January 19, 2024
CBN Governor, Dr. I swear by Cardoso
The Financial Coverage Committee of the Central Financial institution of Nigeria will maintain its first coverage assembly of the yr on February 26 and 27.
That is evident from a provisional MPC assembly calendar posted on the apex financial institution's web site.
The assembly, the primary led by Governor Yemi Cardoso, might be considered one of six scheduled for this yr.
In accordance with the doc, the financial institution will maintain its second MPC assembly on March 25 and 26, 2024.
It was additionally acknowledged that different conferences will happen in Could, July, September and November.
The MPC final met in July, below suspended former governor Godwin Emefiele, when it raised the benchmark rate of interest to a report excessive of 18.75 p.c to rein in rising inflation – after which to 23 p.c.
Since July, inflation has additional accelerated to twenty-eight.9% – the very best in virtually three many years, pushed by rising gas prices after the federal government eliminated petrol subsidy, increased meals costs and a plummeting naira that has pushed up import prices.
Extra particulars coming quickly…
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