Senate Confirms Obiora For CBN’s Job

BY EDMOND ODOK, ABUJA – Following his screening on Wednesday by the Senate Committee on Banking, Insurance and Other Financial Institutions, Dr Kingsley Isitua Obiora has been confirmed as the Deputy Governor, Central Bank of Nigeria (CBN).

Obiora’s confirmation is sequel to the presentation and consideration of the Committee’s report by the Senate plenary on Thursday.

The Committee’s Chairman, Senator Uba Sani (APC), Kaduna Central), who presented the report on behalf of the members, poured encomiums on Dr Obiora whom they noted was fit and proper person for the assignment.

At the screening session where the Committee emphasized the urgency in confirming the nominee, members expressed confidence in Dr Obiora’s capacity to deliver on his assignment.

They also agreed that he has the requisite expertise to add great value to CBN’s operations going forward

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.

Obiora holds a Bachelor’s degree in Economics and Statistics from the University of Benin. He also has Masters degree in Economics and doctorate in Monetary and International Economics, both from the University of Ibadan.

He is currently an Alternate Executive Director in the International Monetary Fund (IMF) in Washington DC, United States. Obiora has experience working in several countries in Europe, Africa, and Asia since joining the Fund as an Economist in 2007,

Interestingly, the new Deputy Governor was Special Assistant to the President’s Chief Economic Adviser and Technical Adviser to the National Economic Management Team (NEMT) while on leave from the IMF

This appointment will be Obiora’s second stint with the apex bank, having worked as a Special Adviser on Economic Matters to the CBN Governor between October 2011 and July 2018.

Dr. Obiora will take over from Dr. Joseph Okwu Nnanna, who is leaving the apex bank on Sunday February 2, 2020.