Nigeria’s Senate to consider CBN nominees on Thursday -lawmaker

Nigeria’s upper house of parliament will consider on Thursday President Muhammadu Buhari’s nominees for the central bank’s interest rate-setting committee, the chairman of the Senate’s committee on banking told Reuters.

The Senate has held up some of Buhari’s nominees in a political spat which has left the central bank committee unable to form a quorum to set interest rates since the beginning of the year.

The Senate’s Banking Committee will submit its report on the matter to the house on Thursday, said its chairman, Rafiu Ibrahim.

“The report of the committee will be considered tomorrow by the Senate,” Ibrahim told Reuters.

Nigeria’s central bank has delayed its interest rate-setting meeting twice this year following a political impasse over the powers of lawmakers to confirm nominees by the president to government post.

Credit: Reuters