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The Central Bank of Nigeria (CBN) has announced that its Monetary Policy Committee, led by Governor Olayemi Cardoso, will convene for its inaugural meeting on Monday, February 26, and Tuesday, February 27, 2024. This disclosure comes after a two-day strategic session attended by committee members to prepare for the upcoming gathering.
Hakama Sidi Ali, the Acting Director of the Corporate Communications Department at the CBN, confirmed the news in Abuja on Friday. She stated that the strategic session’s primary objective was to facilitate brainstorming and in-depth discussions on the committee’s goals. The retreat focused on key areas such as formulating a strategic plan to enhance improvements in the monetary policy transmission mechanism.
Ali mentioned that the sessions were led by former MPC members, experts in monetary policy communication from the IMF, and Directors of Departments crucial to the MPC process. She emphasized that the valuable insights gained from these discussions would significantly contribute to the robustness of the upcoming MPC meetings.
In addition to this, a published calendar of MPC meetings for 2024 on the CBN website reveals scheduled gatherings for February, March, May, July, September, and November 2024.
Governor Cardoso, appointed by President Bola Tinubu in October of the previous year, replaced Godwin Emefiele. Despite Cardoso’s confirmation by the Senate, the CBN’s Monetary Policy Committee has not convened any meetings since his appointment.
