President Bola Tinubu has appointed the Central Bank of Nigeria Governor, Yemi Cardoso, as the chairman of the Monetary Policy Committee of the apex bank.
In a memo read on the floor of the Senate during plenary on Wednesday, the President asked the Senate to confirm the appointment.
The newly constituted MPC will hold its first policy meeting under Cardoso, between February 26 and 27.
The letter constituting the Monetary Policy Committee, read, “In accordance with the provisions of Section 12 of the Central Bank of Nigeria (CBN) Act 2007, I am pleased to present for confirmation by the Senate the appointments of the under-listed 12 persons as chairman and members of Monetary Policy Committee of the Central Bank of Nigeria.
“Olayemi Cardoso, CBN governor, chairman; Muhammad Sani Abdullahi, CBN deputy governor, member, Bala M. Bello, CBN deputy Governor (member), Emem Usoro, CBN deputy governor (member), Philip Ikeazor, CBN deputy governor (member), Lamido Yuguda, DG Securities and Exchange Commission (member), Lydia Shehu Jafiya, Permanent Secretary, Ministry of Finance (member), Muritala Sabo Sagagi, CBN director (member), Alloycius Uche Odu (member), Aku Pullen Odukemelu (member), Mustapha Akinwunmi (Member) and Bamidele A.G. Amuh (member).”
Akpabio referred the letter to the Senate Committee on Finance, Banking, Insurance and other Financial Institutions for further legislative action and to report back in one week.
Read also: CBN Sacks Entire Boards of 3 Nigerian Banks