May 19, 2024
JUST IN: CBN shifts meeting of Monetary Policy Committee to September 16-17, 2021
CBN denies, condemns peddlers of rumor on Domiciliary Account Holdings
– By Godswill Odiong

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By Eyo Nsima

The Central Bank of Nigeria, CBN, has shifted the meeting of the Monetary Policy Committee, MPC, to September 16-17, 2021.

The apex Bank, which disclosed this in a notice to stakeholders, September 6, 2021, did not disclose the reasons for the development.

Specifically, it stated: “This is to inform you that the dates for the Monetary Policy Committee (MPC) meeting have been rescheduled as follows: 16th and 17th September, 2021.”

In a message obtained from its website, the CBN has it that, “the MPC is the Governor of the Bank who shall be the Chairman the four Deputy Governors of the Bank two members of the Board of Directors of the Bank three members appointed by the President; and two members appointed by the Governor.”

It added that the Committee has the mandate to, “review economic and financial conditions in the economy, determine the appropriate stance of policy in the short to medium term, review regularly, the CBN monetary policy framework and adopt changes when necessary and also communicate monetary/financial policy decisions effectively to the public and ensure the credibility of the model of the transmission mechanism of monetary policy.

“The MPC meets quarterly, except otherwise, in the event of an emergency.”

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