Senate Confirms Appointment of Four Nominees to CBN Board

February 29, 2024
Senate confirms Umar Yahaya

By Aduragbemi Omiyale

The appointment of four nominees to the board of the Central Bank of Nigeria (CBN) has been confirmed by the Senate.

The nominees were confirmed for the position at the plenary on Thursday after the presentation of the report of the Senate Committee on Banking, Insurance and Other Financial Institutions.

Chairman of the committee, Mr Tokunbo Abiru, informed his colleagues that only four of the five persons nominated by President Bola Tinubu appeared for screening.

The nominees screened and confirmed to join the board of directors of the central bank are Robert Agbede, Ado Yakubu Wanga, Murtala Sagagi, and Olanike Aliyu.

The fifth nominee, Urom Eke, according to Senator Orji Kalu, declined the appointment because he is currently a consultant to the World Bank, citing a conflict of interest for his refusal to take up the new job.

“He told me that it will be a conflict of interest because he is a consultant at the World Bank,” Mr Kalu, a former Governor of Abia State said at the plenary.

However, Mr Abiru said the four nominees, who were “cleared by the security agencies,” met the requirements expected of them.

“Four out of five appeared for screening and Urom Kalu Eke was not present for the screening,” the lawmaker said, adding, “They exhibited understanding and grasp of the economy.”

“The appointments are in accordance with the CBN Act. The nominees possessed the expertise to be members of the board of CBN,” the Senator from Lagos and former chief executive of Polaris Bank stated.

Recall that earlier this month, Mr Tinubu wrote a letter to the Senate, seeking the confirmation of five nominees as directors of the apex bank.

Aduragbemi Omiyale

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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