Senate reads Buhari’s letter seeking confirmation of Emefiele for second term

President Muhammadu Buhari has sought the approval of the senate in the appointment of Godwin Emefiele for a second term as governor of the Central Bank of Nigeria (CBN.

Buhari’s letter seeking the lawmakers’ confirmation was read during plenary on Thursday.

We had reported that the president nominated Emefiele to remain in office for another five years.

The CBN governor was first appointed in 2014 by former president Goodluck Jonathan and was retained when Buhari came to office in 2015.

By the CBN Act, the senate must confirm the nomination before it can take effect.

This is the first time in Nigeria’s current democratic dispensation that anyone would be nominated to serve two terms as CBN governor.

Some of the policies put in place during his tenure including those aimed at the stability of the naira were introduction of a list of items for whose import foreign exchange was made unavailable as well as a directive to banks to sell forex to customers over the counter for basic travel allowance (BTA), medical and education bills.