Senate Rejects CBN Nominee

The committee in the report said the four nominees are very resourceful, diligent, articulate, competent and have the needed value for the CBN and answered questions satisfactorily.

The Senate on Thursday refused to confirm one out five of the Non-Executive Directors for the board of the Central Bank of Nigeria over his failure to pass integrity test.

The Senate Committee on banking in its report indicated that  the nominee, Abdu Abubakar, failed integrity test.

Nominees confirmed were Prof. Ummu Jalingo, Justitia Odinakachukwu Nnabuko, Mike Obadan and Adeola Adetunji.

The committee in the report said the four nominees are very resourceful, diligent, articulate, competent and have the needed value for the CBN and answered questions satisfactorily.

Presenting the report for consideration, the Chairman of the Senate Committee on Banking and Other Financial Institutions, Senator Rafiu Ibrahim, said: “The nominees have vast knowledge of the CBN Act.

“They have been cleared by Code of Conduct Bureau and relevant security agencies.

“One of the nominees, Dr. Abdu Abubakar, failed the integrity test designed by the committee.

“His response to questions lacked transparency and not worthy to appointed into a regulatory agency by the CBN.”

After the presentation of the report, the Deputy Senate President, Ike Ekweremadu,  pleaded that the circumstances surrounding the non-confirmation of Abubakar should be revisited by the committee.

Senate President Bukola Saraki thereafter ordered the committee to look into it and bring it back for consideration.

It could be recalled that President Muhammadu Buhari sent five names to the Senate in April.