CBN to hold first MPC meeting in 2024

The Central Bank of Nigeria (CBN) will hold its first Monetary Policy Committee (MPC) meeting on February 26th and 27th.

This is according to a tentative MPC meeting calendar signed by the apex bank’s Director of MPD.

According to the document, the bank will hold its second MPC meeting on the 25th and 26th of March, 2024.

The CBN in September and November 2023 postponed its MPC meeting amid the resumption of Mr. Yemi Cardoso.

This is the second time the financial regulator has postponed the MPC meeting since Cardoso became the governor of the apex bank.

According to the CBN calendar, the 294th MPC meeting is slated for between November 20 and November 21, 2023.

The CBN’s MPC is the highest policy-making committee of the bank set up to review economic and financial conditions in the economy, determine appropriate stance of policy in the short to medium term.

The committee is also tasked with reviewing the CBN monetary policy framework, and adopting changes when necessary.

Its meeting is critical to the price stability functions of the central bank as it determines interest rates to curb the persistent rise in inflation.

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