Senate confirms Cardoso as CBN’s MPC chair, okays 11 members 

The Senate, on Thursday, confirmed the nominations of 12 members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) following the consideration of a report by the Committee on Banking, Insurance and Other Financial Institutions.

CBN Governor, Olayemi Cardoso, was confirmed as MPC chairman.

Also confirmed as members are: Muhammad Sani Abdullahi, CBN deputy governor; Bala M. Bello, CBN deputy governor; Emem Usoro, CBN deputy governor; Philip Ikeazor, CBN deputy governor and Lamido Yuguda, DG Securities and Exchange Commission.

Others are: Jafiya Lydia Shehu, Permanent Secretary, Ministry of Finance; Murtala Sabo Sagagi, CBN director; Alloycius Uche Ordu, Aku Pullen Odukemelu, Mustapha Akinwunmi and Bamidele A.G. Amoo.

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President Bola Ahmed Tinubu, in a letter addressed to the Senate President Godswill Akpabio, asked the Red Chamber to confirm the nominees.

Tinubu said his action was in line with the provisions of Section 12 of the Central Bank of Nigeria (CBN) Act 2007.

The Chairman of the Senate committee, Senator Adetokunbo Abiru (APC, Lagos), in his presentation, said the nominees possessed the academic qualifications, technical knowledge and professional experience to be members of the MPC of the CBN.

He said the panel did not receive any petition against their nominations, adding that the nominees were all cleared by the security agencies.