CBN fixes MPC meeting for April 3

The Central Bank of Nigeria (CBN) has announced April 3 and April 4 as dates for the first monetary policy committee (MPC) meeting in the year.

According to THISDAY, Isaac Okoroafor, CBN spokesman, said the new dates were fixed after the senate resolved to confirm the presidential nominees needed for the committee to form quorum.

“We are grateful that the senate reconsidered its stance on our nominees, given the importance of the MPC to the country’s economic well-being,” he reportedly said.

“The new dates, we hope, will give the senate the time it needs to conclude the screening and confirmation process of the nominees of the president.”

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), had earlier announced that the meeting which was earlier scheduled for March would be postponed till the first week of April.

“The MPC will certainly hold by latest the first week in April,” Emefiele had said.

“The good thing is that the main decision the MPC would have taken, which is bordering on price stability, or altering the price dynamic today, we are not seeing the need right now to alter the price mechanism.”