Journalism of Courage

Senate Committee Grills, confirms Obiora CBN Deputy Governor

 

…he is well fitted and suited for the job — Committee

 

Impressed by the pedigree and suaveness of Dr Kingsley Obiora, the Senate Committee on Banking, Insurance and Other Financial Institutions on Wednesday approved Obiora’s nomination for the position of Deputy Governor of the Central Bank of Nigeria (CBN).

After several hours of grilling, the nomination of Obiora by President Muhammadu Buhari for the position was accepted by the committee which described it as fitting.

Persecondnews reports that the Chairman of the Committee, Sen. Uba Sani, expressed the confidence that the nominee was well suited for the job given his involvement in the process of monetary policy formulation at both the national and international levels.

He urged him to bring his wealth of experience to bear on the operations, policy formulation and implementation of the bank.

“The Senate, through the Committee, decided to give the screening expeditious consideration, given the sensitivity and critical role the Deputy Governor of the Central Bank plays in the nation’s economic sector.

“And to plug any gap that might be created with the imminent exit of the outgoing Deputy Governor, Economic Policy,’’ Sani said.

Other members of the Committee also lauded the competence of the nominee, noting that he possessed the expertise to add great value to the management of monetary policy and indeed the Nigerian economy.

The Committee, while also commending the quality of the nominee and his patriotic zeal, said the nomination underscored the importance of merit in considering Nigerians for appointments.

Reacting to the questions posed by the Senate Committee members, Dr. Obiora expressed gratitude to the President for considering him for the appointment and also thanked the Committee for its kind words and  commitment to the  Nigerian project.

Obiora promised to contribute his quota to enable the Apex Bank to achieve on its mandate.

President Buhari had in a letter to the Senate on January 16, 2020, nominated Dr Kingsley Isitua Obiora as the CBN Deputy Governor in in accordance with the provisions of Section 8(1) (2) of the Central Bank of Nigeria (Establishment) Act 2007.

Obiora will replace Dr Joseph Okwu Nnanna, who retires from the bank on February 2, 2020.

Persecondnews recalls that Obiora holds a Bachelor’s degree in Economics and Statistics from the University of Benin, as well as a Master’s degree in Economics and a doctorate degree in Monetary and International Economics from the University of Ibadan.

On assumption of duties, Obiora is expected to vacate his current position of Alternate Executive Director in the International Monetary Fund (IMF) in Washington DC, U.S

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