Emefiele Re-appointed for 2nd Term as CBN Governor

Mr. Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) has been re-appointed for second term in office by President Muhammadu Buhari. His first tenure is due to expire in June 2019.

The Presidency has already dispatched the letter nominating Emefiele for second terms as CBN governor to the Senate for confirmation.

Some of the notable policies of Emefiele in the first term include forex management, restriction in the importation of various items that could be produced locally to reduce out-flow of foreign exchange and the Anchor Borrowers Programme (ABP) to support the growth of the agricultural sector in Nigeria.

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Beyond the Change Chorus: Is Nigeria Open for Business Again?

Against the intense apprehension by local and international observers, Nigeria's 2015 Presidential Elections turned out peaceful and successful following the incumbent's concession of defeat prior to the final announcement by the electoral umpire - INEC. The election, which was keenly contested by All Progressives Congress (APC) - General Muhammadu Buhari (GMB) and Peoples Democratic Party (PDP) - Goodluck Ebele Jonathan (GEJ) saw the emergence of GMB as the President-elect of Nigeria. GMB satisfied the constitutional requirement of polling the majority votes of 15.4 million (vs. GEJ's 12.9 million total votes) while also winning at least 25.0% of the votes cast in 28 states (vs. GEJ's 27 states). In the past weeks, there have been two contending words -- Change vs. Transformation. With the former now triumphing over the latter, the Nigerian economy and financial market demand more..."Beyond the change chorus".