Buhari nominates Godwin Emefiele for SECOND TERM as CBN Governor

Governor of Central Bank of Nigeria (CBN), Godwin Emefiele has been nominated for a second term by President Muhammadu Buhari.

Godwin Emefiele first came into office in 2014 when he was appointed by former president Goodluck Jonathan. He remained in office after he was retained when Buhari got sworn-in in 2015.

Buhari is said to be impressed by Emefiele’s defiant stance against multiple calls to devalue the Naira. Also, his restriction on the importation of 40 items from buying foreign exchange was found impressive by the President.

A report from TheCable states that the letter for the tenure renewal was signed by Buhari on Wednesday and has now been sent to the Senate. This has to be confirmed by the Senate before it can take effect.

This is the first time that anyone would be nominated to serve two terms as CBN governor since Nigeria’s return to democratic rule.

57-year-old Emefiele was the group managing director of Zenith Bank Plc before he became CBN governor and was at the helm of affairs when the country slipped into its worse recession in 29 years.

He emerged the best graduating student in 1986 and obtained a Master’s Degree (MBA) in Finance from the University of Nigeria, Nsukka – the same school, where he graduated with a second class upper after studying banking and finance.