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President Muhammadu Buhari, on Thursday, announced the nomination of Kingsley Isitua Obiora as Deputy Governor of the Central Bank of Nigeria (CBN). Femi Adesina, Special Adviser to the President on Media and Publicity, said in a statement that Obiora will replace Joseph Nnanna, CBN's Deputy Governor, Economic Policy Directorate, who will retire on February 2, 2020.

The president's spokesman said Buhari has sent a letter to Ahmad Lawan, President of the Senate, for the confirmation of Obiora. Buhari said the nomination was in accordance with the provision of Section 8(1) (2) of the Central Bank of Nigeria (Establishment) Act 2007.

According to Adesina, the nominee is currently an Alternate Executive Director at the International Monetary Fund (IMF) in Washington DC, United States of America. Obiora holds a bachelor’s degree in Economics and Statistics from the University of Benin, a master’s degree in Economics from the University of Ibadan, and a doctorate in Monetary and International Economics, also from the University of Ibadan.

If confirmed by the Senate, Obiora will replace Nnanna who has served a single term as Deputy Governor of the apex bank, following his appointed as Deputy Governor (Financial System Stability) on February 3, 2015.