CBN Postpones Monetary Policy Committee Meeting

The Central Bank of Nigeria (CBN) earlier today rescheduled its Monetary Policy Committee (MPC) meeting for November.

Naija News Understands That The meeting, which is going to be the last for 2018, was earlier scheduled for Monday and Tuesday, November 19 and 20 respectively.

But, CBN spokesperson, Isaac Okorafor, said in a statement sent to PREMIUM TIMES the meeting has been rescheduled to Wednesday and Thursday, November 21 and 22 respectively.

Mr Okorafor said the decision to reschedule the meeting followed the declaration of Tuesday, November 20 as public holiday by the Federal Government.

“The CBN regrets any inconvenience this change may have caused its stakeholders and the general public,” Mr Okorafor said.

The committee is a special arm of the CBN constituted with a mandate to facilitate the attainment of price stability through the formulation of monetary and credit policy to support the economic policy of the Federal Government.

Membership of the MPC consists of the CBN governor as chairman, with the four deputy governors, and two members of the Board of Directors of the CBN.

Other members include three appointees by the president as well as two others appointed by the CBN governor.

The meeting of the MPC Is usually held over two days every two months, with the last one held on Monday and Tuesday, September 24 and 25 respectively in Abuja.