Published On: Wed, May 15th, 2019

Senate screens Emefiele as CBN Gov for second term

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By Musa Adamu and Ikechukwu Okaforadi

The Senate yesterday referred the reappointment of Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, by President Muhammadu Buhari, for another term of five years.
This development came after the leader of the Senate, Ahmed Lawan, brought the executive communication to the attention of the Senate by way of raising Order.
The move was seconded by Sen. Philip Aduda (PDP-FCT), at a plenary presided over by Senate President Bukola Saraki at the red chamber in Abuja.
President Buhari had, on May 8, written a letter to Dr. Saraki on his reappointment of Emefiele for a second term of five years as CBN governor, following the expiration of his tenure.
The letter read: ”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.”
Lawan had said: ”I present the executive communication to the house, that the Senate do consider the request of Mr. President C-in-C on the renewal of the appointment of Gowdin I. Emefiele as Governor of the Central Bank of Nigeria in accordance with Section 8(1) and (2) of the CBN Act 2007,” he said.
Senate President referred the executive request to the Senate Committee on Banking and Finance for further legislative action and report back to the house in within the week.

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