Home Latest News CBN: Senate confirms four for non-executive Directors board, rejects one nominee

CBN: Senate confirms four for non-executive Directors board, rejects one nominee

Again, Senate adjourns plenary

ADEKUNLE ADESUJI, Abuja

Senate on Thursday confirmed four out five nominees for non-executive board of Directors of Central Bank of Nigeria (CBN).Those that were confirmed were Professor Ummu Jalingo, Justitia Odinakachukwu Nnabuko, Mike Obadan and Adeola Adetunji .

However, it was only Abdu Abubakar that was not confirmed because he failed integrity test before the Senate Committee on Banking, Insurance and other financial institutions.

President Muhammadu Buhari had sent five names to the senate in April refused to confirm one out five members non-executive directors for the board of the Central Bank of Nigeria (CBN) over his failure to pass integrity test.

While Presenting the report for consideration, the chairman of the Committee, Senator Rafiu Ibrahim said informed the lawmakers that the four nominees have vast knowledge of the CBN act adding that four of them have been cleared by CCB and relevant security agency.

But, the chairman said, “One of the nominees, Dr Abdu Abubakar, failed the integrity test designed by the committee to assess, his response to questions lacked transparency and not worthy to appointed into a regulatory agency by the CBN.”

Pleading on behalf of Abdu, The Deputy Senate President, Ike Ekweremadu urged the lawmakers to reconsider the nominee and appealed which was unanimously adopted as the Senate President, Bukola Saraki mandated the committee to look at the circumstances surrounding the reject of the nominee and bring the report back for consideration.

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