The Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN) will hold on February 26, the first since the appointment of Olayemi Cardoso as the CBN Governor on October 5, 2023.
The MPC meeting, to be concluded on February 27, 2024, would be the first in six months, and is coming amidst sharp decline in the Nigerian currency, spiralling inflation, cash squeeze and food insecurity.
According to the Acting Director Corporate Communications of the CBN, Mrs Hakama Sidi-Ali in a statement, the MPC members will engage in in-depth discussions about the Nigeria’s current economic landscape and strategies for the future.
A critical focus area of the retreat was on improving the monetary policy transmission mechanism, she added.
This will help to translate policy decisions into tangible effects on the real economy, such as influencing inflation and growth, the CBN communication officer added.
Former MPC members, monetary policy and communication specialists from the IMF, and Directors of key CBN departments are expected to make presentations during the meeting.
Sidi Ali said “valuable insights gained from these discussions will significantly contribute towards the robustness of the forthcoming MPC meetings.”
Subsequent MPC meetings for 2024 will hold in March, May, July, September and November.
