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Fri, Dec

CBN Postpones MPC Meeting Till Further Notice

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The Central Bank of Nigeria, CBN, has indefinitely postpones its 293rd meeting of the Monetary Policy Committee (MPC) that was slated for next week. Although there was no reason given for the postponement by the apex bank, as at the time it made the decision known through its public Relation Officer, Abdulmumini Isa. Isa told newsmen that a new date will be communicated in due course when fixed.

The MPC meeting which was slated for Monday and Tuesday next week would have given the committee the chance to review the mystery surrounding interest rate in Nigeria and the position of the CBN amidst the growing inflation and constant nose-diving of the naira. 

Analyst expect the meeting would have also serve as a validation session as President Bola Tinubu has appointed a new governor and deputies for the apex bank, though awaiting confirmation by the Senate.
Others speculate that change in the management of the CBN might have triggered the postponement so that it can afford them time to asquint themselves with most of the rules before coming public. 

Last week Tinubu named Yemi Cardoso as the new CBN governor and Sani Ahmad Dattijo, Mrs. Emem Nnana Usoro, Mr. Philip Ikeazor, and Dr. Bala M. Bello as deputy governors of the apex bank after he send Godwin Emifele packing due to some allegations hanging over his neck.