The Nigerian Senate has confirmed the appointment of Olayemi Cardoso as the chairman of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN).

Alongside Cardoso, the Senate also approved the appointments of several individuals as members of the MPC.

The other confirmed members include:

Muhammad Sani Abdullahi – CBN Deputy Governor

Bala M. Bello – CBN Deputy Governor

Emem Usoro – CBN Deputy Governor

Philip Ikeazor – CBN Deputy Governor

Lamido Yuguda – DG Securities and Exchange Commission

Jafiya Lydia Shehu – Permanent Secretary, Ministry of Finance

Murtala Sabo Sagagi – CBN Director

Alloycius Uche Ordu

Aku Pullen Odukemelu

Mustapha Akinwunmi

Bamidele A.G. Amoo

The confirmations follow President Bola Tinubu’s nomination of Cardoso as chairman and the other individuals as members of the MPC.

In his letter to the Senate, President Tinubu cited Section 12 of the Central Bank of Nigeria (CBN) Act 2007 as the basis for the nominations.

The MPC plays a crucial role in formulating monetary and credit policies for the country.