The Nigerian Senate
  • Gets kudos for CBN job
The Nigerian Senate

BY COBHAM NSA, ABUJA – The Senate has challenged President Muhammadu Buhari’s nominee for the post Central Bank of Nigeria (CBN) Deputy Governor, Dr Kingsley Obiora to bring his wealth of experience to bear on the apex Bank mandate delivery in monetary policy and price stability.

This is as the upper legislative chamber hinted the nomination is receiving priority attention as to check any gap that could be created within system following the imminent exit of the current occupant of the office.

A statement by the CBN quoted the Chairman of Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Uba Sani as confirming that “the Committee, decided to give the screening expeditious consideration, given the sensitivity and critical role the Deputy Governor of the Central Bank plays in the nation’s economic sector and to plug any gap that might be created with the imminent exit of the out-going Deputy Governor, Economic Policy.”

Speaking after the screening session organised to grill Dr Obiora on Wednesday, Senator Sani gave the nominee kudos, describing him as fitting and proper person for the top job.

According to the Committee chairman, “the nominee was well suited for the position, bearing in mind the fact that he had been actively involved in the process of monetary policy formulation at both the national and international levels.”

Also expressing confidence in the Dr Obiora’s capacity to deliver on the assignment, the Senate Committee members had kind words for his competence and skill sets, noting that he possessed the expertise to add great value to the management of monetary policy and indeed the Nigerian economy.

In applauding his sterling qualities and patriotic zeal to serve the country, the Senators underscored the importance of merit in considering Nigerians for appointments

Addressing the Committee, Dr Obiora expressed gratitude to the President for nominating him as Deputy Governor-designate, even as he also appreciated the lawmakers for their kind words and commitment to the Nigerian project.

Dr Obiora pledged to deploy his wealth of experience in contributing towards effective mandate delivery by the apex Bank

The Senate President, Ahmad Lawan, had on Wednesday referred President Buhari’s request for the confirmation of Dr Obiora as Deputy Governor of CBN to the Senate Committee on Banking, Insurance and Other Financial Institutions for further legislative work.

The committee has two weeks to submit its reports to the Chamber in plenary. President Buhari had on January 16, 2020, written to the Senate on his nomination of Dr Kingsley Obiora, explaining that the decision was in accordance with the provision of Section 8(1) (2) of the Central Bank of Nigeria (Establishment) Act 2007.

Subject to the Senate confirmation, Dr. Obiora is expected to replace Dr. Joseph Okwu Nnanna, whose tenure expires on Sunday February 2, 2020.

Upon his confirmation, Obiora, who holds a Bachelor’s degree in Economics and Statistics from the University of Benin, will vacate his current position as Alternate Executive Director in the International Monetary Fund (IMF) in Washington DC, United States of America.

His resume also Include a Masters degree in Economics and doctorate in Monetary and International Economics, both from the University of Ibadan.

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