President Tinubu seeks Senate confirmation for five CBN board directors


President Bola Tinubu has written to the Senate requesting the confirmation of five individuals as directors of the Central Bank of Nigeria (CBN) board. 

The names of the nominees were disclosed in a letter presented to the Senate President, Godswill Akpiabio, and read during the plenary session on Tuesday, February 13, 2024.

In the letter, the president urged the lawmakers to screen and confirm the nomination of five persons for appointment as CBN board directors. 

He said the names presented for confirmation were in compliance with the provisions of Section 6, subsection 1b and Section 10 Subsections 1 and 2 of the CBN Establishment Act, 2007.

He wrote, “I am pleased to present for confirmation by the Senate, the appointment of the under-listed five persons as Directors of the Board of Central Bank of Nigeria. 

“Robert Agbide, Ado Wanga, Muritala Sagaley, Urom Eke and Olayinka Aliyu. 

“While hoping that the request will receive the expeditious consideration of the Senate, please accept the distinguished Senate President, the assurance of my highest regards.”

The apex bank had in January 2024 dissolved the boards and managements of Union Bank of Nigeria, Keystone Bank and Polaris Bank over alleged corporate governance infractions and non-compliance with regulatory requirements.

This came barely three weeks after the Special Investigator on the CBN and Related Entities, Jim Obazee, submitted its final report to Tinubu.

Meanwhile, Tinubu had in July 2023, appointed a special investigator to probe the CBN.

In a letter dated July 28, 2023, sighted by The PUNCH, the president named the Chief Executive Officer of the Financial Reporting Council of Nigeria, Jim Obazee, as the special investigator.

The President asked the Special Investigator to investigate CBN and key Government Business Entities, adding that the investigator would report directly to the President’s office.

“You are to investigate the CBN and related entities using a suitably experienced, competent and capable team and work with relevant security and anti-corruption agencies to deliver on this assignment. I shall expect a weekly briefing on the progress being made,” Tinubu had directed Obaze in his appointment letter.
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