CBN postpones MPC meeting indefinitely

• A new date will be communicated in due course
• Apex bank did not provide any reason for the postponement

The Central Bank of Nigeria has postponed the Monetary Policy Committee’s 293rd meeting, which was scheduled for Monday and Tuesday, September 25 and 26, 2023.

This was according to a press statement by the bank’s Director of Corporate Communications, Dr Isa AbdulMumin, on Thursday.

The statement read, “The Monetary Policy Committee of the Central Bank of Nigeria has deferred its 293rd meeting scheduled for Monday and Tuesday, September 25 and 26, 2023, respectively.

“A new date will be communicated in due course. We regret any inconvenience this change may cause our stakeholders and the general public.”

Although the apex bank did not provide any reason for the postponement, it is likely connected to the delay in approving the newly appointed governor and deputy governors of the bank.

Earlier, President Bola Tinubu nominated Yemi Cardoso to head the CBN.

Tinubu also approved the nomination of four new deputy governors of the apex bank to serve for a similar duration of five years in the first instance, pending their confirmation by the Senate.

The nominees are Emem Usoro, Muhammad Abdullahi-Dattijo, Philip Ikeazor, and Bala Bello.

However, the appointment of the CBN governor is subject to confirmation by the Senate, which is still on an annual recess.

The Senate spokesperson and the chairman, the Senate Committee on Media and Publicity, Yemi Adaramodu, said recently that the Senate would screen the governor and other executive of the CBN as soon as it gets an Executive Communication to that effect upon its resumption from its annual recess.