The United Nations General Assembly’s Fifth Committee has recommended the reappointment of former Central Bank of Nigeria (CBN) Deputy Governor, Dr Sarah Alade, to the UN Investments Committee.
Dr Sarah Alade.
The recommendation, approved by acclamation on Friday, will see Alade serving another three-year term beginning Jan. 1, 2027, subject to confirmation by the general assembly.
The fifth committee, responsible for administrative and budgetary matters, is chaired by Nigeria’s Permanent Representative to the UN, Amb. Jimoh Ibrahim.
Alade is among five candidates recommended for confirmation as regular members of the nine-member investments committee, which advises the UN Secretary-General on investment strategy.
The recommendations followed nominations submitted by the secretary-general under Article 20 of the Regulations of the United Nations Joint Staff Pension Fund.
Under the provisions, the secretary-general appoints members after consultations with the United Nations Joint Staff Pension Board and the Advisory Committee on Administrative and Budgetary Questions.
The appointments are, however, subject to confirmation by the general assembly, giving member states the final responsibility for endorsing the nominees.
During Friday’s meeting, Ibrahim presented the nominations and sought the committee’s agreement to recommend the five regular members and the ad hoc member.
With no objection raised, the committee approved the recommendations by acclamation, clearing the way for their consideration by the general assembly.
The investments committee advises the secretary-general on investment strategies and reviews investments undertaken on behalf of the United Nations Joint Staff Pension Fund.
The fund provides retirement, disability and related benefits to eligible staff members and beneficiaries of participating United Nations organisations.
The committee’s responsibilities consequently place its members within the UN’s framework for safeguarding pension investments and promoting sound long-term financial management.
Alade, an economist and experienced financial administrator, previously served as CBN Deputy Governor in charge of Economic Policy from 2007 until her retirement in 2017.
She also served briefly as Acting Governor of the apex bank in 2014, following which she resumed her responsibilities as deputy governor.
In November 2019, late former President Muhammadu Buhari appointed her as Special Adviser on Finance and the Economy.
Alade holds a bachelor’s degree in Economics, a master’s degree in Commerce, and a doctorate in Management Science, with extensive experience in monetary policy and financial administration.
She is not a first-time nominee to the UN Investments Committee, having previously secured general assembly confirmation for a term beginning Jan. 1, 2024.
That appointment, along with those of the other four regular members recommended on Friday, is due to expire on Dec. 31, 2026.
Her recommended reappointment will, therefore, witness the continuation of Nigerian professionals’ participation in the UN’s specialised pension investment advisory structure.
The decision also comes as Nigeria chairs the influential, which oversees the world body’s administrative and budgetary affairs.
The general assembly is expected to consider the committee’s recommendations under its established appointment procedures. (NAN)
