Senate confirms Cardoso, says ‘redirect fiscal policies to ensure Nigerians get out of hardship’

The Senate has called on the Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso and members of the Monetary Policy Committee, MPC of the apex bank to as a matter of urgency, use their expertise to redirect the monetary policies, the fiscal policies to ensure that Nigerians get out of the current economic quagmire, Senate to Cardoso, MPC members.

Speaking on Thursday immediately after the confirmation of Cardoso as Chairman of MPC and eleven other members, the President of the Senate, Senate, Senator Godswill Akpabio Akpabio however hailed President Bola Tinubu for selecting men and women of great expertise that will help the country with policies that would help turn around the CBN and redirect the monetary policies of the federation for the good of all Nigerians.

Akpabio said, ” I urge the MPc to use their expertise to redirect the monetary policies including even contributions to the fiscal policies to ensure that Nigerians get out of the current economic quagmire.”

Meanwhile, the Senate has confirmed the appointment of the Governor of Central Bank of Nigeria, CBN, Olayemi Cardoso as the Chairman and Members of theof the Monetary Policy Committee, MPC of the apex bank.

The Senate also confirmed eleven members of the MPC as forwarded to it by President Bola Tinubu for screening and subsequent confirmation.

Those confirmed as members are Muhammad Sani Abdullahi, CBN deputy governor, member, Bala M. Bello, CBN deputy Governor (member), Emem Usoro, CBN deputy governor (member), Philip Ikeazor, CBN deputy governor (member) and Lamido Yuguda, DG Securities and Exchange Commission (member).

Others are Lydia Shehu Jafiya, Permanent Secretary, Ministry of Finance (member), Muritala Sabo Sagagi, CBN director (member), Alloyius Uche Odu (member), Aku Pullen Odukemelu (member), Mustapha Akinwunmi (Member), Bamidele A.G. Amoh (member).

The confirmation on Thursday was sequel to the consideration of a report of the screening of the nominees presented by the Chairman, Senate Committee on Banking, Insurance & Other Financial Institutions, Senator Adetokunbo Abiru, APC, Lagos East on the Confirmation of the Nomination of tTwelve (12) persons as Members of the Monetary Policy Committee of the Central Bank of Nigeria.

According to him, “That the Senate do receive and consider the report of the Committee on Banking, Insurance & Other Financial Institutions on the confirmation of the nomination of the following Twelve (12) persons as Members of the Monetary Policy Committee of the Central Bank of Nigeria.”

President Bola Tinubu had last week written the Senate, seeking for the screening and subsequent confirmation of
12 persons as Chairman and Members of the Constitution of the Monetary Policy Committee of the Central Bank of Nigeria (CBN).

In a letter read by the President of the Senate, Senator Godswill Akpabio, President Tinubu said that forwarding the list was in accordance with the provisions of sections 12 of the Central Bank of Nigeria (CBN) 2007.

The President of the Senate had immediately referred the list to the Senate Committee on Banking, Insurance and other Financial Institutions to report back in one week.