Tinubu Asks Senate to Confirm CBN Governor Cardoso as MPC Chairman

• President Bola Tinubu has asked the Senate to confirm the CBN Governor, Yemi Cardoso, as the chairman of the Monetary Policy Committee
• Senate President Godswill Akpabio read Tinubu's letter on the floor at plenary on Wednesday, February 14, 2024
• The 12-person MPC will hold its first policy meeting under Cardoso, between February 26 and 27.

Legit.ng journalist Adekunle Dada has over 5 years of experience covering metro and government policy.

FCT, Abuja - President Bola Ahmed Tinubu has written a letter to the Nigerian Senate asking the lawmakers to confirm the Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, as the chairman of the Monetary Policy Committee of the apex bank.

Senate President Godswill Akpabio read the letter on the floor at plenary on Wednesday, February 14, 2024.

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According to The Punch, the newly constituted MPC will hold its first policy meeting under Cardoso, between February 26 and 27.

“In accordance with the provisions of Section 12 of the Central Bank of Nigeria (CBN) Act 2007, I am pleased to present for confirmation by the Senate the appointments of the under-listed 12 persons as chairman and members of the Monetary Policy Committee of the Central Bank of Nigeria.”

Chairman and members of MPC

• CBN governor, Olayemi Cardoso - Chairman
• CBN deputy governor, Muhammad Sani Abdullahi - Member
• CBN deputy Governor, Bala M. Bello - Member
• CBN deputy governor, Emem Usoro - Member)
• CBN deputy governor, Philip Ikeazor Member
• DG Securities and Exchange Commission, Lamido Yuguda - Member
• Permanent Secretary, Ministry of Finance, Lydia Shehu Jafiya - Member
• CBN director, Muritala Sabo Sagagi - Member
• Aloysius Uche Odu - Member
• Aku Pullen Odukemelu - Member
• Mustapha Akinwunmi - Member
• Bamidele A.G. Amuh - Member

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As reported by Thisday, Akpabio referred the request to the Senate Committee on Banking, Insurance and other Financial Institutions for further legislative input.

Akpabio said the committee will report back to the Senate in one week.

Recovered stolen funds reportedly missing from CBN

Meanwhile, Legit.ng reported that the Socio-Economic Rights and Accountability Project (SERAP) said stolen public funds recovered between 2016 and 2019 are reportedly missing from the CBN.

SERAP said the auditor-general of the federation, Shaakaa Kanyitor Chira, has ordered the CBN to account for the missing money.

“Recovered stolen public funds between 2016 and 2019 are reportedly missing from the Central Bank of Nigeria [CBN]. The Auditor-General of the Federation wants the CBN to account for the money.”

Source: Legit.ng