Published On: Fri, May 10th, 2019

Emefiele: Buhari springs surprise

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Since the twilight of the tenure of the Governor of the Central Bank of Nigeria, Godwin Emefiele’s tenure, tongues have been wangling in certain quarters that the President will not re-appoint him for second term.
Rumors had it that the CBN boss had been officially sacked by the President and that he was being tolerated to complete his term so as not to disgrace him from office.
Some were even specific that a certain top woman banker and one of his deputies, Aisha Ahmad, had been penciled to take over from him.
They were so sure that he would not be reappointed because he was an appointee of former President Goodluck Jonathan.
Others speculated to have been penciled down for the plum job were Professor Soji Adelaja, Mohammed Dikwa, Bismarck Rewane, Umaru Abdul Mutallab, Obadiah Mailafia, Bello Maccido, Adesola Adeduntan and Herbert Wigwe.
But Buhari proved his unpredictability yesterday when he approved Emefiele’s second term of five years in office. Not a few of his critics were shocked by this.
The President, who has been pilloried countless times with the allegations of reserving juicy agencies for his cronies, first retained Emefiele, who was appointed in 2014 by his predecessor when he assumed office in 2015.
Emefiele, who won the Forbes Achievement Award as the 2017 ‘Best of Africa Achievement Award’ evidently deserved to be reappointed based on his performance and his contributions to the Buhari’s
administration’s determination to grow the economy by diversification and encouraging investments into agriculture.
With that award, Emefiele joined eminent personalities likes Aliko Dangote and Bill Delly, Chief of Staff to former President of the United States of America, Hussein Obama in the elite club.
The vigor with which the Emefiele led CBN implemented the Anchor Borrowers’ program, which eventually led to the nation’s self sustenance in rice production, may have endeared him to the President.
The tenacity of the CBN boss during the tumultuous years when the nation’s economy suffered a rude shock as the price of crude dipped at the international market putting pressures on the national reserves and the deployment of his management dexterity that saw Nigeria out of recess must have also counted in his favour.
Above all, Emefiele’s reappointment has proven a point that the President is not clannish as some persons would have us believe.

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