CBN to hold MPC meeting without Emefiele for first time in 9 years

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

CBN disclosed this on Monday in a notice posted on its website.

The meeting is expected to be held at CBN’s headquarters in Abuja.

MPC, 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.

Recall 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.

Emefiele was suspended as the Governor of CBN in January by President Bola Ahmed Tinubu’s government.