Breaking: CBN postpones September 2023 MPC Meeting

In a surprising turn of events, the Central Bank of Nigeria (CBN) has announced the postponement of its highly anticipated 293rd Monetary Policy Committee (MPC) meeting, originally scheduled for Monday and Tuesday, September 25 and 26, 2023.

The decision to defer this critical meeting was communicated through a press release issued by Dr. Isa AbdulMumin, Director of Corporate Communications at the CBN, on September 20, 2023.

While the CBN has not disclosed the specific reasons behind the deferral, such decisions typically hinge on a range of economic and financial factors.

However, it’s possible that the central bank’s decision could be connected to the recent announcement of new deputy governors amidst rumours that the current deputy governors were yet to resign.

Last week, Nigeria’s President Bola Tinubu, nominated Dr. Olayemi Michael Cardoso to assume the role of Governor for the Central Bank of Nigeria (CBN). See excerpts of the press release.

In addition to nominating Dr. Cardoso, President Tinubu has also approved the selection of four individuals to serve as Deputy Governors of the Central Bank of Nigeria. These esteemed candidates, who will also serve a five-year term pending Senate confirmation, are as follows: