Senate Confirms Seven Nominees of CBN’s Monetary Policy Committee

The Nigerian Senate on Wednesday, confirmed seven nominees named as members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN).

The confirmation of the nominees followed the consideration of a report by the Committee on Banking, Insurance and Other Financial Institutions.

The report was laid and presented by the Chairman of the Committee, Senator Uba Sani (Kaduna Central).

Recall, President Muhammadu Buhari, had in a letter, dated February 23, 2022 and addressed to Senate President Ahmad Lawan, explained that the confirmation and membership renewal request was made pursuant to Section 12(4) of the Central Bank Act, 2007.

Those confirmed by the Senate include Professor Mohammed Adaya Salisu and Dr Mo’Omamegbe – both of whom are new appointments.

The other five members of the Committee for renewal  of appointment are Professor Michael Obadan, Prof. Festus Adeola Adenikinju, Prof. Aliyu Sanusi Rafindadi, Dr Robert Asogwa and Alhaji Aliyu Ahmed.

In his presentation, Senator Uba Sani, said the nominees possess the academic qualifications, technical knowledge and professional experience to be Members of the Monetary Policy Committee of the Central Bank of Nigeria.

The law maker disclosed that the Senate Committee on Banking did not receive any petition against their nominations, adding that the nominees were all cleared by the Nigeria Police Force, Department of State Services and possess the Code of Conduct Acknowledgement Slip.

According to him, one of the nominees, Alhaji Aliyu Ahmed is the Permanent Secretary, the Federal Ministry of Finance, Budget and National Planning and will serve as the representative of the Ministry in the Monetary Policy Committee.