Following the confirmation of the renewal of appointment by the Senate on Thursday of Godwin Emefiele for another five year term as Central Bank of Nigeria, CBN, Governor, this makes him the first CBN to be appointed for a second term since 1999.

Emefiele had been screened by the Senate Committee on Banking, Insurance and Other Financial Institutions, on Wednesday during which he was grilled on issues affecting Nigeria’s economy.

The screening exercise came after the mandate given by the President of the Senate, Bukola Saraki, to the committee at the plenary on Tuesday.

The committee was given one week to carry out the screening and report back to the Senate.

Emefiele, who was appointed as CBN Governor on June 2, 2014, is due to end his first term on June 2, this year, but 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.