one year after it resolved that nominees of President Muhammadu Buhari not captured in the 1999 Constitution (as amended), will no longer be considered, following a statement credited to Vice President, Professor Yemi Osinbajo, Senate made a U-turn, yesterday.
After a closed-door meeting, which lasted for more than 30 minutes, the Red Chamber said it will consider and confirm nominees to fill vacant positions in the Central Bank of Nigeria (CBN).
Key among the president’s nominations that have been kept in view by the Senate, as a result of the impasse, include two nominees for the position of deputy governors of the CBN and four members of the apex bank’s Monetary Policy Committee (MPC).
Besides the CBN, other nominations, including those of heads and board members of the Pension Commission (PenCom), Independent Corrupt Practices and other related offences Commission (ICPC), National Lottery Regulatory Commission (NLRC), Federal Roads Maintenance Agency (FERMA), were also kept in abeyance.
The MPC is an engine room for the effective delivery of the functions of the CBN and it holds meetings twice a month and six times a year.
When it failed to hold the January 2018 meeting, CBN Governor, Mr. Godwin Emefiele, said an earlier scheduled MPC meeting slated for January 22-23 was cancelled due to the bank’s inability to form a quorum, as stipulated in the CBN Act, 2007.