Senate Approves Murtala Sagagi, 3 Other Nominees As CBN Directors

Taiwo Ajayi
2 Min Read

The Senate has given its seal of approval to the appointment of four individuals. Mr. Robert Agbede, Mr. Ado Wanka, Prof. Murtala Sagagi, and Mrs. Muslimat Olanike as members of the Board of Directors of the Central Bank of Nigeria (CBN).

This decisive move comes after the Senate Committee on Banking, Insurance, and Other Financial Institutions presented its report at the Committee of the Whole on Thursday.

Chairing the committee, Sen. Abiru Adetounboi, highlighted that four out of five nominees underwent screening, with Mr. Urum Eke being the only absentee.

The nominations adhere to the stipulations of sections 6(1) and 2(d), as well as 10, of the Central Bank of Nigeria Act, 2007.

READ ALSO: CBN, NSA Move To Punish Foreign Exchange Market Speculators

The committee’s findings confirm the appointments align with the CBN Act 2007, reflecting the essence of section 10, which emphasizes representation from various sectors such as financial, agricultural, industrial, and commercial interests, along with the principle of Federal Character.

Notably, the nominees possess the requisite knowledge, expertise, and professional background for the CBN board. The committee received no objections to their nominations and affirmed their clearance by the police, with all nominees holding Code of Conduct acknowledgment slips.

The Senate is urged to confirm their appointment, heralding a new chapter in the CBN’s governance.

Share this Article
Leave a comment