The Senate on Thursday confirmed four of the five nominees for appointment as members of the Board of Directors of the Central Bank of Nigeria(CBN). The fifth nominee, Mr. Urum Kalu Eke, from Abia State, who is a consultant with the World Bank rejected his nomination by President Bola Tinubu,

The four confirmed nominees are Engineer Robert Agbede, Mr. Ado Yakubu Wanka Professor Murtala Sabo Sagagi and Mrs. Muslimat Olanike Aliyu. They will serve in non-executive capacity at the apex bank.

President Bola Ahmed Tinubu had last week, written the Senate, seeking for the screening and subsequent confirmation of five persons appointed as directors of the board of the Central Bank of Nigeria (CBN).

In the letter, President Tinubu who explained that his request was in compliance with the provision of section 6(1a) of the section 10(1)(2) of the CBN Act, 2007, said, “In compliance with the provision of section 6(1a) of the section 10(1)(2) of the Central Bank of Nigeria (CBN) establishment act 2007.

The confirmation followed the consideration of a report of the screening of the nominees presented by the Chairman, Senate Committee on Banking, Insurance & Other Financial Institutions Senator Adetokunbo Abiru, APC, Lagos East.

Senator Abiru said: “That the Senate do receive and consider the report of the confirmation of the nomination of the following five (5) persons as members of the Board of Directors of the Central Bank of Nigeria in accordance with section 6(1), (2) (d) and 10 of the Central Bank of Nigeria Act, 2007″.

“They exhibited understanding and grasp of the economy.The appointments are in accordance with the CBN Act. The nominees possessed the expertise to be members of the board of CBN. The nominees were cleared by the security agencies”, he stressed.

He, however, said the Committee did not clear Mr. Urum Kalu Eke from Abia because he failed to appear before the Committee for screening.

But speaking on the nominee, former Governor of Abia State, Senator Orji Uzor Kalu, APC, Abia North informed the Senate that Mr. Eke who is his constituent called him on telephone that he rejected the offer because it would conflict with his present job as a consultant with the World Bank.

“He told me that it will be a conflict of interest because he is a consultant at the World Bank,” he said. Thereafter, the nominations were put to vote and confirmed.

Below are brief information about the new CBN Directors

Engr Agbede

Engineer Robert O. Agbede is the President and CEO and owner of Chester Engineers – the largest black-owned environmental and engineering design company in the United States and the largest water and wastewater treatment plant design and management company in Western Pennsylvania.

He acquired Chester Engineers in 2003 from from U.S. Filter Co., making it part of the ATS Group, the company he founded in 1987.

Under his stewardship, Chester Engineers headquartered in Pittsburgh, Pennsylvania, has expanded and has a presence throughout the United States as well as international affiliates and handles projects around the world.

Engineer Agbede was selected by the National Society of Black Engineers (NSBE) as their 2012 NSBE Golden Torch Award honoree for Entrepreneur of the Year. He was nominated and selected because of the significant impact he has made on the community and his contributions to the African American Community.

He is an alumnus of the University of Pittsburgh where he earned a B.S. and an M.S. in Mining Engineering. In 2000, the University honored Engineer Agbede by installing him in their prestigious “Engineering Hall of Fame.”

Prof Sagagi

Born on 10 October , 1968, Murtala Sabo Sagagi, a Professor and board director at the CBN hails from Kano State.

He holds a B.Sc in Business Administration and a Master’s degree in Business Administration (MBA), all obtained from Bayero University, Kano, in 1990 and 1996 respectively.

He equally holds a a PhD in Strategic Management from Usmanu Danfodio University, Sokoto which he obtained in 2006, as well as Graduate Research in (International Business & Global Economics) from Brandeis University, Boston (2004/2005).

Earlier, Prof. Sagagi served as the Adviser for Sustainable Inclusive Economic Growth at FSSP/Global Affairs Canada between 2021 and 2023.

He was also a Special Assistant to the Minister of Agriculture (‪2019 – 2020‬); Senior Policy Adviser of the ministry in 2020; and Secretary Ministerial Advisory Board (‪2019 – 2020‬). From 2019 to 2022, he assisted the Policy Development Team of the Federal Ministry of Agriculture and Rural Development which produced the current National Agricultural Technology and Innovation Plan (NATIP).

He was a member, of the Steering Committee on National Agricultural Mechanisation (2019 – 2020); and an Adviser, in Investment Promotion and Investment Climate (‪2007-2018‬).

Sagagi was the Pioneer Dean of the Dangote Business School at Bayero University (‪2014-2019‬).

He also served as the Director of the Centre for African Entrepreneurship Research and Training (2011 – 2014) and editor-in-chief of the Journal of African Entrepreneurship Research (‪2015 – 2018‬), and led the design of the National Entrepreneurship Education curriculum and the creation of Centre for African Entrepreneurship Research and Training to support youth employability and enterprise development, among other engagements.

Engineer Wanka

Engineer Ado Yakubu Wanka was born on the 6 January, 1955.

He holds a BSc in Chemical Engineering (1977) and a masters in Business Administration (1984) both from Ahmadu Bello University, Zaria.

He is an alumnus of the Harvard Business School and Switzerland Institute of Management Development, Lausanne.