Real Reason Urum Eke Rejected Tinubu’s CBN Board Nomination

Potential conflict of interest and related reasons arising from his many attachments to Nigerian banks has been given as the real reason Urum Kalu Eke rejected President Bola Tinubu’s nomination to the Central Bank of Nigeria, CBN Board of Directors, GWG.ng has learnt authoritatively.

It would be recalled that Senator Orji Kalu who represents him in the Senate had said on Thursday that  Urum Kalu Eke rejected his nomination to the CBN board because he is currently engaged by the World Bank.

However, a senator also from the Southeast and very familiar with the situation countered and told GWG.ng that the reason had to do with Urum Eke’s ties with Nigerian banks.

He said:

“I think the real reason was not given by the story and what was said on the floor of the senate.

“He spoke with me and said his reason was that his private business is already involved in syndicating loans for state govts and other institutions with banks in Nigeria.

“The conflict comes from the fact that a Nigerian bank seeing that he is in the CBN board may not want to offend him and give loans without doing due diligence. Also may feel that if they reject a loan that his company is arranging may feel that they would be punished by the CBN through his push.

“In addition he is a member of the top mgt of the Institute of Directors of Nigeria and one of the things they preach about is reduction of using insider knowledge to profit themselves in business.

“For these many reasons he declined.”

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