January 19, (THEWILL) – The Central Bank of Nigeria (CBN) will hold its first Monetary Policy Committee (MPC) meeting under the leadership of Dr Olayemi Cardoso who assumed office as the CBN Governor on October 5, 2023.
To this effect, the CBN has held a two-day strategic session for members of the MPC meeting, preparatory to their first meeting under the tenure of Dr. Olayemi Cardoso as Governor, scheduled for Monday, February 26 and Tuesday, February 27, 2024.
Confirming this in Abuja on Friday, January 19, 2024, the Acting Director, Corporate Communications Department, Mrs. Hakama Sidi Ali, disclosed that the session aimed to brainstorm and engage in an in-depth discussion about the committee’s objectives.
She revealed that the critical focus areas during the retreat included deliberations on the strategic plan to effect necessary improvements in the monetary policy transmission mechanism.
According to her, the sessions were facilitated by former MPC members, monetary policy communication specialists at the IMF, and Directors of Departments critical to the MPC process.
“The valuable insights gained from these discussions will significantly contribute towards the robustness of the forthcoming MPC meetings,” she noted.
Meanwhile, a calendar of meetings of the MPC for 2024 published on the CBN website indicates that the meetings have been scheduled for February, March, May, July, September and November 2024.
The CBN held its last MPC meeting on July 24 and 25 2023.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
