The 11-member Central Bank of Nigeria’s Monetary Policy Committee (MPC) is set to convene for the first time since CBN Governor, Godwin Emefiele was suspended.
During this significant meeting, various critical issues will come under scrutiny, including the foreign exchange market, recent naira floatation, the elevated benchmark interest rate, the removal of the petrol subsidy, and the prevailing inflation rate.
Steering the proceedings will be the acting CBN Governor, Mr. Folashodun Shonubi, who will be ably supported by the seasoned members of the MPC.
These individuals boast extensive expertise in economic and financial policy matters in both public and private sectors.
The monetary policy committee of the Central Bank of Nigeria (CBN) will be meeting for the first time since President Bola Ahmed Tinubu assumed office.
Meet the members of the CBN Monetary Policy Committee.
Here is a brief profile of each of them:
Folashodun A. Shonubi – Acting Governor, Central Bank of Nigeria, Chairman
Mr. Folashodun Adebisi Shonubi is a graduate of the University of Lagos where he obtained his BSc and MSc in Mechanical Engineering. He also has a master’s in business administration (MBA) specializing in Finance.
He started his professional as a Consultant Engineer at Mek-and Associates. Over the years, he has held Executive Director positions at Ecobank and Union Bank overseeing Operations, Information Technology, and services.
Before joining the CBN as Deputy Governor of Operations in 2018, He was the Managing Director and Chief Executive Officer of the Nigerian Inter-Bank Settlement Systems (NIBSS) between 2012 and 2018.
Aisha N. Ahmad, Deputy Governor, Financial System Stability, Central Bank of Nigeria, Member
Aishah Ndanusa Ahmad CFA, graduated from the University of Abuja with a BSc degree in accounting. She also holds an MBA in Finance from the University of Lagos and an MSc in Finance and Management from the prestigious Cranfield School of Management.
Currently, a Deputy Governor, Aishah started her career at the First Interstate Bank in 2001 and rose to reach the position of Executive Director of Retail Banking at Diamond Bank Plc, from where she retired and joined the CBN in October 2017 in her present role.
She is an INSEAD Certified Board Director and a recipient of the Economic Development Certificate from the Harvard Kennedy School. She is also a Chartered Alternative Investment Analyst (CAIA) and a Chartered Financial Analyst (CFA) charter holder.
Aishah is the Chairperson of the Board for SOS Children’s Villages and WIMBIZ.
Edward L. Adamu, Deputy Governor, Corporate Services, Central Bank of Nigeria, Member
Mr. Edward Lametek Adamu assumed the role of Deputy Governor at the Central Bank of Nigeria on March 23, 2018. Armed with a Bachelor of Science (BSc.) Honors degree in Quantity Surveying from Ahmadu Bello University, Zaria, he further honed his expertise with post-graduate certifications in various disciplines.
Boasting an impressive 35-year tenure in public service, with 25 years dedicated to the Central Bank of Nigeria, Mr. Adamu has held pivotal positions, including Director of the Strategy Management Department and later the Human Resources Department.
His thirst for knowledge led him to undergo several training courses at prestigious institutions like INSEAD, IMD, Wharton, Chicago Booth, Palladium/Harvard, and the United Nations Development Programme.
Outside his professional commitments, Mr. Adamu actively engages in writing, mentoring, and community development initiatives, showcasing his commitment to making a positive impact beyond the financial realm.
Kingsley I. Obiora, Deputy Governor, Economic Policy, Central Bank of Nigeria, Member
Dr. Kingsley Obiora is a graduate of the University of Benin with a BSc. in Economics as well as a Masters’s and Doctorate in Economics from the University of Ibadan.
Dr. Obiora was appointed a Deputy Governor at the Central Bank of Nigeria on March 2, 2020. Before this, he served as an Alternate Executive Director at the International Monetary Fund (IMF) in Washington DC, USA.
His journey with the IMF began in 2007 when he secured a place through the competitive “Economist Program.” During his tenure, Dr. Obiora contributed significantly as a Technical Adviser to Nigeria’s National Economic Management Team and as a Special Assistant to President Jonathan’s Chief Economic Adviser from October 2011 to May 2014.
Following this, he served as Special Adviser on Economic Matters to the Governor of the Central Bank of Nigeria (CBN) from June 2014 to July 2018.
Festus A. Adenikinju, Department of Economics University of Ibadan, Member
Professor Adenikinju, an esteemed economist, holds a Ph.D. in Economics from the prestigious University of Ibadan, where he currently serves as a Professor of Economics.
He is actively involved in cutting-edge research, affiliating with the Centre for Econometrics and Allied Research as a Research Professor and contributing his expertise to the Macroeconomic Study Group at the University of Ibadan as a Senior Research Fellow.
