Nigerian president nominates seven MPC members

Central bank tightens currency restrictions as inflation continues to rise and dollar shortages continue

Central Bank of Nigeria
The Central Bank of Nigeria
Wikimedia/Commons/Godwin Paya

Nigeria’s president nominated seven people to serve on the central bank’s monetary policy committee, which has not met for several months despite rising inflation.

President Bola Tinubu asked the senate to confirm his nominees on February 14, on the same day the central bank tightened foreign exchange restrictions for international oil companies amidst continuing hard currency shortages. The 12-member MPC is due to hold its next meeting on February 26–27, but has not met or changed rates since

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