Nigeria’s Senate approves Central Bank governor for second term

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FILE PHOTO: Central Bank Governor Godwin Emefiele speaks during the monthly Monetary Policy Committee meeting in Abuja, Nigeria January 26, 2016. REUTERS/Afolabi Sotunde/File Photo
FILE PHOTO: Central Bank Governor Godwin Emefiele speaks during the monthly Monetary Policy Committee meeting in Abuja, Nigeria. REUTERS/Afolabi Sotunde/File Photoa,

Nigerian Central Bank Governor Godwin Emefiele will serve a second five-year term in office after the Senate unanimously approved his nomination in a vote of support on Thursday.

Emefiele’s current term was set to expire later in May.

Nigerian President Muhammadu Buhari nominated Emefiele for a second term in a letter to the Senate a week ago.

The Senate’s committee report praised Emefiele’s performance in his first term saying that it resulted in Nigeria exiting an economic recession.

Emefiele will be the first central bank governor to serve a second term since Nigeria returned to democratic rule in 1999.

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