Dr. Olayemi Cardoso, who assumed the role of Central Bank governor four months ago, is gearing up to preside over the initial Monetary Policy Committee (MPC) meeting on February 26th and 27th, 2024.
Appointed by President Tinubu in September 2023, Cardoso’s tenure has seen a lapse in MPC Meetings, which are supposed to convene every two months. Despite the regularity of these sessions, none has taken place since Cardoso’s appointment.
The MPC plays a pivotal role in shaping global economic monetary policies, with its last meeting occurring in May 2023. Confirming the upcoming MPC meeting in Abuja over the weekend, Mrs. Hakama Sidi Ali, the Acting Director of the Corporate Communications Department at the CBN, revealed that the bank had previously conducted a strategic session. This session aimed at brainstorming and engaging in-depth discussions about the committee’s objectives.
“The valuable insights gained from these discussions will significantly contribute towards the robustness of the forthcoming MPC meetings,” she emphasized.
As per the schedule outlined on the CBN website, the Monetary Policy Committee (MPC) meetings for 2024 are slated for February, March, May, July, September, and November. The anticipation is high for the upcoming meeting, as it marks a crucial step in shaping monetary policies under Cardoso’s leadership.
