7 Members of CBN’s monetary policy committee confirmed by senate

Economists forecast lending rate hike ahead of MPC meeting

The Senate has confirmed the nominations of seven members of the Monetary Policy Committee of the Central Bank of Nigeria (CBN).

The confirmation of the nominees followed the consideration of a report by the Committee on Banking, Insurance and Other Financial Institutions.

A statement CBN revealed that the report was laid and presented by the Chairman of the Committee, Senator Uba Sani.

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President Muhammadu Buhari had in a letter to the Senate explained that the confirmation and membership renewal request was made pursuant to Section 12(4) of the Central Bank Act, 2007.

Those confirmed by the Senate include Professor Mohammed Adaya Salisu and Dr. Mo’Omamegbe – both of whom are new appointments. 

The other five Members of the Committee for renewal are Professor Michael Obadan, Prof. Festus Adeola Adenikinju, Prof. Aliyu Sanusi Rafindadi, Dr. Robert Asogwa and Alhaji Aliyu Ahmed. 

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Senator Uba Sani, in his presentation, said the nominees posses the academic qualifications, technical knowledge and professional experience to be Members of the Monetary Policy Committee of the Central Bank of Nigeria.

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He told his colleagues that the Senate Committee on Banking did not receive any petition against their nominations.


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