Tinubu writes Senate, seeks confirmation of CBN board of directors

Central Bank of Nigeria (CBN).

By Abdul Yakubu

The president's request was contained in a letter read by the Senate President, Godswill Akpabio, during the plenary on Tuesday.

President Bola Tinubu has asked the Senate to screen and confirm five persons appointed as directors of the board of the Central Bank of Nigeria (CBN).

The president’s request was contained in a letter read by the Senate President, Godswill Akpabio, during the plenary on Tuesday.

The appointed board directors are; Robert Agbide, Ado Wanga, Murtala Sagaley, Urom Eke and Olayinka Aliyu.

In the letter, Mr Tinubu said his request was in compliance with the provision of section 6(1a) and section 10(1)(2) of the CBN Act, 2007.

“In compliance with the provision of section 6(1a) of the section 10(1)(2) of the Central Bank of Nigeria (CBN) Establishment Act 2007,” the president wrote.

“I am pleased to present for confirmation by the senate the appointments of the underlisted five persons as directors of the board of the CBN.”

Robert O. Agbide

Ado Yakubu Wanga

Murtala Sagaley

Urom Eke

Olayinka Aliyu.

Last Friday, the CBN Governor, Olayemi Cardoso, appeared before the Senate Committee on Banking, Insurance and Other Financial Institutions to discuss inflation, foreign exchange and other issues affecting the Nigerian economy.

The CBN governor appeared before the lawmakers in the company of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun and the Minister of Budget and National Planning, Atiku Bagudu.

During the meeting, Mr Cardoso announced that the central bank would no longer grant Ways and Means to the federal government unless the outstanding balance is settled. He said that the bank’s position was to control the inflation index.

Ways and Means is a loan facility through which the Central Bank of Nigeria finances the federal government’s budget shortfalls.