Government

Buhari nominates Emefiele for second term as CBN governor

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President Muhammadu Buhari has nominated Godwin Emefiele for a second term as governor of the Central Bank of Nigeria (CBN).

Emefiele, who has led the apex bank since 2014, will continue on the role for the next five years.

The President sent the letter for his tenure elongation to the Senate on Wednesday.

Since 1999, Emefiele would be the first CBN governor’s to be nominated for two terms.

Before assuming the office of the CBN governor, the 57-year-old banker was the group managing director of Zenith Bank Plc.

Recall that Emefiele managed the country’s economy when the country slipped into its worse recession in 29 years.

The CBN governor was also credited for stabilising the Naira amidst various economic woes.

His steps included introducing a list of items for whose import foreign exchange was made unavailable.

That initial list of 41 items now contains 43 items.

With help from the Bankers Committee, the apex bank also introduced financing initiatives for farmers and small and medium enterprises.

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