Presidency, Senate rift affecting economy, says LCCI


Anna Okon

The Lagos Chamber of Commerce and Industry has observed that the ongoing disagreement between the Senate and the Presidency over the confirmation of nominees for the heads of some government institutions and members of special committees and boards is beginning to take its toll on the economy.

The President, LCCI, Mr. Babatunde Ruwase, made this observation in Lagos on Wednesday during a media briefing on the state of the economy and the nation.

He said, “For instance, the Central Bank of Nigeria suspended its first Monetary Policy Committee meeting in 2018 scheduled for January 22 and 23 due to the bank’s inability to form a quorum as a result of non-confirmation of the newly appointed MPC members by the Senate.

“The MPC has the mandate to review economic and financial conditions in the economy; determine appropriate stance of policy in the short to medium-term;…

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