The Central Bank of Nigeria’s Monetary Policy Committee will convene for its first policy meeting of the year on February 26 and 27.
This is in line with a provisional schedule of MPC meetings that was uploaded on the apex bank’s website on Friday.
The first meeting to be led by Governor Yemi Cardoso is slated to be one of the six meetings held during the year.
The document states that the bank’s second MPC meeting will take place on March 25 and 26, 2024.
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It further mentioned that there will be other sessions in November, September, July, and May.
At its most recent meeting in July, the MPC—which was then led by suspended former governor Godwin Emefiele—raised the benchmark rate to a record high of 18.75 percent in an effort to control the then-rising 23 percent inflation rate.
Since July, inflation has accelerated further to 28.9 per cent — the highest in almost three decades, spurred by surging fuel costs after the government removed a gasoline subsidy, higher food prices, and a plunging naira that has raised the cost of imports.
