Senate confirms appointment of seven MPC members

The senate has confirmed the appointment of seven members of the monetary policy committee (MPC) of the Central Bank of Nigeria (CBN).

The upper chamber announced the confirmation on Wednesday.

The appointment of the nominees followed the consideration and adoption of the report by the senate committee on banking, insurance, and other financial institutions on the nominees.

Uba Sani, chairman of the committee, presented and laid the report.

President Muhammadu Buhari had asked the senate to confirm the appointment of two new MPC members and approve the reappointment of five others.

The two new members are Mohammed Salisu and Moa Omamegbe, while Michael Obadan, Festus Adenikinju, Aliyu Sanusi Rafindadi, Robert Asogwa and Aliyu Ahmed were reappointed.

According to Sani, these nominees possessed the academic qualifications, technical knowledge and professional experience to be members of the MPC.

He also said the committee did not receive any petition against their nominations, adding that the nominees were all cleared by the Nigeria Police Force, department of state services, and possess the code of conduct bureau acknowledgement slip.

Sani further added that one of the nominees, Aliyu Ahmed, is the permanent secretary, the federal ministry of finance, budget and national planning, who will serve as the ministry’s representative in the MPC.

The senate also passed bills seeking to establish a Nigerian Council on Economic Diversification and a National Tax Crimes Commission for second reading.