CBN Board: Senate Confirms Four Nominees

The Senate has confirmed four nominees for the position of non-executive directors for the board of the Central Bank of Nigeria (CBN). President Muhammadu Buhari had sent five names to the Senate in April but only four were confirmed on Thursday following rejection of Dr Audu Abubakar over petitions against him.


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


Presenting the report, Ibrahim explained that the Abdu Abubakar, the nominee for North West who was not confirmed, “failed the committee’s integrity test.


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


“The nominees have vast knowledge of the CBN Act. They have been cleared by CCB and relevant security agencies. “One of the nominee, Dr. Abdu Abubakar failed the integrity test designed by the committee to assess.


“His response to questions lacked transperancy and not worthy to be appointed into a regulatory agency like the CBN.” But Ibrahim, upon finishing his presention elicited and observation from the deputy Senate President, Ike Ekweremadu, who said the issues surrounding the non-confirmation of Abubakar should be revisited by the committee.


The Senate President, Bukola Saraki in his intervention also concurred with his deputy, saying that the committee should ensure that it explore all legislative avenue in determining the veracity of petitions written against the nominee.


Recall that the Committee on Wednesday grilled Dr Abubakar on allegations bordering on fraud and embezzlement.


According to the petitions, Abubakar allegedly abused his as an executive director of a commercial bank, as well as his position as a Special Adviser to former CBN Governor and now Emir of Kano, Muhammadu Sanusi.


The Committee has one week to conclude the review and report back to the Senate for further action.

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