CBN Holds First MPC Meeting with New Governor
By Patience Ikpeme
The Central Bank of Nigeria (CBN) is set to host its first Monetary Policy Committee (MPC) meeting under the leadership of the new Governor, Olayemi Cardoso.
The meeting will take place in Abuja on Monday, February 26 and Tuesday, February 27, 2024.
To prepare for the crucial meeting, the CBN recently organized a two-day strategic session for the members of the MPC.
This session is aimed at providing a platform for brainstorming and in-depth discussions regarding the committee’s objectives.
The Acting Director of the Corporate Communications Department, Mrs. Hakama Sidi Ali, confirmed the session in Abuja on Friday.
During the retreat, there was a strong focus on improving the monetary policy transmission mechanism, among other critical areas.
The sessions were facilitated by former MPC members, experts in monetary policy communication from the International Monetary Fund (IMF), and directors of CBN departments critical to the MPC process.
Mrs. Hakama Sidi Ali expressed optimism that the valuable insights gained from the strategic session would significantly contribute to the robustness of the upcoming MPC meetings.
She emphasized the importance of these discussions in shaping the future monetary policies of Nigeria.
In addition, the CBN has published the calendar of MPC meetings for the year 2024 on its official website. According to the schedule, meetings are planned for February, March, May, July, September, and November.
The first MPC meeting of the year holds particular significance as it signals Governor Olayemi Cardoso’s debut in guiding Nigeria’s monetary policy.
Analysts and market participants will keenly watch the outcomes of the meeting, as it will provide insights into the new governor’s priorities and strategies to drive economic growth and stability.
The monetary policy decisions taken by the MPC will play a critical role in shaping the country’s financial landscape. With the new governor at the helm, the financial community eagerly awaits the outcomes of this inaugural meeting under his leadership.
