The Senate has confirmed the twelve members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its plenary on Thursday.
By Haruna Salami
The Senate has confirmed the twelve members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its plenary on Thursday.
The confirmation was sequel to the consideration of the report of its Committee on Banking, Insurance & Other Financial Institutions presented by the Chairman, Senator Adetokunbo Abiru (Lagos East).
Those confirmed are Olayemi Cardoso, CBN Governor (Chairman) and 4 Deputy Governors of CBN: Muhammad Sani Abdullahi, Bala M. Bello, Emem Usoro and Philip Ikeazor as mmembers.
Other members are Lamido Yuguda, Jafiya Lydia Shehu, Murtala Sabo Sagagi, Aloysius Uche Ordu, Aku Pauline Odinkemelu, Mustapha Akinwumi and Bandele A.G. Amoo.
The confirmation followed their nomination by President Bola Tinubu in a letter to the Senate on February 14, 2024.
The President’s request was referred to the committee on Banking, Insurance & Other Financial Institutions on which screened the nominees.
The Chairman of Committee, Adetokunbo Abiru, while presenting the report said the committee found all the nominees adequately qualified and that they were cleared by the Nigeria Police and the Department of State Service (DSS), adding that the committee did not receive any petition against any of the nominees.
Abiru also said the CBN governor and the 4 deputy governors who were screened and confirmed recently before their appointments needed not to screened again.
The Senate President, Godswill Akpabio in his remarks congratulated those confirmed and urged them to used their wealth of experience in the financial sector to turn around monetary policy of the country, especially taking into consideration the current challenges facing the country.
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