The Central Bank of Nigeria (CBN) has announced the postponement of the 293rd meeting of the Monetary Policy Committee (MPC). The meeting was initially scheduled to take place on Monday and Tuesday, September 25 and 26, 2023.
This decision was conveyed in a press statement released by the CBN’s Director of Corporate Communications, Dr. Isa AbdulMumin. The postponement of the MPC meeting may be due to unforeseen circumstances or the need for further preparations.
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.”
The postponement of the Central Bank of Nigeria’s Monetary Policy Committee (MPC) meeting may be related to the delay in approving the newly appointed governor and deputy governors of the CBN.
President Bola Tinubu nominated Yemi Cardoso to be the head of the CBN and approved the nomination of four new deputy governors. However, the appointment of the CBN governor requires confirmation by the Senate, which is currently on an annual recess. The Senate has indicated that it will screen the governor and other CBN executives as soon as it receives an Executive Communication upon resumption from recess.
The postponement of the MPC meeting could be linked to the pending confirmation of the CBN governor and the need for the new leadership team to be in place for the meeting. The CBN has not provided specific reasons for the postponement in its statement.
