Senate Extends Tenure of Prof Obadan, Others in CBN’s MPC

March 23, 2022
Prof Obadan

By Aduragbemi Omiyale

Professor Michael Obadan and six others have been confirmed as members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN).

Prof Obadan, an existing member of the committee, was nominated with the others by President Muhammadu Buhari and on Wednesday, the Senate approved their nominations.

The others confirmed were Professor Mohammed Adaya Salisu, Dr Mo’Omamegbe (new members), Professor Festus Adeola Adenikinju, Professor Aliyu Sanusi Rafindadi, Dr Robert Asogwa and Mr Aliyu Ahmed (old members).

At the plenary today, the Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Mr Uba Sani, said they possess the academic qualifications, technical knowledge and professional experience to be members of the MPC of the apex bank.

He disclosed that the Senate Committee on Banking did not receive any petition against their nominations, adding that the nominees were all cleared by the Nigeria Police Force, Department of State Services (DSS) and possess the Code of Conduct Acknowledgment Slip.

Mr Sani stated that one of the nominees, Mr Aliyu Ahmed, is the Permanent Secretary of the Federal Ministry of Finance, Budget and National Planning and will serve as the representative of the Ministry in the MPC.

Recall that on February 23, 2022, President Buhari, in the letter addressed to the Senate President, Mr Ahmad Lawan, explained that the nomination was made pursuant to Section 12(4) of the Central Bank Act, 2007.

Aduragbemi Omiyale

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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