President Bola Tinubu has requested the Senate’s confirmation for the appointment of a chairman and members of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC).
In a letter titled “Constitution of Monetary Policy Committee for the Central Bank of Nigeria (CBN),” addressed to Senate President Godswill Akpiabio and read at plenary, President Tinubu cited the provisions of section 12 of the CBN Act 2007 for the request.
“I am pleased to present for confirmation by the Senate the underlisted 12 persons as chairman and members of the Monetary Policy Committee of the Central Bank of Nigeria,” the President stated.
The proposed chairman of the 12-member committee is Olayemi Cardoso, the CBN Governor, while the members include Muhammad Abdullahi, Bala Bello, and Emem Usoro, all CBN Deputy Governors, and Philip Ikeazor, also a CBN Deputy Governor.
Other members are Lamido Yuguda, Director General of the Security and Exchange Commission (SEC); Jafia Lydia Shehu, Permanent Secretary of the Federal Ministry of Finance; Muritala Sabo, a CBN Director; Aloysius Uche; Agu Paulin; Mustapha Akinwumi; and Bamidele Amon.
President Tinubu urged the Senate to give the request expeditious consideration.
Subsequently, the Senate President referred the letter to the Committees on Finance and Banking, Insurance, and other Financial Institutions for further legislative inputs.
They are expected to report back to plenary in one week.
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