Buhari Names Salami, Soludo, Rewane, To 8-Man Economic Advisory Council

After over four years, President Muhammadu Buhari, on Monday in Abuja, finally announced the appointment of an eight-man Economic Advisory Council (EAC) to be chaired by. Prof. Doyin Salami (56), an economist, Lagos Business School faculty and two-term member of the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC).
The council, which replaces the current Economic Management Team (EMT), chaired by Vice President Yemi Osinbajo, a lawyer, will now report directly to the President.
Members of the council include: Prof. Charles Chukwuma Soludo (59), CBN Governor, between 2003 and 2007, who undertook the banking sector consolidation that saw the capital base of Nigerian banks jerked up from less than N2bn to N25bn, resulting in an avalanche of mergers and acquisitions; Bismarck Rewane, an economist, who is chief executive of Financial Derivatives Limited; and Dr. Mohammed Sagagi, who is Vice Chairman of the council.
Others are: Prof. Ode Ojowu (71), Professor of Economics and Chief Executive of the National Planning Commission/Chief Economic Adviser to President Olusegun Obasanjo between 2004 and 2005; and Dr. Shehu Yahaya, former Executive Director of the African Development Bank (AfDB), member of the CBN MPC, interim managing director, now chairman, Development Bank of Nigeria. Dr. Iyabo Masha, another member, was until recently the International Monetary Fund (IMF) representative in Sierra Leone; and Dr. Mohammed Adaya Salisu, Senior Special Assistant to the President on Development Policy, who will serve as the Council’s Secretary.
Members of Osinbajo’s EMT, which met weekly, included the Ministers of Finance, Budget and National Planning; State for Budget and National Planning; Industry, Trade and Investment; Agriculture; Information and Culture; the CBN Governor; Special Adviser to the President on Economic Matters; as well as the Directors-General, Budget Office; Debt Management Office; and National Bureau of Statistics.

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