Senate confirms 4 CBN board nominees

Senate

The Senate on Thursday confirmed four of the five non-executive directors for the board of the Central Bank of Nigeria (CBN).

The nominees were confirmed after the Chairman of the Senate Committee on Banking, Rafiu Ibrahim, presented a report.

Ibrahim explained that the Abdu Abubakar, the unconfirmed nominee, failed the committee’s integrity test.

He said, “That four out of the five nominees, Professor Ummu Jalingo, Justitia Odinakachukwu Nnabuko, Mike Obadan and Adeola Adetunji are very resourceful, diligent, articulate, competent and have the needed value for the central bank and they answered questions satisfactorily.

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

“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 appointed into a regulatory agency by the CBN.”

After Ibrahim finished presenting his report, Deputy Senate President, Ike Ekweremadu, said the issues surrounding the non-confirmation of Abubakar should be revisited by the committee.

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Thereafter, Senate President Bukola Saraki directed the committee to look into it and report back.

President Muhammadu Buhari had April 2017 sent five names to the Senate for confirmation as non-executive directors for the apex bank.