Senate set to screen Emefiele as new CBN boss tomorrow

Following the suspension of Sanusi Lamido Sanusi as Governor of the Central Bank of Nigeria (CBN) by President Goodluck Jonathan, and subsequent nomination of Mr. Godwin Emefiele as replacement, the Senate will Thursday commence the screening of the latter for appointment as Governor of the apex bank.

The disclosure was made by the Senate in its Notice Paper yesterday.
The Senate leader, Victor Ndoma-Egba, according to the Notice Paper, is to formally move the motion for the screening and confirmation of the nominee.
The Senate will also, during the exercise, screen Mr Adelabu Adebayo Adekola as Deputy Governor of the CBN as nominated by the President.
Also, the Senate is expected to consider a bill seeking amendment of the CBN Act to remove a sitting CBN governor from being chairman of the CBN Governing Board.

The CBN amendment Bill which is being sponsored by Senator, Ita Enang, PDP, Akwa Ibom North East, has already gone through First Reading in the Senate.
It seeks to reduce the powers of a sitting CBN governor by amending section 7(1) of the existing act which stated that “The CBN governor shall be in charge of the day to day management of the Bank.

But the proposed amendment stated that the governor shall be in charge of the general administration of the affairs and business of the bank and shall be answerable to the Board for his acts and decisions.