MY CONTRIBUTION TO YESTERDAY'S SCREENING OF CBN GOVERNOR AND DEPUTY NOMINEES AS THE SENATE RESUMES PLENARY

My Dear Constituents,

The Senate resumed plenary yesterday after a short vacation and during the sitting, I joined my distinguished colleagues to screen Dr Olayemi Cardoso who was nominated by President Bola Ahmed Tinubu, GCFR, to serve as the Governor of the Central Bank of Nigeria and Mrs. Emem Nnana Usoro, Mr Muhammad Sani Abdullahi Dattijo, Mr Philip Ikeazor, and Dr Bala M. Bello who were also nominated by the President to serve as Deputy Governors of the Apex Bank.

During the exercise, I reiterated the importance of ensuring that the nominees possess the necessary qualifications, experience, and integrity to effectively carry out their roles in the Central Bank of Nigeria. As a member of the Senate, we have to thoroughly scrutinize and evaluate the nominees to ensure that they are fit for the positions they have been nominated for.

I also emphasized the need for transparency and accountability in the selection process. It is crucial that the nominees undergo a rigorous screening process to ensure that they are free from any conflicts of interest. The Central Bank of Nigeria plays a critical role in the country's economy, and it is essential that those appointed to lead it are individuals of high moral character and competence.

Furthermore, I reiterated the need for the Apex Bank to put in measures that will finance the resuscitation of existing refineries and the building of Modular Refineries to support fuel subsidy removal and called on the nominees to streamline measures that will curb sabotage of our financial economy and strengthen the Naira.

I also stressed the importance of maintaining the independence of the Central Bank. The Central Bank should be free from political interference and be able to make decisions based on economic considerations and the best interests of the country. The nominees must understand and respect the importance of this independence and are committed to upholding it.

Overall, the screening exercise was a necessary step in ensuring that the nominees for the positions in the Central Bank of Nigeria are qualified and capable of effectively carrying out their responsibilities. I am confident that the Presidency will make informed decisions based on the outcome of the screening process, and that the individuals selected will contribute to the growth and stability of Nigeria's economy.

Senator (Dr) Ifeanyi Ubah, CON
Anambra South Senatorial District
September 27, 2023.

SENATE SCREENING OF CBN NOMINEES

~ IFEANYI UBAH CALLS FOR STRENGTHENING OF THE NAIRA AND BUILDING OF MODULAR REFINERIES

The Senate resumed the plenary yesterday after its vacation and immediately commenced the screening of Mr. President's nominees for the positions of governor and deputy governors of the Central Bank of Nigeria.

The screened nominees who were presented by President Bola Tinubu GCFR, to serve as the Governor of the Central Bank of Nigeria and Deputy Governors were Dr Olayemi Cardoso, Mrs Emem Nnama Usoro, Mr Muhammad Sani Abdullahi Dattijo, Mr Philip Ikeazor, and Dr Bala M. Bello respectively.

In his contribution during the screening exercise, Senator Dr. Ifeanyi Ubah reiterated that the Central Bank of Nigeria plays a critical role in the country's economy and it is essential that individuals nominated to lead it exhibit high moral character, experience, integrity and competence especially in the face of the current economic woes and free fall of the Naira.

Senator Ubah also called for the immediate refurbishment of the existing refineries in the country as well as measures aimed at providing strategic financial incentives that will aid the building of modular refineries and other interventions that will help mitigate the pains of fuel subsidy removal.

Senator Ifeanyi Ubah, in conclusion, called on the Central Bank of Nigeria to also put in measures that will help revitalise the manufacturing sector to grow Nigeria's export capability as this will, in turn, help to strengthen the Naira and end its current free fall.

#IfeanyiUbahAtThe10ThSenate

Ubahnation Media Centre Reports✍