- The Monetary Policy Committee (MPC) has scheduled meetings for 2024, with the most recent meeting scheduled for February, March, May, July, September, and November.
- The MPC last met in July, under suspended former governor, Godwin Emefiele, when it raised the benchmark rate to a record high of 18.75 percent to rein in surging inflation — then at 23 percent.
The Central Bank of Nigeria’s Monetary Policy Committee will convene for its first policy meeting of the year on February 26 and 27.
This is in line with a draft agenda for the MPC meeting that was put up on the apex bank’s website.
Governor Yemi Cardoso has called six meetings this year, the first of which will take place under her direction.
The document states that the bank’s second MPC meeting will take place on March 25 and 26, 2024.
It also stated that other meetings will be held in May, July, September, and November.
The MPC last met in July, under suspended former governor, Godwin Emefiele, when it raised the benchmark rate to a record high of 18.75 percent to rein in surging inflation — then at 23 percent.
Since July, inflation has accelerated further to 28.9% — the highest in almost three decades, spurred by surging fuel costs after the government removed a gasoline subsidy, higher food prices, and a plunging naira that has raised the cost of imports.
More Details Soon…