Presidency Recommends Nnanna for CBN Deputy Governor’s Job

Following the exit of Dr. Kingsley Moghalu as a Deputy Governor of the Central Bank of Nigeria (CBN) at the end of his five-year term, THISDAY learnt on Sunday that the presidency had recommended a former director of research at the CBN, Dr. O.J. Nnanna for the job.

THISDAY gathered that on resumption of plenary session by the Senate last Tuesday, Deputy Senate President, Senator Ike Ekweremadu, who presided over the session, announced on the floor of the Senate, the receipt of a letter from President Goodluck Jonathan forwarding Nnanna’s name as nominee for screening and approval of the Senate for appointment as a deputy governor of the CBN.

According to the source, Nnanna’s name has already been sent to the Senate Committee on Banking and Currency for screening.

Nnanna, a former director of research at the CBN also used to be the Special Assistant to the CBN Governor from 1994 to 1999.

Before then, he was a staff economist and desk officer in the African Department of the International Monetary Fund (IMF) in Washington DC.

He graduated from the William Paterson University (New Jersey) and the University of Houston, Texas, United States

Nnanna holds degrees, majoring in public policy and economics.
Meanwhile, Moghalu in an e-mail to THISDAY said it was a great honour and privilege to serve the country.

According to him, on completion of his term as deputy governor of the CBN he would be moving on to other endeavours.

“I joined the CBN in November 2009 after a 17-year career in the United Nations and later founding and heading Sogato Strategies South Africa, a global strategy and risk advisory firm in Geneva, Switzerland.

“For most of my five years at CBN, I was deputy governor for Financial System Stability, and for a few months, served as deputy Governor for Operations. I was a member of the Bank’s Board of Directors, the Monetary Policy Committee, and the Committee of Governors, and served as chairman or member of the board of the Nigerian Export-Import Bank (NEXIM), the Financial Institutions Training Centre (FITC), the Securities and Exchange Commission of Nigeria (SEC) and the Asset Management Corporation of Nigeria (AMCON).

“I look forward to the future with confidence and thanksgiving to God, and trust that new vistas and horizons lie ahead. For now, after a tumultuous five years in which the  CBN played a defining role in reshaping Nigeria’s financial industry, stabilising Nigeria’s banking sector and maintaining monetary and price stability, I will take some rest and spend more time with my family.

“In that relaxed mode, I will review the various options and possibilities that are being presented to me, and then make a decision on precise future directions,” he added.