3rd June, 2013
The Ag. Managing Editor,
Premium Times
Our attention has been drawn to the
libelous story posted on your website
on 2nd June, 2013, on the Governor of
the Central Bank of Nigeria (CBN), and
which has now been circulated by other
online websites and blogging groups.
The post was full of fabrication and
inaccuracies. Ordinarily this would
have been best ignored. We are however
constrained to write to you on account
of the severe implications of the
allegations for the integrity of the
CBN, as an institution.
It is also important to reaffirm our
long-standing commitment to due
process and international best
practice in the discharge of every
aspect of our statutory mandate.
We wish to state that CBN is an equal
opportunity employer, which prides
itself with having female members of
staff that possess the highest
qualifications, competencies and
skills. It is rather reprehensible for
anyone to cast such aspersions on the
qualifications and integrity of our
female staff.
In the publication, you made the
following false allegations:
1. That Dr. Maryam Yaro is a staff of
the CBN at the level of Assistant
Director and that she was recruited
without due process, as she was not
qualified for the role.
2. That the CBN Governor introduced Dr.
Yaro to the CBN and exerted pressure
on the Human Resources Department to
recruit her.
We wish to state the fact as follows:
1. Dr. Maryam Yaro is not, and has
never been an employee of the
Central Bank of Nigeria. She was one
of four consultants (three of whom
were male), hired by the Nigeria
Incentive-based Risk-sharing System
for Agricultural Lending (NIRSAL)
Plc; on a one year contract,
renewable on the basis of
satisfactory performance. NIRSAL Plc
is a special purpose vehicle (SPV)
set up by the Federal Government of
Nigeria, through a partnership
between the CBN and the Federal
Ministry of Agriculture and Rural
Development (FMARD).
2. In the course of establishing
NIRSAL, the Hon. Minister of State
for Agriculture and Rural
Development, through a formal
letter, recommended Dr. Yaro to
participate in the project as a
Specialist on Rural Finance Access.
3. Dr. Yaro was hired after a rigorous
selection process conducted by the
the NIRSAL Project Implementation
Office. This clearly contradicts the
claim that Dr. Yaro was brought in
by the CBN Governor.
4. Contrary to allegation that the
Governor expedited recruitment of
Dr. Yaro, the PIO’s recommendation
to hire her as a Consultant, was
written on March 30, 2012 but only
received final approval on June 20,
2012.
5. It is pertinent to add that Dr.
Yaro’s academic qualifications and
experience eminently qualify her for
the job. She is a Doctor of
Veterinary Medicine (DVM), who
speaks three Nigerian languages, and
has extensive experience working
with farmers across the country on
different agricultural programmes.
She has also been a consultant to
the Food and Agricultural
Organization (FAO); and was one of
the experts working in the National
Programme on Food Security before
she was engaged by NIRSAL.
6. Please find attached, the relevant
documents in support of the facts
stated above and we hope you will
give this the same publicity you
gave your initial story.
We have noted that the other
allegations in the post border on the
person of the CBN Governor and are
consistent with previous attacks. In
line with the Governor’s usual
practice of not responding to these
libelous comments on his person, we
have decided not to respond.
The CBN shall remain resolute in the
pursuit of its statutory mandates
regardless of any attempt to distract
the institution or its officers.
Thank you
Ugochukwu A. Okoroafor
Director, Corporate Communications,
Central Bank of Nigeria
Reacting to the statement, , Premium Times
Acting Managing Editor, Idris Akinbajo,
said the paper is standing firmly by its
story.
“We knew the story was going to shock
a lot of people. We were under no
illusion that Nigerians would
hurriedly swallow the bitter truth of
the revelations made in the story. We
have discharged our responsibility of
providing information we believe
citizens need to hold officials
accountable.
“Our job is done, as we will only
continue to provide additional
information as necessary. It is left
for Nigerians to either demand
accountability or live with, and
celebrate the indiscretions of their
leaders.
“We stand firmly by our story and look
forward to the moment the CBN Governor
will boldly look Nigerians in the face
and say the things we reported in that
story did not happen.”
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