SENATE CONFIRMS EMEFIELE FOR SECOND TERM AS CENTRAL BANK GOVERNOR

It is recalled that, Buhari had written to the Senate on May 9 to inform them of his decision to reappoint  Emefiele, and in the letter, said Emefiele’s first term will expire on June 2 and sought confirmation of his reappointment, pursuant to the provisions of Section 81(2) of the CBN Act 2007.

Penpushing reports that, the Senate thereafter referred the screening of  Emefiele to its committee on Banking, Finance, and other Financial Institutions.

 The Chairman of the Committee, Rafiu Ibrahim (Kwara-PDP), while presenting the report on Thursday said the committee was impressed with Emefiele’s ‘more than 32 years’ experience with outstanding performance’, adding that the  committee recommended confirmation of  Emefiele based on his performance in the first tenure.

“That the nominee understands the diverse economy of the country and has displayed profound knowledge of the continuous existence of our economy stability. That the nominee has performed credibly in his first tenure which resulted to the exit of the nation out of economic recession,” Ibrahim said.