UPDATED: Senate begins Emefiele’s confirmation

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Following the reappointment of the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele for another five year-term the Senate on Tuesday began the process of confirmation.

Order Paper marked “Executive Communication” and listed against the Senate Leader, Senator Ahmed Lawan, it reads “Renewal of the appointment of Godwin I. Emefiele as Governor, Central Bank of Nigeria.

The letter read: “In view of the expiration of the first tenure of the current Governor of the Central Bank of Nigeria on June 2, 2019, and pursuant to the provisions of Section 8 (1) and (2) of the Central Bank of Nigeria Act 2007, I hereby present for confirmation by the Senate Mr Godwin I. Emefiele for re-appointment as governor of the Central Bank of Nigeria for a final term of five (5) years.

“It is my hope that the Distinguished Senate will consider and confirm the nominee in the usual expeditious manner.”

Lawan presented the executive communication, which is on item one of the Orders of the Day, to the lawmakers.

“I present the executive communication to the house, that the Senate do consider the request of Mr President C-in-C on the renewal of the appointment of Gowdin I. Emefiele as Governor of the Central Bank of Nigeria in accordance with Section 8(1) and (2) of the CBN Act 2007,” he said.

Central Bank of Nigeria Governor, Godwin I. Emefiele

After it was seconded by Mr Aduda, the senate president referred the executive request to the Senate Committee on Banking and Finance for further legislative action and report back to the House within the week.

 “That the Senate do consider the request of Mr. President C-in-C on the renewal of the appointment of Godwin I. Emefiele as Governor of the Central Bank of Nigeria in accordance with Section 8(1) and (2) of the Central Bank of Nigeria Act 2007.”

Emefiele’s first term in office as CBN governor is expected to expire on June 2, 2019 and the committee chaired by Senator Rafui Adebayo may give accelerated consideration due to the time frame.

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