CBN Set To Hold First MPC Meeting Under Cardoso

CBN Set To Hold First MPC Meeting Under Cardoso

By Chidiebere Ugwu

The Central Bank of Nigeria (CBN) has held a two-day strategic session for members of the Monetary Policy Committee (MPC) meeting, preparatory to their first meeting under the tenure of Mr. Olayemi Cardoso as Governor, scheduled for Monday, February 26 and Tuesday, February 27, 2024.

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Confirming this in Abuja on Friday, January 19, 2024, the Acting Director, Corporate Communications Department, Mrs. Hakama Sidi Ali, disclosed that the session aimed to brainstorm and engage in an in-depth discussion about the committee’s objectives.

She revealed that the critical focus areas during the retreat included deliberations on the strategic plan to effect necessary improvements in the monetary policy transmission mechanism.

According to her, the sessions were facilitated by former MPC members, monetary policy communication specialists at the IMF, and Directors of Departments critical to the MPC process.

“The valuable insights gained from these discussions will significantly contribute towards the robustness of the forthcoming MPC meetings,” she noted.

Meanwhile, a calendar of meetings of the Monetary Policy Committee (MPC) for 2024 published on the CBN website indicates that the meetings have been scheduled for February, March, May, July, September and November 2024.