CBN postpones MPC meeting indefinitely

The Central Bank of Nigeria (CBN) has postponed the 293rd meeting of the Monetary Policy Committee (MPC).

No reason was given by the apex bank which made the announcement in a release by the CBN spokesman, Abdulmumin Isa.

Isa said a new date will be communicated.

The MPC, which was scheduled for Monday and Tuesday next week, would have afforded the committee to opportunity to review the hawkwish interest rate position of the CBN amidst growing inflation concern.

Analyst expect the meeting to also serve as a validation session as President Bola Tinubu has named new governor and deputy governors for the bank, awaiting confirmation by the Senate.

It is unclear if the leadership change at the bank is the cause of the postponement.

Last week Tinubu named Yemi Cardoso as the new CBN governor and Sani Ahmad Dattijo, Mrs. Emem Nnana Usoro, Mr. Philip Ikeazor, and Dr. Bala M. Bello as deputy governors.