The Central Bank of Nigeria is set to conduct its Monetary Policy Meeting on February 26 and 27, 2024, as disclosed by the bank in an exclusive one-page document.
This meeting marks the first under the leadership of Yemi Cardoso, who took over from the embattled Godwin Emefiele.
An updated calendar of meetings now includes the scheduled dates for the first meeting and subsequent gatherings. However, the composition of the committee remains pending, BusinessDay reports.
According to the Central Bank of Nigeria Act of 2007, which outlines the functions and responsibilities of the Monetary Policy Committee (MPC), the committee plays a pivotal role in aligning monetary policy with the broader economic goals of the country. Mandated to implement measures contributing to price stability, the MPC supports the overall economic policy objectives of the Federal Government.
In accordance with the provisions outlined in the CBN Act, the MPC is obligated to convene at least four times annually. The Act stipulates that the governor, or in the governor’s absence, the deputy governor responsible for monetary policy, has the authority to call a meeting, provided a notice of not less than seven days is given.
