Kingsley Obiora: 8 things to know about new CBN deputy governor

Kingsley Obiora: 8 things to know about new CBN deputy governor

- President Muhammadu Buhari nominated Dr Kingsley Obiora as the new deputy governor of CBN on Thursday, January 16

- Obiora would replace the current occupier of the seat, Joseph Nnanna, who is due for retirement

- Until his nomination, Obiora was working with the International Monetary Fund

President Muhammadu Buhari on Thursday, January 16 nominated Kingsley Obiora as the new deputy governor of the Central Bank of Nigeria (CBN).

A statement issued by the presidential spokesman, Femi Adesina, indicated that the president had already forwarded a letter nominating Obiora to the president of the Senate, Ahmad Lawan.

Kingsley Obiora: 9 things to know about new CBN deputy governor
Dr Obiora (left) has been in the corridors of power for a while now. Photo source: Twitter
Source: Facebook

Legit.ng writes on 8 key things to know about the new CBN deputy governor

1. Dr Kingsley Obiora is an Alternate Executive Director at the International Monetary Fund (IMF) in Washington DC, USA. 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 board.

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2. He joined the IMF through the globally-competitive “Economist Program” in 2007 and has worked on various countries in Europe, Africa, and Asia. He has done extensive work on exchange rate assessment, debt sustainability analyses, decoupling and spillovers, real sector analyses, as well as several reviews of financial sector assessments.

3. Prior to joining the IMF, he worked at the West African Monetary Institute in Accra, Ghana and the Centre for Econometric and Allied Research, University of Ibadan

4. Between October 2011 and May 2014, Dr Obiora simultaneously served as a technical adviser to Nigeria’s National Economic Management Team as well as special assistant to President Jonathan’s chief economic adviser. During this time, he played key roles in helping shape the country’s economic policies on several fronts, including on energy subsidies, power sector reform, measurement of job creation, architecture of development financing, diversification of the economy, oil price benchmarking in the budgetary process, regulatory framework for doing business, port reform, and asset-based economic mapping and modelling.

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5. Dr Obiora contributed to the preparation of several presidential speeches, economic updates, reviews, talking points, and analytical notes for presidential retreats. He also led different teams to author several books, chronicling numerous reforms in the Nigerian economy.

6. From June 2014 until July 2018, Dr Obiora 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 ides attached to the governor’s office.

7. He led the team that built the macroeconomic model underlying President Buhari’s Economic Recovery and Growth Plan (ERGP).

8. Dr Obiora has a first degree from the University of Benin and post-graduate degrees in Economics from the University of Ibadan. He also has certifications from Federal Reserve Bank of New York, IMF Institute, George Washington University, among others

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Meanwhile, the International Monetary Fund has mandated Equatorial Guinean President Teodoro Obiang Nguema Mbasogo, to declare his assets before the nation receives more financial support.

Mbasogo, 77, is the world’s longest-serving ruler and his country currently needs financial aid to stave off a debt crisis.

The country needs an IMF bailout to deal with a crisis that shrank its economy by a third to $13 billion last year.

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