JUST IN: Senate confirms CBN Gov Godwin Emefiele

The Senate of the Federal Republic of Nigeria today approved the reappointment of Mr. Godwin Emefiele as governor of Central Bank of Nigeria (CBN) for a second and final term of five years.

Emefiele was confirmed at about 11.30 am, following the consideration of the report of the Senator Rafiu Ibrahim-led Committee on Banking, Insurance and other Financial Institutions.

The CBN governor was screened yesterday by the Senate Committee on Banking, Insurance and other Financial Institutions.

President Buhari had in a letter to the Senate President, Dr. Bukola Saraki, dated May 8th, 2019, given a notice for the reappointment of Emefiele. The letter entitled “Renewal of the appointment of Godwin I. Emefiele as Governor of Central Bank of Nigeria”, was received in the Office of the Senate President on May 9th, 2019.

The Senate President read the letter on the floor of the Senate. The letter stated: “In view of the expiration of the first tenure of the current Governor of the Central Bank of Nigeria on June 2, 2019, and pursuant to the provisions of Section 8 (1) and (2) of the Central Bank of Nigeria Act 2007, I hereby present for confirmation by the Senate Mr. Godwin I. Emefiele for re-appointment as Governor of the Central Bank of Nigeria for a final term of five (5) years.

“It is my hope that the Distinguished Senate will consider and confirm the nominee in the usual expeditious manner. “Please accept, Mr. Senate President, the assurances of my highest consideration.”