Senate screens CBN Gov Emefiele for second term

MPC retains Monetary Policy Rate at 14%

The Senate on Wednesday commenced the screening of Dr. Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN) for a second term.

The CBN governor on Wednesday appeared before the Senate Committee on Banking, Insurance and Other Financial Institutions, where he was grilled on issues about Nigeria’s economy.

The screening exercise followed the order of the Senate President, Bukola Saraki, to the committee at the plenary on Tuesday.

The committee was asked to ensure that the assignment is carried out within a week while they report back to the Senate.

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Emefiele’s ongoing first tenure will expire on June 2, this year following his appointment as CBN Governor on June 2, 2014.

President Muhammadu Buhari had last week wrote the Senate asking the lawmakers to confirm Emefiele as CBN Governor for a second term of five years.

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