Seven candidates nominated by President Muhammed Buhari for membership of the Monetary Policy Committee of the Central Bank of Nigeria were today confirmed by the Senate.
The Senate Committee on Banking, Insurance and Other Financial Institutions had screened the candidates and presented a report on them on the floor of the Senate, clearing the way for their confirmation.
President Buhari had on February 23, 2022, in a letter to the Senate President Ahmed Lawan, urged the lawmakers to confirm the candidates in line with the provisions of Section 12 (4) of the Central Bank Act, 2007.
The seven appointees of the MPC cleared by the Senate include: Professor Mohammed Adaya Salisu and Dr. Mo’Omamegbe. The two candidates are newly nominated to the Committee by President Buhari.
Others whose names were forwarded for renewal are Dr. Robert Asogwa (from Enugu State), Professor Michael Obadan, Prof. Festus Adeola Adenikinju, Prof. Aliyu Sanusi Rafindadi, and Alhaji Aliyu Ahmed.
Chairman of the Senate Committee on Bank, Insurance and Other Financial Institutions, Senator Uba Sani, remarked that candidates have the requisite academic qualifications and robust experience to be appointed as members of the revered MPC.
With this screening and confirmation, the CBN’s Monetary Policy Committee is now appropriately constituted and can go about their monetary policy functions efficiently and effectively.
Sani noted that the Senate Committee received no petitions from members of the public against their nominations, remarking that they all scaled through security checks conducted by the Department of State Services, the Nigeria Police Force, among others.
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.