CBN postpones MPC meeting indefinitely


By Temitope Adebayo

The Central Bank of Nigeria (CBN) has postponed the 293rd meeting of the Monetary Policy Committee (MPC).

No reason was given by the apex bank which made the development was announced was made in a press release by the CBN spokesman,

The Director of the Corporate Communications Department of the CBN, Dr Abdulmumin Isa in the statement noted that a new date will be communicated.

The MPC, which was scheduled for Monday and Tuesday next week, would have afforded the committee the opportunity to review the benchmark interest rate position of the CBN amidst growing inflation concern.

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Analyst expect the meeting to also serve as a validation session as President Bola Tinubu has named new governor and deputy governors for the bank, awaiting confirmation by the Senate.

It is unclear if the leadership change at the bank is the cause of the postponement.

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.

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