Senate Ratifies Banire’s Appointment As AMCON Chair

The Senate Wednesday confirmed the nomination of Mr Folashodun Shonubi as the Deputy Governor of the Central Bank of Nigeria (CBN).

The Upper Chamber of the National Assembly also confirmed the nomination of former Commissioner for Transportation in Lagos State, Mr Muiz Banire, as the Chairman of the Assets Management Corporation of Nigeria (AMCON).

The confirmation of the two nominees was as a result of the adoption of the reports of the Senate Committee on Banking, Insurance and other Financial Institutions presented by its Chairman, Senator Adebayo Ibrahim.

The Senate had before proceeding on its annual vacation in July forwarded the letter from President Muhammadu Buhari nominating the two people to the committee for consideration.

Presenting the reports at plenary, Senator Ibrahim urged the Senate to confirm Shonubi’s nomination as CBN Deputy Governor in accordance with the provisions of Section 8(1) (2) of the Central Bank of Nigeria (CBN) (Establishment) Act 2007.

He said Banire was being presented for confirmation as AMCON Chairman in line with Section 10 (1) of the Assets Management Corporation of Nigeria, (AMCON) Act 2010.

Banire’s nomination, which was initially opposed by all the three senators from Lagos State, where he hails from, before the Senate went on vacation in July, had been resolved by the committee before presenting its report to the Senate Wednesday.