Buhari Retains Emefiele as CBN Governor

By Modupe Gbadeyanka

Mr Godwin Emefiele will likely remain in office as the Governor of Central Bank of Nigeria (CBN) for another five-year term, Business Post has reliably gathered.

President Muhammadu Buhari has already nominated the Delta State-born former Group Managing Director of Zenith Bank Plc for the position and according to the CBN Act, the CBN Governor must be confirmed by the Senate before his appointment can take effect.

Information available to us indicated that on Wednesday, President Buhari signed a letter indicating his intention to renew the appointment of Mr Emefiele as CBN Governor for another five years.

The letter, we learned, should be read on the floor of the Senate during plenary on Thursday or next Tuesday.

Mr Emefiele was appointed by former President Goodluck Jonathan in June 2014 and was retained when Mr Buhari took over on May 29, 2015 after dislodging Mr Jonathan at the polls over two months’ earlier.

With his nomination, Mr Emefiele becomes the first CBN Governor since 1999 to retain his office.