Nigerian Senate Approves Godwin Emefiele as New CBN Governor

The Nigerian Senate on Wednesday unanimously voted to confirm former Zenith Bank boss, Godwin Emefiele as the new Governor of Nigeria’s Central Bank.

In a televised screening, Emefiele scaled through the session after satisfactorily answering questions from the law makers regarding the central’s bank’s finances and his strategies for tackling the challenges facing the Nigerian economy.

The proceedings were almost halted when Senator Kabiru Gaya of Kano state made a motion for the bill to be paused as the matter was still in court.

Gaya told the senate, “the matter is in court. When the CBN Governor was suspended, he went to court and Order 53 (5) bars us from moving ahead on this matter.”

“Why not wait for the court case to be over? That’s my submission sir.”

Senate President David Mark however, quashed the motion, saying the matter in court had no bearing with the proceedings taking place at the senate.

The new Governor is a seasoned banker who led Zenith bank, one of Nigeria’s leading banks, to post pre- tax profits of $100 billion for the first time in Nigeria’s banking history.

He has degrees from Harvard and Oxford Universities as well as the University of Nigeria, Nsukka.

Emefiele replaces former CBN Governor, Sanusi Lamido Sanusi, who was controversially suspended by President Goodluck Jonathan over alleged misappropriation of funds at the central bank.

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