Date: 2018-03-15

Worried by the state of the economy, the Senate yesterday resolved to commence screening of nominees from the executive.

It approved that the nominees for the positions of Deputy Governor of the Central Bank of Nigeria and members of the Monetary Policy Committee (MPC) be screened for confirmation as part of efforts to improve the state of the economy.

This followed a point of order raised by the Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Rafiu Adebayo Ibrahim, at yesterday's plenary.

Ibrahim, in his observation, appealed to the Upper Chamber to consider a concession for the MPC because of its significance to the nation's economy.

The legislator said the non-confirmation of the deputy governors of the CBN and members of the MPC was negatively affecting the economy, especially foreign investments.

The lawmakers unanimously granted the prayer.

The President of the Senate, Dr Bukola Saraki, consequently directed the Senate Committee on Banking, Insurance and other Financial Institutions chaired by Senator Rafiu Ibrahim to conduct screening for the nominees.

The Herald recalls that President Muhammadu Buhari had forwarded the names of the nominees as CBN Deputy Governors and members of the MPC for confirmation, but the request was stood down.