Details have emerged on why President Muhammadu Buhari has asked Senate to confirm the appointment of Mr Godwin Emefiele as Central Bank of Nigeria (CBN) Governor for the second and final term of five years.
A Presidency source told Political Economist that Buhari was impressed with the manner he has navigated through the nation’s economic landscape especially during the recession when the CBN Governor sustained a conservative approach to monetary management rather than dance to the popular tune being played from the gallery by “so called experts”.
President Buhari was also said to be happy with the success recorded by the CBN through the Anchor Borrowers’ scheme which gave a fillip to agriculture.
“One area this government has scored very high is in agriculture and food production, even the fiercest critics acknowledge this. This is possible because Emefiele showed commitment to the scheme and the results are there for everyone to see.
“By retaining Emefiele, Mr. President has also pointed to the direction his government is going during his second term. He is determined to push further and consolidate the gains already made in agriculture. Emefiele understands and interprets the President’s vision hence he has decided to continue to work with him,” the source said.
Before now, there had been intense lobby for the job of CBN Governor as Emefiele’s tenure officially ends next month.
On Thursday, President of the Senate, Dr Bukola Saraki, disclosed the intent of President Buhari while reading the letter at plenary on Thursday.
‘‘In view of the expiration of his first tenure as Governor of the Central Bank of Nigeria (CBN) in June, 2019, and in pursuant to the provision of section 81 (2) of the Central Bank of Nigeria 2007, I hereby present for confirmation of the senate, Mr Godwin I. Emefiele, for re-appointment as the governor of the Central Bank of Nigeria (CBN) for the final term of five years.
‘‘It is my hope that this Distinguished Senate will consider and confirm this nominee in the usual expeditious manner.
‘‘Please accept, Senate President, the assurances of my highest regard,’’ the letter stated.
Godwin Emefiele, who was confirmed governor in June 3, 2014 to serve his current term, is the 11th CBN Governor.