A former Director of the Budgetary Department of the CBN, Dr Titus Okunronmu, has commended President Muhammadu Buhari for re-appointing Mr Godwin Emefiele as governor of the apex bank.<\/p>\n
Okunronmu gave the recommendation in an interview with the News Agency of Nigeria (NAN) at Ota in Ogun on Friday.<\/p>\n
He described Emefiele\u2019s re-appointment as a decision in the right direction, saying that the re-appointment would stabilise Nigeria\u2019s macro-economic decisions.<\/p>\n
The former CBN director said that Emefiele had done well, noting that \u201cthe country\u2019s inflation rate is drastically coming down.<\/p>\n
\u201cHe has achieved what it expected of him as the nation\u2019s currency is now stable,\u2019\u2019 said Okunronmu.<\/p>\n
\u201cMonetary stability is a major issue in any economy. Emefiele has achieved this.\u2019\u2019<\/p>\n
Okunronmu said that it would be difficult to achieve monetary stability in a situation where the nation was running on deficit, noting that to have stabilised the monetary policies was a big achievement.<\/p>\n
A letter for Emefiele\u2019s tenure renewal was signed by Buhari on May 8 and has since been sent to the Senate for confirmation.<\/p>\n
The CBN Act stipulates that the Senate must confirm the nomination of any of its governors before the appointment can take effect.<\/p>\n
This is the first time since 1999 that a CBN governor would be nominated to serve a second term.<\/p>\n
Emefiele was first appointed in 2014 by former President Goodluck Jonathan and was retained by Buhari when the president assumed office in 2015.<\/p>\n","protected":false},"excerpt":{"rendered":"
A former Director of the Budgetary Department of the CBN, Dr Titus Okunronmu, has commended President Muhammadu Buhari for re-appointing Mr Godwin Emefiele as governor of the apex bank. Okunronmu gave the recommendation in an interview with the News Agency of Nigeria (NAN) at Ota in Ogun on Friday. He described Emefiele\u2019s re-appointment as a […]<\/p>\n","protected":false},"author":62,"featured_media":8954,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,29],"tags":[97,503,653,158],"class_list":["post-9945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-buhari","tag-cbn","tag-emefiele","tag-presidency"],"yoast_head":"\n