The Central Bank of Nigeria plans to delay by a week or 10 days, its next Monetary Policy Committee meeting earlier scheduled for next week, to allow the financial regulatory body form a quorum as stipulated in the CBN Act 2007.
CBN governor, Godwin Emefiele, stated this in an interview with CNBC Africa on Thursday morning.
He said: “There will be MPC this time, it supposed to hold on the 19 and 20 of March, the Senate is in the process of screening those nominees
"We are going to have a week or 10 extensions of the date of the MPC".
He assured that; "the MPC will certainly hold by the first week in April."
The Apex Bank was unable to hold its first interest rate-setting meeting scheduled for 22-23 January 2018 due to the non-confirmation of its MPC nominees sent to the Nigerian Senate by President Muhammadu Buhari.
The development forced the Central Bank to maintain the key monetary variables as decided in the last MPC meeting of November 2017 with the Monetary Policy Rate (MPR) left unchanged at 14 percent; CRR at 22.5 percent; Liquidity Ratio at 30 percent and the Asymmetric Corridor at +200 and -500 basis points around the MPR.
