Posted by On Thursday, the Senate of Nigeria approved Mr. Olayemi Cardoso’s nomination to chair the Monetary Policy Committee (MPC) of the Central Bank of Nigeria. The MPC will convene on Monday.
Four CBN Deputy Governors—Phillip Ikeazor, Emem Usoro, Bala M. Bello, and Muhammad Sani Abdullahi—have been confirmed to serve on the committee.
Bandele A. G. Amoo, Alloycius Uche Ordu, Aku Pullen Odukemelu, Mustapha Akinwunmi, and Lamido Yuguda are among the other individuals present. Jafiya Lydia Shehu is the permanent secretary of the ministry of finance. Murtala Sabo Sagagi is the director of the central bank.
After the Senate Committee on Banking, Insurance, and other Financial Institutions’ report was adopted during plenary, Senator Adetokunbo Abiru (APC Lagos East), who chairs the committee, confirmed their appointments.
Senator Abiru stated in his presentation that the candidates met the requirements for membership on the CBN’s MPC in terms of education, expertise, and work experience.
All of the applicants had received clearance from the relevant security agencies, he added, and the panel had not received any petitions challenging their nominations.
Speaking on behalf of the Senate, Senator Jibrin Barau, who serves as Deputy President, praised the committee’s diligent work in addressing the economic issues that the country is presently confronting.
The nominees, he said, “have outstanding track records, wonderful pedigrees that they can do this job properly,” and “they fit into the requirements needed to perform the functions prescribed for them.” His reasoning was based on this evidence.
While praising the committee’s prompt response to the president’s request, Senate President Godswill Akpabio emphasized the applicants’ credentials, experience, and knowledge to argue that they should be appointed to the MPC.
On top of that, he praised President Tinubu for “appointing men and women with experience and expertise to help turn around the nation’s economy and with the hope that they will use their expertise to redirect the economy for the accelerated growth and development of the country.” It was