Senate Banking Committee Clears Emefiele For Second Term

Senate Banking Committee Clears Emefiele For Second Term

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Post Views: 202 The Senate Committee on Banking, Insurance and Other Financial Institutions, on Wednesday, cleared Godwin Emefiele for reappointment a...

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The Senate Committee on Banking, Insurance and Other Financial Institutions, on Wednesday, cleared Godwin Emefiele for reappointment as Governor of the Central Bank of Nigeria (CBN), following his nomination by President Muhammadu Buhari via a letter on Thursday last week.
Emefiele had spent about 20 minutes on his account of stewardship as CBN Governor from June 2014 to date, noting that despite initial challenges, the apex bank under him has been able to stabilize the Nigerian economy.
Emefiele said the CBN will continue doing its best, even as he warned that “the road ahead is still very tough.”
He said Nigeria has workable policies but “implementation has been neglected because we see sabotaged activities.”
“CBN will ensure that those who seek to undermine the policies of Nigeria will be brought to book. Pray for us because the road ahead is tough.
“On Agriculture, the credit should go to the President. It was what he said ‘eat what we produce’, that birth the anchor borrowers programme.
“We have started looking at Palm oil. The price of a barrel of palm oil is more than a barrel of crude oil. We will grow that market again. After palm oil, we will focus on cocoa in the south-west.”
Responding, the committee chairman, Senator Rafiu Ibrahim, said the recent allegations against the CBN Governor were only targeted at “bringing you down because you are a good person.
“I do not have any question for the Governor. I am overwhelmed. I wish you well and pray for you. May God continue to guide you.
“Now, we know the reason why there are some videos on social media because in Nigeria, once you are a good person, some people will always try to bring you down. We will expeditiously take a report to the chamber for consideration. You can take a bow.
The chairman said he had no question and allowed other members of the committee to ask questions and make comments, following which Sen Sam Anyanwu (PDP, Imo)also had any question, but only to “wish you well.”
Also, Sen Philip Aruwa Gyunka (PDP, Nasarawa), said as someone who came from the banking sector, he was pleased with what Emefiele has done in the last five years.
“I pray that you succeed in your second term because you’ve really done well,” Gyunka said.

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