Senate Approves Cardoso And Yuguda Alongside 10 Additional Members For MPC Positions

Senate Approves Cardoso And Yuguda Alongside 10 Additional Members For MPC Positions....KINDLY READ THE FULL STORY HERE▶

Under the leadership of Godswill Akpabio, the 10th Senate confirmed the appointment of 12 individuals as members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Thursday. The confirmation followed the consideration of a report by the Committee On Banking, Insurance, and other Financial Institutions during the plenary session……….CONTINUE READING

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This confirmation of new MPC members coincides with the upcoming policy meeting of the apex bank, scheduled for February 26 and 27, 2024, marking one of the early actions under the tenure of the new CBN governor.

The confirmed members include Olayemi Cardoso as the Chairman, Muhammad Sani Abdullahi, Bala M. Bello, Emem Usoro, Philip Ikeazor, Lamido Yuguda, Jafiya Lydia Shehu, Murtala Sabo Sagagi, Aloysius Uche Ordu, Aku Pauline Odinkemelu, Mustapha Akinwumi, and Bandele A.G. Amoo.

In November 2023, Cardoso, appointed as the CBN Governor by President Bola Tinubu in September 2023, expressed dissatisfaction with the effectiveness of MPC meetings under his predecessor, Godwin Emefiele. He highlighted that the CBN Act 2007 mandates quarterly MPC meetings, and the bank had met this requirement for the year 2023.

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