The President of the Senate, Dr. Abubakar Bukola Saraki, on Thursday, read a letter from President Muhammadu Buhari, reappointing Godwin Emefiele Governor of the Central Bank of Nigeria (CBN), for a second term against expectation in certain quarters.
In the past few months, the rumour mill has been abuzz with the likely appointment of a replacement for Emefiele, a University of Nigeria Nsakka graduate of Finance and former Group Managing of Zenith Bank Plc, whose successor at the top flight commercial bank, incidentally, retires this month end after completing a single five-year term.
Emefiele, therefore, becomes the first holder of the position to secure a second-term reappointment since the return to democracy 20 years ago for the fourth republic on May 29, 1999.
The then President Olusegun Obasanjo had named Chief Joseph Sanusi CBN Governor, immediately he was sworn into office; and was replaced by Prof Charles Chukwuma Soludo, his Chief Economic Adviser, when the President was re-elected for the second term in 2004. Soludo was replaced by Sanusi Lamido Sanusi, who is now Emir of Kano, by then President Umar Musa Yar’Adua and afterward, Emefiele.
The President’s letter was read at the close of plenary on Thursday, wherein he noted that Emefiele’s first term expires on June 2, following which he sought confirmation of his reappointment for a second and final term, pursuant to the provisions of Section 81 (2) of the CBN Act 2007.