Senate confirms five CBN nominees, rejects one

The Senate has confirmed the appointment of Mrs. Aisha Ahmad and Mr. Edward Adamu as substantive deputy governors of the Central Bank of Nigeria (CBN), along with three members of the Monetary Policy Committee (MPC).

The confirmed members of the MPC are Professor Adeola Festus Adenikinju; Dr. Aliyu Rafindadi Sanusi; and Dr. Robert Chikwendu Asogwa, while the nomination of Dr. Asheikh Maidugu, was rejected.

Their confirmation has put to an end the high level of suspense that heralded the nomination of some of the appointees prior to the screening exercise.

The confirmation has given a fresh hope for the resumption of regular meetings of CBN’s monetary policy members and a renewed confidence for investors, after two consecutive meetings were called off for lack of quorum.

The continued rejection of Maidugu, according to CBN, was on the ground that his present position as “a regular civil servant ladened with bureaucracy and red-tapism may not be independent in his judgment on each crucial decision of the MPC that affects directly the whole economy.”