CBN Postpones Monetary Policy Committee’s Meeting

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The Central Bank of Nigeria (CBN) has announced the postponement of its 293rd Monetary Policy Committee (MPC) meeting, earlier scheduled for Monday and Tuesday next week.

The CBN’s Director of Corporate Communications, Dr. Isa AbdulMumin, stated that a new date would be announced for the very important meeting in which members of the committee, including the Managing Directors/CEOs of Deposit Money Banks to take critical decisions, once in two months, on lending and other rates as they relate to the financial system.

The spokesman expressed the monetary authorities’ regret any inconvenience the change of the MPC meeting’s date may cause all stakeholders and the general public.

Although, the Director did not specify any reason for the postponement of the committee’s meeting analysts believe that the postponement may not be unconnected with the changes in the leadership of the apex bank announced by President Bola Tinubu about a week ago.

It would be recalled that last week the President nominated Dr. Olayemi Michael Cardoso for appointment as the CBN Governor as well as four individuals to serve as Deputy Governors of the bank.

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