Four new members will now join the Board of Directors at the Central Bank Of Nigeria as the Nigerian Senate approved their appointment following the request by President Tinubu.
President Tinubu had earlier asked for the approval of the Senate to confirm the nomination of five persons as members of the Board of Directors at the CBN
However one of the nominees from the South East , Abia State turned down his nomination
Chairman of the Senate’s Committee on Banking, Insurance and other Financial Institutions , presented his committee’s report on the confirmation of nominees for appointment as board of Directors at the CBN after a thorough screening exercise by the committee .
Senator Abiru disclosed that 4 out of the 5 nominees selected had fulfilled all necessary requirements and he proceeds to recommend the confirmation of their appointment by the Senate .
But , the Chairman explained that the South East nominee from Abia State failed to appear before the committee to be screened and recommended that the Senate declines his Nomination .
But the Vice Chairman of the Committee , Senator ORJI KALU tells the Senate that the nominee had reached out through a phone call , stating his decision to decline the nomination due to his engagement at the World Bank and other Financial institutions .
In another development , a bill to amend the Nigeria Deposit Insurance Corporation Act scaled second reading at the Senate .
The bill proposes to reinstate the powers to the President to recommend the appointment of the Managing Director and Executive Director as opposed to being the prerogative of the CBN Governor as enshrined in the ACT .
The bill also seeks to ensure total independence of the corporation in accordance with global best practices .
The bill has been referred to the Committee on Banking Insurance and Other Financial Institutions for further legislative action.
