Emefiele Re -appointed As CBN Governor By Buhari, Analysts View Gesture With Surprise

The Oasis Reporters

May 9, 2019

Godwin Emefiele, CBN Governor.

A sudden announcement on the Twitter handle of the Senate President, Dr. Bukola Saraki that President Muhammadu Buhari wrote to the Senate informing the house that he was “re – appointing the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, for a second term” caught political and economy watchers by surprise.

“It is against the run of play”, one analyst based in Kaduna told The Oasis Reporters humorously.

After the tenure of Joseph Oladele Sanusi as Central Bank governor, then President Olusegun Obasanjo appointed Prof. Charles Chukwuma Soludo to the position on 29 May 2004. At the end of his tenure on 29 May 2009, then President Umaru Yar’Adua refused to appoint him to a second term despite the positive and revolutionary changes Soludo brought to bear on the apex bank, banking experience and the economy.

The then new president looked to his Fulani tribe and picked a prince of Kano Emirate, Sanusi Lamido Sanusi as the next Central Bank governor. His reign dabbled between professionalism with pure political motivations, therefore President Goodluck Ebele Jonathan from the South South removed him from office before he could finish his first tenure.

Jonathan nominated Godwin Emefiele, then the Chief Executive of Zenith Bank, one of Nigeria’s leading commercial banks with an international outlook to the position.

Expectations that the seemingly pro Northern and pro Muslim president who got the bulk of his votes from his home base would predictably do what Yar’Adua and Jonathan did has so far failed to materialize as he promptly renewed the tenure of the Delta State born Emefiele, a region that traditionally withheld votes for the president, now on his final tenure.

Pundits are surprised.

Greg Abolo

Blogger at The Oasis Reporters.

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