CBN: Obiora Takes South East Slot, Replaces Nnanna

By Fola James

Dr. Kingsley Obiora has now been confirmed as Deputy Governor of the Central Bank of Nigeria (CBN).

The magazine, however learnt that the cerebral technocrat was recommended by CBN Governor, Godwin Emefiele to President Muhammadu Buhari.

The duo have been working together since 2014 when former President Goodluck Jonathan appointed Emefiele as the apex bank boss.

The CBN governor, it was learnt used his influence in government to push the nomination of Obiora through the Senate.

Therefore, his speedy confirmation at the Senate on Wednesday, did not surprise analysts who said the graduate of University of Benin, now one of the Deputy Governors of the apex bank to work with Emefiele to implement the federal government’s monetary policies, possess intimidating credentials that the nation needs at this time..

His confirmation came on the adoption of the report of the Senate Committee on Banking, Insurance and other Financial Institutions read at plenary by its Chairman, Senator Uba Sani, which recommended the confirmation of the nominee.

President Buhari while nominating Obiora said “In accordance with the provisions of Section 8(1)(2) of the Central Bank of Nigeria (CBN) (Establishment) Act 2007, I have the pleasure to present Dr. Kingsley Isitua Obiora for confirmation as Deputy Governor of the Central Bank of Nigeria.”

Obiora replaced Dr. Joseph Nnanna, as the deputy governor of the CBN in charge of Economic Policy.

Nnanna will retire on February 2.

The new CBN deputy governor has a solid background in financial matters and has worked for top world’s organisation such as the IMF before his nomination by President Buhari.

Before working with the IMF, Obiora worked with the CBN from 2014-2018, where he was the Special Adviser to the CBN Governor on Economic Matters and contributed significantly to the overall analytical and policy framework of the CBN.

At a point, he led the team of several technical aides attached to the governor’s office.