Tinubu appoints new CBN board chairman, seeks Senate approval

President Bola Ahmed Tinubu has appointed a new board chairman for the Central Bank of Nigeria (CBN).

President Tinubu appointed Ruby Onwudiwe as the new chairman to replace Orum Kalu Eke, who declined the nomination due to his engagement at the World Bank and other financial institutions.

Tinubu’s request was contained in a letter addressed read by Godswill Akpiabio, the Senate President during plenary on Wednesday.

Tinubu in the letter, said the request for confirmation was in compliance with provisions of section 10, sub section one of the Central Bank of Nigeria Establishment Act 2007.

“I am pleased to present for confirmation by the senate, the appointment of Dr Ruby Onwudiwe as a member of the CBN board of directors. The senate is invited to kindly note that Onwudiwe is a replacement for Mr Kalu Eke, due to the unavailability of Eke for the position.

“It is my hope therefore, that the senate will consider and confirm in its usual expeditious manner, the appointment of Onwudiwe. Please accept the assurances of my highest regards,” the letter read.

The Senate, had on February 29 confirmed four out of the five persons nominated by President Bola Tinubu as members of the board of directors of the Central Bank of Nigeria.

The upper chamber confirmed Robert Agbede, Ado Yakubu Wanka, Murtala Sabo Sagagi, and Muslimat Olanike Aliyu, but did not confirm Urum Kalu Eke who did not appear before the Committee on Banking Insurance and other Financial Institution for screening.

Meanwhile, Orji Kalu, the Senator representing Abia North, explained that Eke, the nominee not confirmed, could not appear for screening to take up the role because it will conflict with his current job as consultant to the World Bank, among others.

Orji told lawmakers that Eke already informed the CBN that he will not be able to take the job.