President Bola Tinubu has forwarded a letter to the Senate, urging them to confirm Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), as the Chair of the Monetary Policy Committee (MPC).
Additionally, Tinubu named Mohammed Sani Abdullahi, Bala Bello, Emem Usoro, and Philip Ikeazor, Deputy Governors of the apex bank, as members of the committee.
The president’s request, grounded in section 12 of the CBN Act, was conveyed in a letter read by Senate President Godswill Akpabio during Wednesday’s session in the red chamber.
“In accordance with the provisions of section 12 of the Central Bank of Nigeria (CBN) Act of 2007, I am pleased to present for confirmation by the Senate, the appointments of the underlisted 12 persons as chair and members of the monetary policy committee (MPC) of the CBN,” Tinubu stated in the letter.
Aside from Olayemi Cardoso, other members nominated by President Tinubu for the MPC include Lamido Yuguda, Director-General of the Securities and Exchange Commission (SEC); Jibia Shehu, Permanent Secretary of the Ministry of Finance; Murtala Sabo; Uche Wogu; Maureen Agu; Mustapha Akinwumi; and Bamidele Omo.
Upon receipt of the president’s request, Senate President Akpabio referred the matter to the Senate Committee on Banking for further legislative scrutiny and input.
