The Senate, on Thursday, confirmed the twelve members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN).
The confirmation, which was done at plenary, was sequel to the consideration of the report of Senate Committee on Banking, Insurance and Other Financial Institutions presented by the Chairman, Senator Adetokunbo Abiru (Lagos East).
Those confirmed are Olayemi Cardoso, CBN Governor (Chairman) and four Deputy Governors of the apex bank: Muhammad Sani Abdullahi, Bala M. Bello, Emem Usoro and Philip Ikeazor.
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),.
Senator Abiru noted that the committee did not receive any petition against any of the nominees, adding that the CBN governor and his deputies, who were screened and confirmed recently before their appointments needed not be screened again.
Senate President Godswill Akpabio in his remarks congratulated those confirmed and urged them to use 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.
