The Senate yesterday rescinded on its decision to put on hold confirmation of Presidential nominees, as it finally agreed to screen and confirm the appointment of two deputy governorship nominees of the Central Bank of Nigeria, CBN as well as nominated members of the Monetary Policy Committee, MPC of the apex bank.
It, therefore, mandated its Committee on Banking, Insurance & Other Financial Institutions chaired by Senator Rafi u Ibrahim (APC, Kwara South) to proceed with the process in the interest of economic development of the country.
It would be recalled that the confirmation of President Muhammadu Buhari’s appointment of two CBN deputy governors, Aisha Ahmad and Edward Adamu, and other persons into its MPC was withheld because of the existing impasse between the executive and the legislative arms of government.
However, Senator Ibrahim who raised the issue under Point of Order 42 and 52 on matter of urgent national importance of the Senate Standing Rule, appealed to his colleagues to give exception to the confirmation of nominees into the committee since it has to do wiTheconomy.
He explained that the action became necessary in order to save the nation’s monetary system and the economy at large from major setback as the next meeting of the MPC holds on March 19 and 20, 2018.
“I rise on the issue pertaining to a very significant aspect of the country’s economy.
I know from inception of the 8th Senate that the 8th Senate is pro-economy, pro-foreign direct investment, pro-foreign controlling investment.
“We are all aware that in January, because of the resolution of this Senate, that all confirmation according to all Acts of the National Assembly pending with us should be suspended forthwith.
“I rise to ask that the Senate do consider the possibility of us taking the very important aspect of the economy which is the Monetary Policy Committee (MPC),” he said.
Deputy Senate President Ike Ekweremadu said it was important that the upper legislative chamber reconsider its stand in respect of confirmation of Presidential nominees, pleading that “we should make this exception so that our economy does not collapse.
” In his remarks, the Senate President, Dr. Bukola Saraki, said the Upper House would always give priority to the nation’s economy and urged Senator Ibrahim led committee to ensure a speedy completion of the confirmation process.
He said: “Let me acknowledge and thank my colleagues for the statesmanship role you continue to play.
This has been a chamber that has always been for the issue of the economy and for us to do all it takes to continue to ensure we see investments, ease of doing business and give confidence.
“In as much as we continue to defend the institutions and the constitution, it is time we look at the priorities and understand what is important.