Emefiele begins second tenure as CBN Governor

Mr Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), on Monday began his second tenure, following the confirmation of his re-appointment by the Senate on May 16.

According to a statement by the Director Corporate Communications, Mr Isaac Okoroafor, Emefiele was sworn in by the Bank’s Secretary and Director, Corporate Secretariat Department, Mrs Alice Karau.

Emefiele after taking the oath, expressed gratitude to God, President Muhammadu Buhari for nominating him and the Senate for confirming his appointment.

He also thanked the management and staff as well as the media for all their support during his first term in office.

Emefiele disclosed that he will unfold a new roadmap for the Bank and the economy, in the days ahead, after series of consultations with critical stakeholder groups.

He charged all stakeholders to strengthen efforts at building a healthy and stable system in the best interest of Nigeria.

The CBN governor also reiterated the bank’s focus to play an active role in supporting job and wealth creation in Nigeria.

“We must strengthen our efforts over the coming years to stimulate growth and job creation in critical sectors of the economy, which will help insulate our economy from shocks in the global economy.

“We must also work to build a healthy and stable financial system that will contribute to the growth of our economy, while preserving price stability,” he said.

Emefiele said more work still needed to be done in building a stronger economy for the benefit of all.

According to him, the pace of Gross Domestic Product (GDP) growth remained fragile and was below the rate of Nigeria’s annual population growth at 2.7 per cent.

He, therefore, pledged that the CBN would continue to collaborate with the fiscal authorities to strengthen growth and wealth creation in the country.