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HomeBusinessSenate renews appointment of 5 members of MPC, confirms 2 new members

Senate renews appointment of 5 members of MPC, confirms 2 new members

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Seven nominees of President Mohammadu Buhari to join the Monetary Policy Committee of the Central Bank of Nigeria (CBN) were confirmed on Wednesday by the Senate.

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

The Chairman of the committee, Senator Uba Sani, presented and laid the report.

President Buhari had in the letter addressed to the President of the Senate, Ahmad Lawan, dated February 23, 2022, had requested for the confirmation and membership renewal of the seven nominees, based on the provision of Section 12(4) of the Central Bank Act, 2007.

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

The other five members whose appointments were renewed are Michael Obadan, Festus Adeola Adenikinju, Aliyu Sanusi Rafindadi, Robert Asogwa and Aliyu Ahmed.

Sani, in his presentation, said the nominees possessed the academic qualifications, technical knowledge and professional experience to be members of the MPC.

He also noted that the committee 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 Bureau acknowledgment Slip.

Sani also noted that one of the nominees, Aliyu Ahmed, is the Permanent Secretary, the Federal Ministry of Finance, Budget and National Planning, who will serve as the representative of the ministry in the MPC.

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