.

“That the nominee has over 30 years experience in banking; that the committee found the nominee worthy of being confirmed for another term of five years as CBN governor.”

After his presentation, the Senate resolved into the committee of whole, considered and confirmed Emefiele’s reappointment.

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