Senate on Thursday, February 29, confirmed four out of five nominees as members of the Board of Directors of the Central Bank of Nigeria.

At a sitting on Thursday, February 29, 2024, the Upper Chamber said the approval was under sections 6(1), (2) (d) and 10 of the Central Bank of Nigeria Act, 2007.

The confirmation follows the submission and consideration of a report by the Chairman of the Committee on Banking, Insurance & Other Financial Institutions, Sen. Adetokunbo Abiru representing Lagos East.

Initially, the candidates billed to appear before the Upper Chamber were Robert Agbede, Ado Yakubu Wanka, Professor Murtala Sabo Sagagi-Urum, Kalu Eke, and Muslimat Olanike Aliyu.

However, the Chairman of Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Adetokunbo Abiru in his report, explained that only four ( Robert Agbede, Ado Yakubu Wanka, Professor Murtala Sabo Sagagi and Muslimat Olanike Aliyu) out of the five nominees had appeared for the screening exercise.

The Southeast nominee, Urum Kalu Eke did not attend the session.

A member of the Committee, Senator Orji Uzor Kalu representing Abia North rose to explain that Mister Urum Kalu Eke who is also one of his constituents, had apprised him of his intention to decline the appointment to avoid a conflict of interest.

According to him, Kalu Uruk Eke who is a consultant with the World Bank and other international financial institutions, might not have ample time to function optimally in the new appointment.