The Central Bank of Nigeria (CBN) announced that its 290th Monetary Policy Committee (MPC) meeting will be held on Monday and Tuesday next week.
The information was disclosed on the CBN’s official website on Tuesday.
The primary purpose of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) meeting is to review economic and financial conditions in the economy and determine an appropriate stance of policy in the short to medium term. The MPC also has a mandate to regularly review the CBN’s monetary policy framework and adopt changes when necessary, as well as communicate monetary and financial policy decisions effectively to the public. The 290th meeting will be held at CBN Headquarters in Abuja between Monday and Tuesday next week.
At this upcoming MPC meeting, members will consider current macroeconomic developments such as inflation rate trends, exchange rate stability, growth prospects for both domestic output production capacity utilization levels and balance-of-payments positions, etc., before deciding on an appropriate stance for monetary or financial policies that would best address these challenges while promoting sustainable non-inflationary growth across all sectors of the Nigerian economy over time.
The committee is made up of the CBN Governor, Godwin Emefiele (Chairman); Deputy Governor, Financial System Stability, Aisha Ahmad; Deputy Governor, Corporate Services, Edward Adamu; Deputy Governor, Operations, Folashodun Shonubi; and Deputy Governor, Economic Policy, Kingsley Obiora.
It also includes Festus Adenikinju of the Department of Economics University of Ibadan; Aliyu Sanusi of the Department of Economics, Ahmadu Bello University; Robert Asogwa of the African Development Bank, Abuja; Mike Obadan of the Department of Economics and Statistics University of Benin.
Other members are Senior Special Assistant to the President for Development Policy, Mohammed Salisu; Chairman of the Security and Exchange Commission (SEC), Momodu Omamegbe; and Permanent Secretary, Federal Ministry of Finance, Aliyu Ahmed.