Senate clears CBN non-executive director nominees

The Senate has approved President Muhammadu Buhari’s nominees for Non-Executive Directors of the Central Bank of Nigeria, who were sent to the Red Chamber for confirmation (CBN).

Senator Uba Sani, Chairman of the Senate Committee on Banking, Insurance, and Other Financial Institutions, announced this in a statement.

The four reappointed Non-Executive Directors, including Prof. Mike Idiahi Obadan, Prof. Justitia Odinakachukwu Nnabuko, Prof. Ummu Ahmed Jalingo, and Mr Adeola Adetunji, were screened by the Committee, according to the lawmaker.

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Explaining the screening process, the senator said the nominees were asked a wide range of questions on the mandate of the CBN, the challenges it is facing, the current situation in the banking and financial sectors, how to build strong synergy between the monetary and fiscal authorities, and how to get Nigeria out of its present economic difficulties.

He noted that “the screening session was robust and interactive”, adding that “the nominees exhibited high levels of understanding of the Nigerian economy, as well as the challenges, intricacies and opportunities of the Nigerian financial sector.

“No petition was received in respect of any of the nominees.”

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