The Central Bank of Nigeria (CBN) has indefinitely postponed the 293rd meeting of the Monetary Policy Committee (MPC). The announcement was made in a release by CBN spokesman Abdulmumin Isa, without providing a specific reason. A new meeting date will be communicated in the future.
Originally scheduled for Monday and Tuesday of the following week, this MPC meeting was expected to allow the committee to assess the CBN’s firm stance on interest rates in the face of increasing inflation concerns. Additionally, analysts anticipated that the meeting would validate President Bola Tinubu’s recent appointments of a new governor and deputy governors for the CBN, pending confirmation by the Senate.
The exact cause of the postponement, whether related to the leadership changes at the bank or not, remains unclear. Last week, Tinubu announced Yemi Cardoso as the new CBN governor and nominated Sani Ahmad Dattijo, Mrs. Emem Nnana Usoro, Mr. Philip Ikeazor, and Dr. Bala M. Bello as deputy governors.
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