President Muhammadu Buhari has requested Senate confirmation on the appointment of five non-executive Directors of the Nigeria’s apex bank, CBN. The President’s request was contained in a letter addressed to the Senate Leadership, and read on the floor of the Senate during wednesday’s plenary session. The nominees were drawn from five of the country’s six geo-political zones.
The nominees are: Ummu Jalingo (North East), Justina Nnabuko (South East), Mike Obadan (South South), Abdu Abubakar (North West) and Adeola Adetunji (South West).
Announcing the names of the nominees, President of the Senate, Dr. Bukola Saraki, referred the screening of the five Non-Executive Directors to the Committee on Banking, Insurance and other Financial Institutions. He also mandated the Senator Rafiu Ibrahim-led committee to report back in two weeks.
Senate Majority Leader, Senator Ahmad Lawan moved the motion for the screening of the nominees. The confirmation of appointment of the nominees, he said, “is in accordance with Sections 6(1) (d) and 10(1) and (2) of the CBN Act, 2007.”
The motion was seconded by Senate Minority Leader, Senator Godswill Akpabio.
It would be recalled that in April 2017, President Buhari earlier requested the confirmation of the appointment of these five Non-Executive Directors of the Board of CBN.
The Senate, however, refused to confirm the appointment then, due to a resolution in 2016, against the then Acting President Yemi Osinbajo that the Senate lacked powers to confirm Ibrahim Magu as chairman, Economic and Financial Crimes Commission (EFCC).
However, the Senate soft-pedalled in March 2018 and confirmed the appointment of two Deputy Governors of the apex bank and three members of the Monetary Policy Committee (MPC).
Last week, the Chairman, Senate Committee on Local and Foreign Debts, Senator Shehu Sani, urged his colleagues to lift the embargo on screening and confirmation of appointment of the five apex bank nominees.
Citing Order 43 of the Senate Standing Orders 2015 (as amended), the lawmaker said the unavailability of the nominees had limited the functions of the apex bank.
