Godwin Emefiele, CBN governor

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) will, in line with the apex bank’s tradition, formally assume office for a second term of five years Monday.

The oath of office to be administered on him by the bank’s Director, Corporate Services Department.

The governor is expected to unveil his agenda for the bank in the coming days.

President Muhammadu Buhari had last month, appointed Emefiele for second term and subsequently submitted his name to the senate for confirmation on May 8.

The Senate later confirmed his reappointment sequel to the presentation of the report of the Senator Adebayo Ibrahim-led Senate Committee on Banks, Insurance and other Financial Institutions that screened the nominee.

Meanwhile, the Federal High Court, sitting in Lagos, has struck out a suit challenging a circular issued by Emefiele on January 15, 2016, directing banks and other financial institutions to enforce the collection of N50 stamp duty on electronic transfers and teller deposits from N1,000 and above (Eligible Bank Transactions).