Senate confirms the reappointment of CBN governor, Godwin Emefiele.

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  • Nigerian Senate on Thursday confirmed the re-appointment of Central Bank of Nigeria’s Governor Godwin Emefiele.

Emefiele’s reappointment nomination letter was read during last Thursday plenary by Senate President Abubakar Bukola Saraki. Buhari, in the letter, urged the Senate to consider Emefiele’s reappointment having completed his first term in office.

Emefiele was first appointed by former Nigeria’s President Goodluck Jonathan in 2014 and his first tenure is expected to end in June 2019.

Following the renewal of his appointment for the next five years, the CBN governor will have to balance fighting inflation and propping up the currency against pressure to boost an economy that’s expanding slower than emerging-market peers.