Senate confirms CBN boards of directors , passes NABRO establishment bill

By Andrew Oota

Senate has confirmed the appointments of five nominees of President Bola Ahmed Tinubu for appointment as members of the Board of Directors of the Central Bank of Nigeria.

The Senate also passed the bill for the establishment of the National Assembly Budget and Research Office .

The nominees for confirmation as member of the CBN board included Mr Robert Agbede, Mr Ado Yakubu Wanka, Professor Murtala Sabi Sagaji, Urum Kalu Eke and Mrs. Muslimat Olanike Aliyu.

Presenting the report of screening of the nominees , chairman of the Senate panel on Banking, Insurance and other financial Institutions,Senator Mikhail Adetokunbo explained that the nominations followed the due process of the law and the nominees exhibited high knowledge of banking and financial sector ,such that will add value to Nigeria .

Similarly , again , Senate resurrected the bill for the establishment of NABRO which could not pass legislative scrutiny since 2007 and passed same.

Sponsored by deputy Senate President Jubrin Barau, majority of senators were of the opinion that the establishment of NABRO will be of immense assistance to the budgetary process of the National Assembly by providing it with insights into both hidden and open intentions of any budget presented to the National Assembly.

However ,senator Adams Oshiomhole drew attention of the senate to the announcement of the executive to scale down agencies and wondered why the National Assembly will be establishing more institutions .

According to senator Oshiomhole,”the perception in the public space is that the budget of the National Assembly is too big. Whether we believe with that thinking of the public or not , there is that perception and moreso that President Bola Tinubu has resolved to scale down agencies. We can’t be creating new institutions because it will run contrary with the policy of the government of the day”.

But coming under a point of order , Senator Ibrahim Monguno countered Senator Oshiomhole stressing that the matter at hand have nothing to do with the budget of the National Assembly, instead it seek to make the budgetary process of the National Assembly more effective and realistic .

While senator Monguno’s point of order was sustained , first term senators sort to know why the bill was dropped by the previous assemblies .

In his explanations , deputy Senate President Jubrin Barau said it was the fear of the previous executives that the National Assembly will know more than it should ,if the NABRO office was established .
All other previous senators supported the bill and it was passed through second reading and committed to the Senate committee on Budget and financial institutions.

Those who spoke on support of the bill includes senators Kawu sumaila, Ahmad Lawan, Aliyu Ndume .