President Buhari appoints new deputy governor for CBN

President Buhari appoints new deputy governor for CBN

- Presidential spokesperson, Femi Adesina, confirms the appointment of Edward Adamu as deputy governor of the CBN

- Adamu replaces Sulaiman Barau, from Zaria, Kaduna state, who retired in December, 2017

- Naira maintains rate against Dollar, Pound and Euro

President Muhammadu Buhari has approved the appointment of Edward Adamu as the deputy governor of the Central Bank of Nigeria (CBN) in accordance with the provisions of Section 8(1) (2) of CBN Establishment Act 2007.

The appointment was contained in a letter dated January 26, 2018, to the Senate president, Bukola Saraki, The Cable reports.

Spokesman of the president, Femi Adesina, who confirmed the appointment in a statement on Thursday, February 1, said it was subject to the confirmation of the senate.

READ ALSO: Crisis hits PDP over Saraki's alleged planned return to party

The presidential aide noted that Adamu, from Gombe state, replaces Sulaiman Barau, from Zaria, Kaduna state, who retired in December, 2017.

"The nominee, who has spent 25 years in the CBN, was appointed in 2012 as Director of Strategy.

“He became Director, Human Resources in 2016, from where he was nominated as Deputy Governor," Adesina stated.

Meanwhile, the Nigerian Naira on Thursday, February 1, maintains its rate against the American Dollar which it traded at as at yesterday evening, January 31.

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According to NAIJ.com findings, the local currency maintained the rate N364 per US dollar at the parallel market but weakened against Pound.

The volume of dollars traded in the window increased by 157 percent to $321.21 million on Wednesday from $125.08 million on Tuesday, prompting the appreciation of the naira.

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Source: Naija.ng

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