Senate confirms 4 nominees as CBN Board of Directors

The Senate has confirmed the appointment of four persons, Mr Robert Agbede, Mr Ado Wanka, Prof. Murtala Sagagi and Mrs Muslimat Olanike, as members of Board of Directors of the Central Bank of Nigeria (CBN).

This followed the adoption of the report of the Senate Committee on Banking, Insurance and Other Financial Institutions at the Committee of the Whole on Thursday.

Presenting the report, the Chairman of the committee, Sen. Abiru Adetounboi, said the four out of the five nominees appeared for screening, while the fifth, Mr Urum Eke, failed to appear.

He said their nomination was in accordance with the provisions of section 6 1 and 2 (d) and 10 of to the Central Bank of Nigerian Act, 2007.

He said that findings of the committee indicated that the appointment was in accordance with the provisions of the section six of the CBN Act 2007.

He said the appointment of the nominees was in tandem with provision of section 10 of the Act, which required that the President in appointing them shall have due regard to four representation on the financial, agriculture Industrial, commercial interests and principle of Federal Character.

He said the nominees possessed the knowledge, expertise and professional experiences to be members of board of CBN, saying that the committee did not receive any petition against their nomination.

He said the nominees had been cleared by the police, and possessed the Code of Conduct acknowledgement slips.

He urged the Senate to confirm their appointment.