Buhari accepts Adelabu disengagement from CBN as Deputy Governor

President Muhammadu Buhari has formally accepted the disengagement of the Deputy Governor in charge of Operations at the Central Bank of Nigeria (CBN), Mr. Adebayo Adelabu, with effect from July 15, 2018.

In a letter dated May 24, 2018 and personally signed by President Buhari thanked Mr. Adelabu for his services to the country and wished him the best in his future ambitions.

The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, in a statement on Thursday noted that President Buhari has stated:

“While appreciating your services in the Central Bank of Nigeria since 9th April 2014, I wish you the very best in your future ambitions and continued commitment to public service in our country and specifically, as you seek to play a more active role in politics, in your home State.”

Mr. Adelabu formally assumed duty as Deputy Governor at the Central Bank of Nigeria (CBN) on April 9, 2014 and served at different times as Deputy Governor in charge of Financial System Stability (FSS), Corporate Services (CS), and lastly Operations (Ops), before he tendered his letter of disengagement.

This is even as the Senate recently confirmed four nominees for the position of non-executive directors for the board of the Central Bank of Nigeria (CBN).

President Muhammadu Buhari had sent five names to the Senate in April but only four were confirmed on Thursday following rejection of Dr Audu Abubakar over petitions against him.

The nominees were confirmed after Rafiu Ibrahim, Chairman of the Senate Committee on Banking, presented the screening report.

Presenting the report, Ibrahim explained that the Abdu Abubakar, the nominee for North West who was not confirmed, “failed the committee’s integrity test.

“That four out of the five nominees, professor Ummu Jalingo, professor Justitia Odinakachukwu Nnabuko, professor Mike Obadan and professor Adeola Adetunji are very resourceful, diligent, articulate, competent and have the needed value for the central bank and they answered questions satisfactorily.

“The nominees have vast knowledge of the CBN Act. They have been cleared by CCB and relevant security agencies.

“One of the nominee, Dr. Abdu Abubakar failed the integrity test designed by the committee to assess.

“His response to questions lacked transparency and not worthy to be appointed into a regulatory agency like the CBN.”

But Ibrahim, upon finishing his presentation elicited and observation from the deputy Senate President, Ike Ekweremadu, who said the issues surrounding the non-confirmation of Abubakar should be revisited by the committee.

The Senate President, Bukola Saraki in his intervention also concurred with his deputy, saying that the committee should ensure that it explore all legislative avenue in determining the veracity of petitions written against the nominee.