CBN postpones MPC meeting to accommodate Eid-El Maulud

The Central Bank of Nigeria, on Saturday, rescheduled the
November 19 meeting of the Monetary Policy Committee to November 21
and 22 to accommodate the Eid-El Maulud celebrations.

A statement by Mr Isaac Okorafor, Director, Corporate
Communications, CBN, said the date was changed from Monday and
Tuesday following the declaration of Tuesday as a public holiday by
the Federal Government to mark the Eid-El Maulud.

“The CBN regretted any inconvenience the change may have caused
its stakeholders and the general public,” he said.

The News Agency of Nigeria reports that the MPC is the highest
policy making committee of the apex bank with the mandate to review
economic and financial conditions in the economy.

It is also to determine appropriate stance of policy in the
short to medium term, review regularly, the CBN monetary policy
framework and adopt changes when necessary.

It also communicates monetary/financial policy decisions
effectively to the public and ensures the credibility of the model
of transmission mechanism of monetary policy.

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

(NAN)

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