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Senate confirms Buhari’s 7-member MPC nominees

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Senate confirms Buhari's 7-member MPC nominees

Senate has confirmed President Muhammadu Buhari’s nominees as members of the Monetary Policy Committee, MPC of the Central Bank of Nigeria, CBN.

The confirmation of all the seven nominees followed the consideration of a report by the Committee on Banking, Insurance and Other Financial Institutions, chaired by Senator Uba Sani (APC Kaduna Central).

President Buhari, in the letter dated February 23, 2022 and addressed to the Senate President, Dr. 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 are Professor Michael Obadan, Prof. Festus Adeola Adenikinju, Prof. Aliyu Sanusi Rafindadi, Dr. Robert Asogwa and Alhaji Aliyu Ahmed.

In his presentation after laying the report, Senator Sani, said the nominees posses the academic qualifications, technical knowledge and professional experience to be members of the MPC of the CBN.

The chairman 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 State Services, DSS and possess the Code of Conduct Acknowledgment Slip.

He stated that one of the nominees, Alhaji Aliyu Ahmed is the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning and will serve as the representative of the ministry in the MPC.

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