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Senate approves Emefiele for second term as CBN governor

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Emefiele becomes the first governor of the apex bank to get a two-term mandate since the return to civil rule in 1999.

The Nigerian Senate has confirmed Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN) for a second term, on Thursday.

His confirmation followed a screening by the Senate Committee on Banking, Insurance and Other Financial Institutions on Wednesday, after Senate President Bukola Saraki had given the committee one week to carry out the screening and report back to the upper legislative house.

President Muhammadu Buhari had last week written to the Senate requesting that Emefiele be confirmed as CBN Governor for a second term of five years.

He was appointed as Governor of the apex bank on 2 June, 2014.

To this end, Emefiele’s first tenure as Nigeria’s number one banker ends on 2 June, 2019.

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

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