Senate Confirms Four Nominees to CBN Board of Directors

by David Okoye
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The Senate has confirmed the appointment of four individuals, Robert Agbede, Ado Wanka, Murtala Sagagi, and Muslimat Olanike, to serve as members of the board of directors of the Central Bank of Nigeria (CBN). This decision follows the adoption of the Senate Committee on Banking, Insurance, and Other Financial Institutions’ report during the Committee of the Whole session.

Chairman of the committee, Abiru Adetounboi, reported that four out of the five nominees underwent the screening process, with Urum Eke being the exception as he did not appear. The nomination process adhered to the relevant sections of the Central Bank of Nigeria Act, 2007.

Senate

The committee’s assessment confirmed that the appointments align with the criteria outlined in the CBN Act. The nominees’ selection also adhered to the principles of representation from financial, agricultural, industrial, and commercial sectors, as well as the principle of Federal Character, as stipulated in the Act.

The nominees were found to possess the necessary knowledge, expertise, and professional experience required for serving on the CBN board. Furthermore, the committee received no petitions against their nominations.

Additionally, the nominees were cleared by the police, and they provided Code of Conduct acknowledgment slips as part of the verification process.

The committee chairman urged the Senate to confirm the appointments, emphasizing the nominees’ suitability for their roles on the CBN board.

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