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The Senate has greenlit the appointment of 12 individuals to serve as members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). This crucial development, following a report from the Committee On Banking, Insurance, and Other Financial Institutions, sets the stage for the upcoming policy meeting scheduled for February 26 and 27, 2024.

Among the confirmed members are notable figures such as Olayemi Cardoso, Muhammad Sani Abdullahi, and Lamido Yuguda. Their appointment comes amidst calls for enhanced effectiveness of MPC meetings, with Cardoso emphasizing the need for more impactful deliberations.

However, economist Bismarck Rewane advocates for increased MPC meetings beyond the required four times annually to address pressing economic challenges, including inflation.

This confirmation signals a pivotal moment in Nigeria's economic policymaking, with implications for monetary strategies and financial stability moving forward.

See list below:
  • Olayemi Cardoso – Chairman
  • Muhammad Sani Abdullahi – Member
  • Bala M. Bello – Member
  • Emem Usoro – Member
  • Philip Ikeazor – Member
  • Lamido Yuguda — Member
  • Jafiya Lydia Shehu – Member
  • Murtala Sabo Sagagi – Member
  • Aloysius Uche Ordu – Member
  • Aku Pauline Odinkemelu – Member
  • Mustapha Akinwumi – Member
  • Bandele A.G. Amoo – Member