P
ProfRem
Guest
The Central Bank of Nigeria, (CBN) ' announced yesterday that it shall continue to retain the key monetary policy variables as decided by the MPC at its last meeting in November.
The two-day MPC meeting which was slated to commence today will not hold due to the inability of the committee to form a quorum.
It was reported that eight positions on the 12-member committee were vacant, making it impossible for the committee to form a quorum as the lawmakers are yet to confirm their appointments.
However, in order to meet with the statutory number of meetings required from the committee in a year, the central bank is considering convening an emergency MPC meeting in February.
A senior central bank official told THISDAY, on Sunday.
The CBN official expressed optimism that after the proposed emergency meeting next month, the lawmakers would most likely have confirmed the MPC nominees for a proper meeting to hold in March and will reaffirm the decisions of the emergency meeting in February.
The two-day MPC meeting which was slated to commence today will not hold due to the inability of the committee to form a quorum.
It was reported that eight positions on the 12-member committee were vacant, making it impossible for the committee to form a quorum as the lawmakers are yet to confirm their appointments.
However, in order to meet with the statutory number of meetings required from the committee in a year, the central bank is considering convening an emergency MPC meeting in February.
A senior central bank official told THISDAY, on Sunday.
The CBN official expressed optimism that after the proposed emergency meeting next month, the lawmakers would most likely have confirmed the MPC nominees for a proper meeting to hold in March and will reaffirm the decisions of the emergency meeting in February.
