Senate Rejects MPC Nominee, Confirms 2 CBN Deputy Govs

BY EDMOND ODOK, ABUJA – The Nigerian Senate on Thursday confirmed three nominees submitted by President Muhammadu Buhari for appointment as members of the Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC).

However, the upper Legislative Chamber rejected the nomination of Dr Asheikh Maidugu as MPC member, citing his lack of independence as a civil servant.

Among those cleared and confirmed for duties by the Senate are Professor Adeola Adenikinju, Dr Robert Asogwa and Dr Aliyu Sanusi.

Also, the red chamber confirmed Mrs Aisha Ahmad and Mr Edward Adamu nominations for appointment as CBN’s Deputy Governors.

The Senate confirmation followed the consideration and adoption of its Committee on Banking, Insurance and other Financial Institutions’ screening report.

On March 14, 2018, the Senate, through its President, Dr Bukola Saraki, had mandated the Committee to screen the nominees submitted by President Buhari late last year but put on hold due to the face-off between the Executive and Legislature over the non-confirmation of Ibrahim Magu as EFCC Chairman.

Chairman of the Senate Committee, Senator Rafiu Ibrahim Adebayo, who presented the report during plenary, said the decision reject Dr Maidugu’s nomination was based on the Committee’s dissatisfaction with his response to the dependence required for each member of the MPC.

Senator Adebayo said Maidugu is considered unqualified for the position, saying; “The committee is concerned that a regular civil servant laden with bureaucracy may not be independent in his judgment on each crucial decisions of the MPC that affect directly the whole economy.”

According to him, “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 and concerned that a regular civil servant Iaden 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.”

Speaking on the nominees’ confirmation, the Senate President, Bukola Saraki, said, “At this point, let me congratulate the two nominees, particularly Mr. Edward Lamatek Adamu whose upliftment to a Deputy Governor will be a great encouragement to the staff of the CBN who will see one of their own in this position. I am sure it will boost the morale within the institution.

“Let me also commend and congratulate Mrs Aishah Ahmad for her nomination to this very competitive role. The two new Deputy Governors of the CBN are coming at a time when the economy is a major issue. We have just come out of a recession and we need to continue with our economic growth and see the sustainability of the foreign exchange and other related challenges.”

Senator Saraki expressed the hope that “the two new Deputy Governors will work with the Governor (Dr Godwin Emefiele) 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 CBN”, the Senate President said

In his remarks, the Senate Majority Leader, Ahmad Lawan, urged the President to nominate a replacement for the rejected nominee.

Senator Lawan also charged the Senators to consider the President’s request for confirmation of nominees for the CBN’s governing board.