The Nigerian Senate on Wednesday confirmed former Managing Director of Zenith Bank Plc, Mr. Godwin Emefiele as the new Governor of the Central bank of Nigeria (CBN).

President Goodluck Jonathan nominated Emefiele to the Senate on February  20th  2014, the same day he ousted then Governor, Mallam Sanusi Lamido Sanusi on   allegations of financial reckless and misconduct.

Confirming the president’s nominee, President of the Senate, David Mark expressed assurance that Emefiele would lead the bank “without fear or favour”.

Emefiele will take over the reins of CBN from Dr. Sarah Alade, the most senior deputy governor at the bank who has been Governor in acting capacity since Sanusi’s suspension.

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