Nigerian Apex Bank to hold meeting without Governor for first time in 9 years

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By Bintu Jidda
Kanempress
18th July 2023

The Central Bank of Nigeria, CBN, plans to hold its Monetary Policy Committee meeting next Monday and Tuesday for the first time without the banks’ suspended governor, Godwin Emefiele.

In a post on its website, the meeting is expected to be held at CBN’s headquarters in Abuja.

Monetary Policy Committee, CBN’s highest policy-making organ, will make significant decisions on Nigeria’s rising inflation of 22.79 per cent, challenges in the foreign exchange market and other issues affecting the economy.

It will be recalled that in the MPC’s last meeting in May, the Bank increased the Monetary Policy Rate to 18.5 from 18 per cent in the previous month to mitigate rising inflation.

Former Governor Emefiele was suspended in June by President Bola Ahmed Tinubu’s government.