Senate confirms CBN’s Monetary Policy Committee members

The Senate, on Wednesday, confirmed the nominations of seven members of the Monetary Policy Committee of the Central Bank of Nigeria.

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

Senator Uba Sani while laying the report 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 and possess the Code of Conduct Acknowledgment Slip.

He stated that 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.

While those confirmed by the Senate in the first instance include Professor Mohammed Adaya Salisu and Dr. Mo’Omamegbe, 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.

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

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