TheCable

The senate committee on banking, insurance and other financial institutions has commenced the screening of Godwin Emefiele as governor of the Central Bank of Nigeria (CBN) for a second term.

On Tuesday, the senate gave the committee one week to carry out the screening and report back to it.

The committee, chaired by Rafiu Ibrahim, a Peoples Democratic Party (PDP) senator from Kwara, commenced the screening at noon on Wednesday.

Emefiele was first appointed by former President Goodluck Jonathan in 2014 .

While he is due to end his first term on June 2, this year, he has been reappointed by Buhari for a second term.

This is the first time in Nigeria’s current democratic dispensation that anyone would be nominated to serve two terms as CBN governor.

Some of the policies put in place during Emefiele’s first tenure were the stability of the naira, introduction of a list of items for whose import foreign exchange was made unavailable as well as a directive to banks to sell forex to customers over the counter for basic travel allowance (BTA), medical and education bills.