Senate confirms 4 nominees as non-executive directors of CBN board

The Senate on Thursday confirmed the appointments of four Non-Executive Directors for the Board of the Central Bank of Nigeria (CBN).

President Muhammadu Buhari had forwarded five names of the Non-Executive members approved by him for the Board of the CBN.

The confirmation of the nominees followed the presentation of a report by the Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Rafiu Ibrahim.

The confirmed nominees include: Professor Justitia Odinakachukwu Nnabuko; Professor Ummu Admed Jalingo; Professor Mike I. Obadan and Adeola Adetunji.

But, the lawmakers refused to confirm the appointment of
Dr. Abdu Abubakar as a Non-Executive Director of the Board of the CBN over failure to pass the integrity test of the screening committee.

“The nominees have vast knowledge of the CBN act. They have been cleared by Code of Coduct Bureau (CCB) and relevant security agency.

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“One of the nominees, Dr. Abdu Abubakar, failed the integrity test designed by the committee to assess, his response to questions lacked transparency and not worthy to be appointed into a regulatory agency by the CBN,” Ibrahim said.

The Deputy Senate President, Ike Ekweremadu, urged the Senate to revisit the issues surrounding the non-confirmation of Dr. Abdu Abubakar.

On his part, Senate President Bukola Saraki charged the new members of the Non-Executive Board of the CBN to continue to support the growth of the ecoeconomy. He, however, referred the confirmation of Abubakar to the Committee on Banking for further legislative action.

By Oluwasegun Olakoyenikan…

 

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