The appointments of two Deputy Governors of the Central Bank of Nigeria, and three members of the monetary policy committee (MPC), have been confirmed by the Senate, paving the way for next month’s meeting of the MPC to go ahead as scheduled.
Although President Buhari had nominated four candidates for the MPC positions, Senate rejected the appointment of one candidate; Dr. Asheikh Maidugu, on the grounds that he is still an active civil servant, and his appointment would contravene the constitutional requirement for the job.
The two candidates confirmed for the positions of Deputy Governors are, Mrs. Aishah Ahmad, and Mr. Edward Adamu, while those confirmed for the MPC positions are; Professor Adeola Adenikinju, Dr. Aliyu Sanusi, and Dr. Robert Asogwa.
Thursday’s confirmation of the President’s nominees was sequel to senate’s consideration of the report of its committee on banking, insurance, and other financial institutions, on the confirmation of the candidates who were screened last Monday by the committee.
Presenting the report at plenary, Chairman of the committee, Senator Rafiu Adebayo explained the rationale behind the rejection of Dr. Asheikh Maidugu’s nomination, noting that, “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 Laden 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.”
Applause for President
Senator Adebayo also applauded President Muhammadu Buhari for appointing Mr. Edward Adamu as one of the newest Deputy Governors of the apex Bank. Mr. Adamu is a retired Director from the Central Bank of Nigeria but got the President’s nod for a fresh appointment at the highest decision making level in the bank, and the Senate is very happy with the development.
“He is somebody who understands the system, and was part of many strategic initiatives and policy drafting in the CBN. And now he is appointed by the President after retirement as a Director, to now come and be a Deputy Governor. We saw that as very good, and with all his experience, he is going to be of immense value to the system,” he stressed.
1999 Constitution Amendment
Also on Thursday, the Senate in plenary, received the report of the conference committee on the review of the 1999 constitution on the constitution Alteration Bills, 2018, while a Bill seeking to amend the Industrial Development (Income Tax Relief) Act, 2018, passed second reading.