The Central Bank of Nigeria (CBN) has once again postponed the meeting of its monetary policy committee (MPC) despite the ongoing surge in inflation. Dr. Isa Abdulmumin, the CBN’s Director of Corporate Communications, conveyed this information in a response to Bloomberg on Monday.
According to Abdulmumin, the MPC meeting scheduled for Monday and Tuesday has been postponed for the second time since Olayemi Cardoso assumed the position of governor in September.
This delay will extend the anticipation for insights into Cardoso’s strategy in addressing the escalating inflation, which reached 27.33 percent in October 2023.
When questioned by The PUNCH, AbdulMumin hinted that the meeting’s rescheduling might be attributed to the upcoming Chartered Institute of Bankers of Nigeria dinner. At this event, the CBN governor is expected to unveil an economic roadmap for Nigeria.
AbdulMumin stated, “The Monetary Policy Committee meeting is not holding this week. All roads lead to the 2023 CIBN annual dinner slated for Friday, 24th.”
The event, tagged ‘The Governors Day,’ is designed to provide Cardoso with a platform to address stakeholders on the economic and financial market developments throughout the year and outline the economic outlook for the upcoming year.
