Senate confirms Ahmad, Lametek as CBN deputy governors

Senate

The Senate on Thursday approved Aisha Ahmad and Edward Lametek for the position of deputy governors of the Central Bank of Nigeria (CBN).

The upper chamber also approved the nomination of three of the four members of the Monetary Policy Committee (MPC).

The MPC members confirmed are Prof. Adeola Festus Adenikinju, Dr Aliyu Rafindadi Sanusi and Dr Robert Chikwendu Asogwa. Dr Asheikh A. Maidugu’s nomination was rejected.

The confirmation followed the adoption of the reports by the Senate Committee ‎on Banking, Insurance and other Financial Institutions, which screened the nominees on Monday.

In the report on the MPC nominees presented by Chairman of the committee, Senator Rafiu Ibrahim, the panel said Maidugu was considered not qualified to occupy the position for which he was nominated.

“The nominee was interviewed by the committee and he responded to the questions asked by the members. However 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 directly affects the whole economy,” the report stated.

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In his remarks on the nominees, President of the Senate, Bukola Saraki, said, “At this point, let me congratulate the two nominees, particularly 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.

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“We 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 Majority Leader, Senator Ahmad Lawan, however, urged Buhari to nominate a replacement for the rejected nominee. He also urged the lawmakers to consider the President’s request for confirmation of CBN’s governing board nominees.