The Central Bank of Nigeria has disclosed the postponement of the May edition of the Monetary Policy Committee (MPC) meeting earlier scheduled for Monday and Tuesday, May 25 and 26, 2020,
The spokesperson of the Central Bank of Nigeria (CBN), Isaac Okorafor made this disclosure through a statement issued to newsmen.
Isaac noted that the decision was reached following the announcement of the public holiday by the Federal Government to celebrate the Muslim Eid-el Fitr holidays which coincided with the previous schedule.
“This is to inform our stakeholders and the general public that the May 2020 meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) earlier scheduled for Monday and Tuesday, May 25 and 26, 2020, respectively will now hold on Thursday, May 28, 2020.
“This is as a result of the declaration of Monday and Tuesday, May 25 and 26, 2020, as Eid-el Fitr holidays.
“For the avoidance of doubt, the CBN has put in place all necessary machinery for the meeting to now hold for only one day on account of the on-going COVID-19 national lockdown and to align this meeting with extant rules of the Presidential Task Force (PTF) on COVID-19 and advisories from other relevant agencies.
“All inconveniences caused by these changes are regretted,” Mr Okorafor said.
The MPC is a committee of experts of the CBN responsible for formulating monetary and credit policies in a bid to achieve the bank’s financial system stability.
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