OPINION BY ETIM ETIM: Why Olawale Edun’s new job is puzzling | TheCable
torrents of speculations on what exactly would be his job description given that monetary policy is statutorily an exclusive responsibility of central banks all over the world.
MPC is chaired by the governor and is made up of the four deputy governors and a few other distinguished economists and eminent persons with strong financial backgrounds. In Nigeria, the MPC meets every two months and its decisions are communicated to the public. Over time, the membership of MPC has been expanded to include the head of the African Development Bank office in Abuja; the Securities & Exchange Commission and the permanent secretary, federal ministry of finance.
He believes that the president will like to have total control of what happens in the economy, and so he wants a trusted ally to watch over the new CBN governor that will replace Emefiele. He said: “Emefiele was very close to President Buhari. He could walk into the villa at any time and see President Buhari at short notice. But in this era, Tinubu may not need direct interaction with the governor, and so, it is Edun that would be an intermediary between the villa and the CBN.
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