Emmanuel OchayiThe Central Bank of Nigeria (CBN) has decided to postpone its eagerly awaited 293rd Monetary Policy Committee (MPC) meeting, originally slated for September 25 and 26, 2023.
Dr. Isa AbdulMumin, Director of Corporate Communications at the CBN, broke the news on September 20, 2023, leaving many questioning the motive behind the delay.
In the statement, he said “The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has deferred its 293rd meeting scheduled for Monday and Tuesday, September 25 and 26, 2023, respectively. A new date will be communicated in due course. We regret any inconvenience this change may cause our stakeholders and the general public.”
The CBN’s decision to reschedule such a pivotal meeting has raised eyebrows, with the financial world speculating on the underlying reasons.
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While the central bank has not divulged specific details, such decisions typically revolve around a complex interplay of economic and financial factors.
One potential catalyst behind this unexpected move could be the recent announcement by Nigeria’s President, Bola Tinubu, nominating Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN).
President Tinubu has also greenlit the selection of four individuals to serve as Deputy Governors, pending Senate confirmation. The nominees for the Deputy Governor positions are Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
This leadership transition within the CBN has fueled speculation that the current deputy governors may not have resigned, adding an extra layer of intrigue to the delay in the MPC meeting.
As the financial world eagerly awaits further developments, the central bank remains tight-lipped about the specific motivations behind this decision, leaving room for further speculation and analysis.
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