The reappointment of the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, was one of the issues considered during plenary in the Senate.
Senate President Bukola Saraki read an Executive Communication to his colleagues on Tuesday, in which President Muhammadu Buhari asked the lawmakers to approve the renewal of Mr Emefiele’s appointment for a second tenure.
According to the President, the request was made in accordance with Section 8(1) and (2) of the Central Bank of Nigeria Act 2007.
After deliberating on the matter, the Senate referred the request to its Committee on Banking, Insurance and Financial Institutions.
The committee was asked to report back in a week.
President Buhari had informed the Senate that he has decided to nominate the CBN Governor for a second term in a statement sent to the lawmakers on Wednesday last week.
Emefiele was first appointed by former President Goodluck Jonathan in 2014 and was retained after the President assumed office in 2015.
It is the first time since 1999, when Nigeria returned to democracy, that anyone would be nominated to serve two terms as CBN governor.