Update: CBN Deputy Govs, MPC Members Assume Duty

Caption: Moses Tule, Director, Monetary Policy Department, of the Central Bank of Nigeria (CBN); new members of the Monetary Policy Committee (MPC) Dr. Aliyu Rafindadi Sanusi and Dr. Robert Asogwa, MPC members; CBN Deputy Governors, Lametek Edward Adamu and Adebayo Adelabu (Operations); CBN Governor, Godwin Emefiele; Deputy Governors, Dr. Okwu Joseph Nnanna, (Financial System Stability); and Mrs. Aisha Ahmad; Prof. Adeola Festus Adenikinju, another MPC member; as well as Mrs. Alice Karau, Actingg Director, Corporate Secretariat, CBN; at the CBN Head Office, Abuja, on Wednesday, March 28, 2018, following the assumption of duty of the new Deputy Governors and MPC members
Photo Credit: Isaac Okorafor, Acting Director, Corporate Communications Department, CBN.

Speaking after the screening and confirmation of the new deputy governors and MPC members on March 22, Senate President, Dr. Bukola Saraki, while thanking members of the Senate committee on Banking, Insurance and Other Financial Institutions and wishing the MPC members a fruitful and successful tenure, noted that the “exercise will allow the central bank continue to play its role in providing stability in our economy.”
On the comment by the Senate Leader, Senator Ahmed Lawan, that the MPC is not fully constituted because of the rejected nominee, Senator Saraki said the issue will be revisited when the Senate reconvenes next week.
Commenting specifically on Adamu who was appointed Deputy Governor from his position as Director, Human Resources at the apex bank, Saraki said it “will be great encouragement to the staff of the CBN who will see one of their own in this position. I am sure it will boost the morale within the institution.”
While also congratulating Mrs. Ahmad, he said “the two new Deputy Governors of the CBN are coming at a time when the economy is a major issue. We have just come out of a recession and we need to continue with our economic growth and see the sustainability of the foreign exchange and other related challenges.
“We hope that the new new Deputy Governors will work with the Governor to move the country and our economy in the right direction,” he stressed.
He urged the CBN management to continue working closely with the National Assembly to update the nation’s legislators “on the progress that is achieved.”