BREAKING: Tinubu Nominates Five Directors For Senate Confirmation At CBN

BREAKING: Tinubu Nominates Five Directors For Senate Confirmation At CBN

In a swift move, President Bola Tinubu has submitted a request to the Senate, seeking confirmation for the appointment of five individuals as directors of the Central Bank of Nigeria board….READ ALSO Tinubu To Commission New Power Plant In Abia, Boosting Economic Prospects

The announcement was made through a letter addressed to the Senate President, Godswill Akpiabio, and read during the Senate’s plenary session on Tuesday.

The President emphasized that the nominations were in accordance with the provisions outlined in the CBN Establishment Act of 2007, specifically referencing Section 6, subsection 1b, and Section 10, subsections 1 and 2.

“I am pleased to present for confirmation by the Senate, the appointment of the following five individuals as Directors of the Board of the Central Bank of Nigeria: Robert Agbide, Ado Wanga, Muritala Sagaley, Urom Eke, and Olayinka Aliyu,” Tinubu’s letter stated.

Expressing hope for the Senate’s prompt consideration of the nominations, Tinubu extended his highest regards to the distinguished Senate President.

This development comes on the heels of recent actions by the apex bank, which dissolved the boards and managements of Union Bank of Nigeria, Keystone Bank, and Polaris Bank in January 2024, citing corporate governance infractions and non-compliance with regulatory requirements.

Tinubu’s decision to nominate these individuals follows a thorough investigation initiated in July 2023, where he appointed Jim Obazee, CEO of the Financial Reporting Council of Nigeria, as a special investigator to probe the CBN and related entities. This move underscores Tinubu’s commitment to ensuring accountability and transparency within key government institutions.