• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, August 9, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

How To Save Naira, Avert Food Crisis – MPC Nominees

by Sunday Isuwa
1 year ago
in News
Share on WhatsAppShare on FacebookShare on XTelegram

To avert naira volatility and food insecurity in Nigeria, members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) have suggested targeted measures at the exchange rate and not Inflation as being done without result.

Advertisement

The Senate yesterday subjected the nominees to a thorough drilling on the economy.
President Bola Tinubu had last week, forwarded to the Senate for confirmation, names of nominees into the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN).
In giving the request expeditious consideration and ahead of the MPC meeting slated for Monday next week, the Senate through its Committee on Banking, Insurance and other Financial Institutions, drilled six of the nominees on solutions to forex volatility and food crisis.

First to face the committee, was the director-general of the Securities and Exchange Commission (SEC), Alhaji Lamido Yuguda, who said his nomination into MPC would give SEC the needed voice in monetary policy.
He lamented that the value of the naira as it is today, is not real, having lost its intrinsic value but that the MPC, when inaugurated on Monday, would join other stakeholders to get it stabilised.
Value of any currency is measured by the goods and services that it can buy, the Naira as it is today, does not possess that value sufficiently which is being critically looked into“, he said.
In his own submission, the nominee from Lagos State, Dr Mustapha Akinkunmi, said the way out is to target the exchange rate and not Inflation as being done without much result.
More proactive ways of addressing the naira volatility problem at hand, is for the CBN to target the exchange rate itself and not Inflation.
The inflation the country is facing now is largely that of food inflation, which is beyond CBN but for the entire country.

Production and distribution of food commodities across the country, would help to reduce the food inflation, while aggressive target of exchange rate, would help to stabilize the Naira with required increase in productivity“, he said.
In a similar submission, the nominee from Imo State, Mrs Aku Odinkemelu, said productivity is the key to arresting the volatility of Naira and food inflation.

Other nominees, drilled at the session by the committee, were Professor Murtala Sagagi from Kano State, Bamidele Amoo from Kwara State and Alloysius Uche Ordu, who worked with the World Bank and Africa Development Bank for 30 years at different times.
In his closing remarks, the chairman of the committee, Senator Tokunbo Abiru (APC, Lagos East), told the nominees that their screening was done ahead of the MPC meeting slated for Monday next week by the CBN.

RELATED

Kano Governor Begins Probe Of Ganduje

Kano Gov Sacks 2 Aides Over Drug Baron’s Bail, Palliative Diversion

5 minutes ago
JUST-IN: Professor Adamu Appointed New Acting VC Of Yakubu Gowon Varsity

JUST-IN: Professor Adamu Appointed New Acting VC Of Yakubu Gowon Varsity

18 minutes ago

We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




SendShareTweetShare
Previous Post

Bills For North Central, South West Commissions Pass Second Reading

Next Post

Sustaining FUDMA’s Growth

Sunday Isuwa

Sunday Isuwa

Sunday Isuwa is an award winning journalist with over 15 years of experience. Currently at LEADERSHIP Media Group, he has published thousands of articles that have helped in shaping Democracy, Good Governance in Nigeria, Africa and the world at large. His Twitter handle is @IsuwaSunday 

You May Like

Kano Governor Begins Probe Of Ganduje
News

Kano Gov Sacks 2 Aides Over Drug Baron’s Bail, Palliative Diversion

2025/08/09
JUST-IN: Professor Adamu Appointed New Acting VC Of Yakubu Gowon Varsity
Education

JUST-IN: Professor Adamu Appointed New Acting VC Of Yakubu Gowon Varsity

2025/08/09
Adewole, Azuike Emerge Winners Of Cowbellpedia Quiz Competition
News

Adewole, Azuike Emerge Winners Of Cowbellpedia Quiz Competition

2025/08/09
Ex-Gov Daniel Raises Alarm Over Quit, Demolition Notices On Properties In Ogun
News

Ex-Gov Daniel Raises Alarm Over Quit, Demolition Notices On Properties In Ogun

2025/08/09
Niger Nationalises Sole Industrial Goldmine, Accuses Australian Operator Of ‘Breaches’
News

Niger Nationalises Sole Industrial Goldmine, Accuses Australian Operator Of ‘Breaches’

2025/08/09
BREAKING: Ex-PDP Chairman Audu Ogbeh Dies At 78
News

BREAKING: Ex-PDP Chairman Audu Ogbeh Dies At 78

2025/08/09
Leadership Conference advertisement

LATEST

Kano Gov Sacks 2 Aides Over Drug Baron’s Bail, Palliative Diversion

JUST-IN: Professor Adamu Appointed New Acting VC Of Yakubu Gowon Varsity

Adewole, Azuike Emerge Winners Of Cowbellpedia Quiz Competition

Ex-Gov Daniel Raises Alarm Over Quit, Demolition Notices On Properties In Ogun

Niger Nationalises Sole Industrial Goldmine, Accuses Australian Operator Of ‘Breaches’

BREAKING: Ex-PDP Chairman Audu Ogbeh Dies At 78

FIFA U-20 WWCQ: Falconets Head Coach Invites 35 Players For Rwanda Clash

NANPF Appoints CSP Chijioke As Director Of Players’ Safety And Security

NPFL Youth League: Remo Stars, Ikorodu City pick Ikenne Zone Tickets

John Utaka Named Head Coach Of Montpellier Women’s Team

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.