His influence extends beyond academia, as he has lent his expertise to renowned organizations like the European Union, United Nations, Nigeria Liquefied Natural Gas Company (NLNG), and the African World Bank through consultancy engagements.
Professor Adenikinju’s dedication to the energy sector is evident through his roles as Vice President and President of the Nigerian Association for Energy Economics, where he actively shapes energy-related policies.
Furthermore, his experience extends to various governmental positions, including serving as a Special Assistant to the Presidential Adviser on Energy Matters and Senior Special Assistant to the President in the Office of the Chief Economic Adviser.
Aliyu R. Sanusi, Department of Economics Ahmadu Bello University, Member
Aliyu R. Sanusi’s career journey began in academia, where he took on the role of a lecturer at Ahmadu Bello University in 2000. Subsequently, he assumed the position of Special Assistant to the Chief Economic Adviser to the President, making significant contributions at the International Centre of Excellence for Rural Finance and Entrepreneurship (ICERFE).
Later, he showcased his leadership abilities as the Dean and head of the Economics department at his alma mater.
Aliyu’s academic pursuits have been remarkable. He completed his first degree and master’s in economics at Ahmadu Bello University. Seeking to broaden his horizons, he ventured to the University of Lancaster for an MSc in International Business and, ultimately, earned a Ph.D. in Economics from the same esteemed institution.
His diverse experiences and educational achievements have undoubtedly shaped his expertise in the field of economics.
Robert C. Asogwa, African Development Bank, Abuja, Member
Robert Asogwa had a stint at UNDP and African Development Bank as a Macroeconomist. He obtained a PhD, in Economics at the University of Nigeria, Nsukka.
Mike I. Obadan, Department of Economics and Statistics University of Benin, Member
Prof. Michael Obadan’s started his academic journey when he earned a degree in Economics from the esteemed University of Ibadan (UI) and later attained a Ph.D. in Economics from the same prestigious institution.
Prof. Obadan’s illustrious career has seen him occupy prominent roles both in Nigeria and internationally. Notably, he served as the Director-General of NACEMA, held the esteemed position of Dean of the Faculty of Social Sciences at UI, and chaired EPANET in Harare, Zimbabwe.
Distinguished by his membership and fellowship in esteemed professional bodies like the Nigerian Economic Society and the American Economic Association, Prof. Obadan is a renowned author, editor, and contributor to various influential books and journals.
His active participation in seminars and conferences further exemplifies his commitment to advancing economic discourse.
His remarkable contributions to national development have been duly recognized through prestigious accolades, including the Distinguished Leadership Award and Nigeria’s Best Teacher Award.
Mohammed A. Salisu, Senior Special Assistant to The President, Development Policy, Member
Dr Salisu is currently the Senior Special Assistant to the President (SSAP) on Development Policy, in the Office of the Chief of Staff to the President. Before this, he was a Senior Economic Adviser to the President of the Islamic Development Bank, in Saudi Arabia.
Momodu Omamegbe, Security & Exchange Commission, Member
Mr. Momodu Omamegbe is a seasoned professional serving as the Head of the Strategy Division at the Security and Exchange Commission of Nigeria.
With a remarkable career spanning over 15 years, he has held key roles such as Director of Strategic Planning, Director of Global Data Operations, and Senior Managing Director of Relationship Management.
He has a Ph.D. in Public Affairs from the esteemed School of Economic Sciences, along with an MBA earned from the prestigious Texas A&M University.
Mr. Momodu’s recent achievement includes supervising the development and successful implementation of the Sustainable Finance Guidelines for the Capital Market, a vital step towards promoting sustainable practices in Nigeria’s financial landscape.
Aliyu Ahmed, Permanent Secretary, Federal Ministry of Finance, Member
Aliyu Ahmed is a Permanent Secretary at the Federal Ministry of Finance and a Non-Executive Director at the CBN.
Amongst his educational accomplishments include an MSc. in Financial Economics from the University of Strathclyde, Glasgow, UK (2002), an MBA in Finance from the University of Lagos (1989), and a BSc. in Quantity Survey from Ahmadu Bello University, Zaria (1986).
In addition, he attended the National Defence College from 2009 to 2010, earning the prestigious Fellowship of National Defence College (FDC). Aliyu’s diverse expertise and impressive credentials make him a key figure in Nigeria’s financial landscape.
He has served as a Senior Advisor to the Executive Director responsible for Angola, Nigeria, and South Africa at the World Bank Headquarters in Washington DC, USA.
He also held significant roles as a Special Assistant in various offices, including the Economic Affairs Office at the Presidency, the Federal Ministry of Industry, and the Federal Ministry of Finance.