The Nigerian Senate has confirmed the nomination of Godwin Emefiele as the Governor of the Central Bank.

President Muhammadu Buhari, in a letter to the Senate, had nominated Emefiele for a second term in office as the CBN governor.

Buhari and Emefiele Buhari and Emefiele

Senate President Bukola Saraki referred the letter to the Committee on Banking to report back in one week.

Emefiele appeared before the Committee, chaired by Senator Rafiu Ibrahim, on Wednesday, May 15, 2019.

Presenting its report at plenary on Thursday, May 16, 2019, the chairman said Emefiele had performed well in his first term as governor of the apex bank.

"The nominee understands the diverse economy of the country and has displayed profound knowledge of the continuous existence of our economy's stability," he said.

"The nominee has performed credibly in his first tenure which resulted to the exit of the nation out of economic recession."

Senate President, Bukola Saraki Senate President, Bukola Saraki

While congratulating Emefiele on his reappointment, Saraki urged him to initiate and implement policies that would lead to improvement in the economy.