The Senate of Nigeria has confirmed the members of the CBN's Monetary Policy Committee

 The Senate of Nigeria has confirmed the members of the CBN's Monetary Policy Committee The Senate has confirmed the appointment of 12 p...

 The Senate of Nigeria has confirmed the members of the CBN's Monetary Policy Committee

The Senate has confirmed the appointment of 12 people as members of the Monetary Policy Committee of the Central Bank of Nigeria (CBN).

The confirmation comes after the completion of the study of the report of the committee on banking and insurance and other financial institutions during its general meeting held today Thursday.

The confirmation of the new members of the committee comes a few days before the first meeting of the central bank on policies under the new governor of the cbn bank. The meeting between the 26th and 27th of February that we are in has been postponed.

The committee members include:

1. Olayemi Cardoso – President

2. Muhammad Sani Abdullahi - Member

3. Bala M. Bello – Member

4. Emem Usoro – Member

5. Philip Ikeazor – Member

6. Lamido Yuguda - Member

7. Jafiya Lydia Shehu – Member

8. Murtala Sabo Sagagi – Member

9. Aloysius Uche Ordu – Member

10. Aku Pauline Odinkemelu – Member

11. Mustapha Akinwumi – Member

12. Bandele A.G. Amoo - Member

Last month, Cardoso, who was the new governor of the Central Bank of Nigeria appointed by President Bola Tinubu in September last year, said the monetary policy committee did not work properly under the one man in charge, Godwin Emefiele. .

"For a long time, the meeting of the monetary policy committee is not working properly", according to him, adding that "the CBN Bank Management Act of 2007 requires the meeting of the committee to be held 4 times a year and the bank has fulfilled this rule in 2023.

He emphasized that "we will focus on ensuring that such meetings are effective and work properly."