The Central Bank of Nigeria (CBN) has, for the second consecutive time, deferred the Monetary Policy Committee (MPC) meeting initially scheduled for Monday and Tuesday.
The MPC meeting, responsible for setting critical monetary rates, has not taken place since the last session on July 25, almost four months ago, according to the schedule published on the bank’s website.
The newly appointed CBN governor, Olayemi Cardoso, who assumed office in September, is yet to preside over the MPC meeting. The official announcement did not provide a specific date for the rescheduled meeting.
Investors have been keenly awaiting the MPC meeting for insights into the central bank’s approach to addressing the nation’s inflationary trends. The last MPC meeting in July maintained the benchmark lending rate at 18.75%.
Isa Abdulmumin, the spokesperson for the CBN, confirmed that the MPC meeting is not taking place but did not specify the next scheduled date. Analysts and stakeholders will be monitoring for updates on the central bank’s monetary policy decisions.