President Muhammadu Buhari has sent the name of Dr. Kingsley Isitua Obiora to the Senate for confirmation as Deputy Governor of the Central Bank of Nigeria (CBN)
The nomination was contained in a statement by Buhari’s media aide, Femi Adesina which circulated on Thursday, in Abuja.
Obiorah, an erudite economist is being tipped as the next Deputy Governor, Economic Policy at the CBN and would replace Joseph Nnanna -who retires on February 2, 2020- when his nomination is finally approved by the Senate.
In a letter to President of the Senate, Ahmad Ibrahim Lawan, President Buhari said the nomination was in accordance with the provision of Section 8(1) (2) of the Central Bank of Nigeria (Establishment) Act 2007.
Obiora holds a Bachelor’s degree in Economics and Statistics from the University of Benin, a Masters in Economics from the University of Ibadan, and a Doctorate in Monetary and International Economics, also from the University of Ibadan.
He is currently an Alternate Executive Director in the International Monetary Fund (IMF) In Washington DC, United States of America.
In this capacity, he is a member of the 24-Seat Executive Board, collectively responsible for conducting the daily operations of the IMF.
He also assists to represent the interests of 23 African Countries, including Nigeria, at the IMF Board. He joined the IMF through the globally-competitive “Economist Program” in 2007 and has worked on various countries in Europe, Africa, and Asia.
Between October 2011 and May 2014, Obiora simultaneously served as Technical Adviser to the Nigeria’s National Economic Management Team and was also a Special Assistant to the President Jonathan’s Chief Economic Adviser.
From June 2014 until July 2018, he served as Special Adviser on Economic Matters to the Governor of the Central Bank of Nigeria (CBN).
In this capacity, he contributed significantly to the overall analytical and policy work of the CBN and led the team of several Technical Aides attached to the Governor’s Office.
His extensive international and domestic economic experiences were critical in helping the Bank understand the ramifications of, and deal with spillovers from, the external shocks emanating from the significant drop in global oil prices. He led the team that built the macroeconomic model underlying President Buhari’s Economic Recovery and Growth Plan (ERGP).
Obiora equally holds several Certifications including; Management of Central Banks from the Federal Reserve Bank of New York; Financial Development, Regulation, and Growth; Financial Programming and Policies; Econometric Modeling and Forecasting all from the IMF Institute, Washington DC.
He also had a Ph.D Course in Econometrics (Full Semester) at the George Washington University, Washington DC, among several others.