CBN to hold 2-day monetary policy committee meeting

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CBN to hold 2-day monetary policy committee meeting

The Central Bank of Nigeria, CBN, has scheduled the next Monetary Policy Committee (MPC) meeting between Monday and Tuesday next week.

In a notice shared on Twitter, the apex bank said the 290th meeting would be held at the CBN Headquarters in Abuja.

The MPC is the highest policy-making committee of the apex bank with the mandate including to review economic and financial conditions in the economy and determine the appropriate stance of policy in the short to medium term.

It is also empowered to review regularly, the CBN monetary policy framework and adopt changes when necessary, communicate monetary/financial policy decisions effectively to the public and ensure the credibility of the model of transmission mechanism of monetary policy.

The committee is made up of the CBN Governor, Godwin Emefiele (Chairman); Deputy Governor, Financial System Stability, Aisha Ahmad; Deputy Governor, Corporate Services, Edward Adamu; Deputy Governor, Operations, Folashodun Shonubi; and Deputy Governor, Economic Policy, Kingsley Obiora.

It also includes Festus Adenikinju of the Department of Economics University of Ibadan; Aliyu Sanusi of the Department of Economics, Ahmadu Bello University; Robert Asogwa of the African Development Bank, Abuja; Mike Obadan of the Department of Economics and Statistics University of Benin.

Other members are Senior Special Assistant to the President, Development Policy, Mohammed Salisu; Security and Exchange Commission (SEC), Momodu Omamegbe; and Permanent Secretary, Federal Ministry of Finance, Aliyu Ahmed.