Economic

Nigeria’s apex bank chief re-appointed to serve second term in office


ABUJA, May 16  — The Nigerian Senate on Thursday confirmed the re-appointment of Godwin Emefiele, the country’s central bank governor, for a second term in office.

Emefiele, who was appointed as governor of the Central Bank of Nigeria (CBN) on June 2, 2014, is due to end his first term on June 2, 2019.
President Muhammadu Buhari had, on May 8, written a letter to the Senate on his reappointment of Emefiele for a second term of five years as the apex bank’s governor.
The Senate in their resolution hailed Emefiele for understanding the diverse economy of the country and “for displaying a profound knowledge of the continuous existence of the country’s economic stability, including performing creditably in his first tenure which resulted to the exit of the nation out of its worse economic recession in over two decades.”
The CBN governor also maintained a stable interest rate and ensured effective management of the foreign exchange regime at the time as he initiated and established several policies and programs which have a positive effect on the economy, the Senate adde – XINHUA