Senate confirms 4 nominees to serve as Director on CBN board

The Senate has approved four out of five nominees from President Bola Tinubu to serve on the Board of Directors of the Central Bank of Nigeria (CBN).

The confirmed nominees include Mr. Robert Agbede, Mr. Ado Yakubu Wanka, Professor Muritala Sabo Sagagi, and Mrs. Muslimat Olanike Aliyu.

This approval came on Thursday following the submission of a report by Senator Mikhail Adetokunbo Abiru, representing Lagos East Senatorial District and Chairman of the Committee on Banking, Insurance, and Other Financial Institutions.

In his report, Abiru affirmed that the nominees underwent all satisfactory screening processes.

He added that their nomination by President Tinubu was in accordance with Section 6(1)(10)(D) of the CBN Act.

While assuring his colleagues that there were no petitions against any of the nominees, and no adverse security reports from the Department of State Service (DSS) or the Nigeria Police, he confirmed that the nominees fulfilled the requirements of the Code of Conduct Bureau.

With these assurances, the Senate unanimously confirmed the four nominees, reflecting their suitability to serve on the Board of Directors of the Central Bank of Nigeria.

According to him “The nominees have knowledge of the industry and have the capability to serve on the CBN board”

Meanwhile, Senator Orji Uzor Kalu representing Abia North Senatorial District disclosed that Urum Kalu Eke who is his constituent excused himself from the nomination for another engagement with the World Bank.

Kalu said “Mr President and Distinguished Colleagues, Mr Urum is my constituent and he called to say, there will be a conflict of interest in his nomination as CBN board director.
“That he wishes to decline, while he has already informed the Governor of the Central Bank of Nigeria.”

After contributions, the Deputy Senate President, Jibrin Barau who presided over the plenary confirmed the nominees through a voice vote.