https://www.polity.org.za
Deepening Democracy through Access to Information
Home / News / All News RSS ← Back
Close

Email this article

separate emails by commas, maximum limit of 4 addresses

Verification Image. Please refresh the page if you cannot see this image.

Sponsored by

Close

Article Enquiry

Nigerian central bank head Emefiele to serve second five-year term

Verification Image. Please refresh the page if you cannot see this image.
Close

Embed Video

Nigerian central bank head Emefiele to serve second five-year term

16th May 2019

By: Reuters

SAVE THIS ARTICLE      EMAIL THIS ARTICLE

Font size: -+

Nigerian Central Bank Governor Godwin Emefiele was approved for a second five-year term in office on Thursday, when he won a unanimous vote of support in the Senate, parliament's upper house.

During his first term, Emefiele, who has backed a strong local currency, pumped billions of dollars into the foreign exchange market to support the value of the naira.

Advertisement

President Muhammadu Buhari, whose office favours a strong naira, nominated Emefiele for a second term in a letter to the senate on May 9. His term was due to expire this month.

"The nominee has performed credibly in his first tenure which resulted in the exit of the nation out of economic recession," the Senate's committee report said in recommending approval for Emefiele's nomination.

Advertisement

Emefiele also introduced a multiple exchange rate regime to try to mask pressure on the naira and avoid a series of devaluations, in a step that has kept liquidity tight in Africa's biggest economy.

EMAIL THIS ARTICLE      SAVE THIS ARTICLE

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here

Comment Guidelines

About

Polity.org.za is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Mining Weekly
Research Channel Africa

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Polity.org.za is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now