The Senate has given its approval on Thursday for the appointment of four nominees, out of the five presented by President Bola Tinubu, to serve on the Board of Directors of the Central Bank of Nigeria (CBN).

In a report submitted to the Chambers by Senator Mikhail Adetokunbo Abiru, Chairman of the Committee on Banking, Insurance, and Other Financial Institutions, who represents Lagos East Senatorial District, it was confirmed that the nominees had undergone satisfactory screening.

Senator Abiru emphasized that President Tinubu’s nomination was in accordance with Section 6(1)(10)(D) of the CBN Act.

During the confirmation process, Abiru informed his colleagues that there were no petitions against any of the nominees. He further stated that there were no adverse security reports from the Department of State Services (DSS) or the Nigeria Police, and that the nominees had fulfilled the requirements of the Code of Conduct Bureau.

He stated, “The nominees possess industry knowledge and the capability to serve on the CBN board.”

However, Senator Orji Uzor Kalu, representing Abia North Senatorial District, disclosed that Urum Kalu Eke, his constituent, had withdrawn from the nomination due to another engagement with the World Bank.

Kalu explained, “Mr Urum is my constituent, and he called to say that there would be a conflict of interest in his nomination as a CBN board director. He wishes to decline and has already informed the Governor of the Central Bank of Nigeria.”

After deliberations, Deputy Senate President Jibrin Barau, who presided over the plenary, confirmed the nominees through a voice vote. The approved nominees are:

1. Mr Robert Agbede
2. Mr Ado Yakubu Wanka
3. Professor Muritala Sabo Sagagi
4. Mrs Muslimat Olanike Aliyu