Godwin Emefiele has been finally confirmed by the Nigerian Senate as the governor of the Central Bank of Nigeria for a second term

By Anayo Ezugwu

GODWIN Emefiele, governor, Central Bank of Nigeria, CBN, now has cause to smile despite the negative reports that trailed him last week over allegations of missing money at the bank which was intended to stop his confirmation by the Senate. The governor has just been confirmed for a second tenure by the Nigeria Senate.

The Senate’s confirmation today at the plennary followed the screening of the governor on Wednesday by the Senate Committee on Banking, Insurance and Other Financial Institutions.

The committee during the screening praised Emefiele for contributing immensely to the stability of the Nigerian economy, in spite of the recession the country witnessed in 2016.

Senator Rafiu Ibrahim Adebayo, chairman of the committee, while grilling the nominee on the state of Nigeria’s economy, said the re-nomination of Emefiele was an indication that President Muhammadu Buhari recognised the bank’s contribution to the health and stability of the economy.

Realnews had reported how Senator Adebayo, who dismissed recent allegations of fraudulent activities in the CBN through a leaked audio tape, expressed satisfaction with the presentation of Emefiele. He, however, charged the CBN Governor and his team of Board and Monetary Policy Committee members not to be deterred but rather redouble their efforts at ensuring the promotion of a sound and stable economy.

Also commending the CBN Governor on the successful reforms carried out during his first tenure, other senators, who took turns to speak, called for greater improvement in the areas of foreign exchange management, development finance and access to credit among others. They also sought clarification on the issue of foreign exchange windows.

President Buhari last week transmitted a letter to the Senate requesting that Emefiele be confirmed as CBN Governor for a second and final term of five years.

– May 16, 2019 @ 12:37 GMT |