UPDATED: Buhari reappoints CBN governor for another five-year term

Godwin Emefiele, Governor of Central Bank of Nigeria (CBN)
Godwin Emefiele, Governor of Central Bank of Nigeria (CBN)

President Muhammadu Buhari has reappointed the governor of Central Bank of Nigeria, Godwin Emiefele, for a second and final term of five years.

Mr Buhari’s letter seeking the Senate’s approval for his reappointment of Mr Emefiele was read out by the Senate President, Bukola Saraki, at the close of plenary on Thursday.

The president, in the letter, said Mr 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.

He said the CBN governor’s reappointment will be for a second and final tenure of five years.

Mr Buhari said he hoped the request would receive the usual expeditious consideration of the Senate.

Mr Emiefele was appointed by former President Goodluck Jonathan in February 2014, hours after he announced the suspension of his predecessor, Sanusi Lamido, as the CBN governor.

Until to his appointment, Mr Emefiele was the managing director of Zenith Bank.

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