Buhari Picks IMF Director Obiora as CBN Deputy Governor

Kingsley Isitua Obiora

By Dipo Olowookere

An Alternate Executive Director in the International Monetary Fund (IMF) in Washington DC, United States of America, Dr Kingsley Isitua Obiora, has been nominated to become a Deputy Governor of the Central Bank of Nigeria (CBN).

Mr Obiora was nominated to be appointed for the position by President Muhammadu Buhari, who has already sent his name to the Senate for confirmation as required by the laws of the land.

Special Adviser to the President on Media and Publicity, Mr Femi Adesina, confirmed this development in a statement issued on Wednesday, January 16, 2020 in Abuja.

He said President Buhari explained in a letter to Senate President, Mr Ahmad Ibrahim Lawan, that the selection of the IMF top shot was in accordance with the provision of Section 8(1) (2) of the CBN (Establishment) Act 2007.

“President Muhammadu Buhari has sent the name of Dr Kingsley Isitua Obiora to the Senate for confirmation as Deputy Governor of the Central Bank of Nigeria,” Mr Adesina said in the statement.

“In a letter to President of the Senate, Ahmad Ibrahim Lawan, President Buhari said the nomination was in accordance with the provision of Section 8(1) (2) of the Central Bank of Nigeria (Establishment) Act 2007,” the presidential spokesman said further.

According to him, Mr Obiora, upon confirmation by the Senate, will replace one of the present CBN Deputy Governors, Mr Joseph Nnanna, who is retiring from the post on February 2, 2020.

Business Post reports that Mr Nnanna is the Deputy Governor of the central bank overseeing the Economic Policy Directorate, which covers the apex bank’s Financial Markets’ franchise.

The statement also noted that Mr Obiora holds a Bachelor’s degree in Economics and Statistics from the University of Benin, a Masters in Economics from the University of Ibadan, and a Doctorate in Monetary and International Economics, also from the University of Ibadan.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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