While the duo of Aisha Ahmad and Edward Adamu were confirmed as Deputy Governors of the CBN, the trio of  Professor Adeola Festus Adenikinju; Dr Aliyu Rafindadi Sanusi and Dr Robert Chikwendu Asogwa were confirmed as members of the Monetary Policy Committee (MPC).

The confirmation followed the consideration and adoption of the report of the Senate committee on Banking, Insurance and other financial institutions chaired by Senator Rafiu Ibrahim (APC,Kwara).

Our correspondent reports that to fast track the transmission of the confirmation to the presidency, the Senate approved the votes and proceedings of yesterday. The Senate adjourned for 10 minutes and returned to approve the votes and proceedings.

The committee’s recommendation that Dr Asheikh A. Maidugu, a nominee for the MPC be rejected was unanimously approved. Maidugu, is a serving director of the Federal Inland Revenue Service (FIRS).

Senator Ibrahim said: “ The nominee was interviewed by the Committee and he responded to the questions asked by the Members but the Committee was dissatisfied with his response to the independence required for each Member of the MPC.

“ Concerned that a regular Civil Servant Iadened with bureaucracy and red-tapism may not be independent in his judgment on each crucial decision of the MPC that affect directly the whole economy.”

Senate leader, Ahmad Lawan drew the attention of the senate to the fact that a quorum has not been formed in the MPC with Maidugu’s rejection.

He urged his colleagues to allow for the consideration of the board members of the CBN, saying two members of the MPC are among the board nominees.

In his remark, the Senate President, Bukola Saraki said the confirmation of the nominees was in line with the promised made last week.

He said the issue of the board members of the CBN that are still pending would be looked at next week.

“ I am sure it will boost the morale within the institution. I want to congratulate the management and Mr. President, and all those who have been involved in this entire process.

“ We hope that the two new Deputy Governors will work with the Governor to move the country and our economy in the right direction. We hope also, that you all will continue to work closely with the National Assembly to update us on the progress that is achieved by the Central Bank,” he said.

With the confirmation, the CBN would hold MPC meeting early April for the first time in 2018 after suspension of the Janauary meeting due to lack of quorum.

Senate leader, Ahmad Lawan drew the attention of the senate to the fact that a quorum has not been formed in the MPC with Maidugu’s rejection. He urged his colleagues to allow for the consideration of the board members of the CBN, saying two members of the MPC are among the board nominees.

In his remark, the Senate President, Bukola Saraki said the confirmation of the nominees was in line with the promised made last week.

He said the issue of the board members of the CBN that are still pending would be looked at next week.

“ I am sure it will boost the morale within the institution. I want to congratulate the management and Mr. President, and all those who have been involved in this entire process.