Tinubu seeks Senate confirmation of Cardoso, other MPC members

PRESiDENT Bola Tinubu has asked the Senate to confirm the appointment of the Central Bank of Nigeria (CBN) governor, Olayemi Cardoso, as chairman of the Monetary Policy Committee (MPC).

The President also requested that the Senate confirm four deputy governors of the apex bank, namely Mohammed Abdullahi, Bala Bello, Emem Usoro, and Philip Ikeazor as committee members.

Other members of the MPC appointed by Tinubu are 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.


Tinubu’s request was contained in a letter read by Senate President Godswill Akpabio during plenary on Wednesday, February 14.

The President, in the letter, said the request is in line with section 12 of the CBN Act (2007).



    “By 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 under-listed 12 persons as chair and members of the monetary policy committee (MPC) of the CBN.

    “While hoping that the request will receive the expeditious consideration of the Senate, please accept the distinguished Senate President, the assurance of my highest regards”, the letter read.

    Akpabio then referred the request to the Senate Committee on Banking, Insurance, and Other Financial Institutions for further legislative input. The committee is to report back in one week.

    In a recent report, The ICIR raised concerns over the proposed removal of some of the external members of the MPC, which some analysts said could signal possible interference in the country’s core decisions on monetary policies and currency management.

    Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.

    Join the ICIR WhatsApp channel for in-depth reports on the economy, politics and governance, and investigative reports.

    Support the ICIR

    We invite you to support us to continue the work we do.

    Your support will strengthen journalism in Nigeria and help sustain our democracy.

    If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation


    Please enter your comment!
    Please enter your name here

    Support the ICIR

    We need your support to produce excellent journalism at all times.

    - Advertisement


    - Advertisement