Cardoso Reveals CBN’s Monetary Policy Focus in Highly Anticipated Address

• Governor of the Central Bank of Nigeria, Olayemi Cardoso, is set to unveil the CBN’s monetary policy and economic outlook
• The announcement will be made during the 58th Chartered Institute of Bankers of Nigeria Annual Bankers’ Dinner on November 24

Mr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), is scheduled to unveil the apex bank’s monetary policy thrust and economic outlook today.

This significant announcement is slated to take place during the 58th Chartered Institute of Bankers of Nigeria Annual Bankers’ Dinner, as revealed by the CBN’s communication via their Twitter handle, now known as X, on Thursday.

“Join us via https://YouTube.com/cenbank at 5:00 pm on Friday, November 24, 2023, as Governor Olayemi Cardoso unveils the Bank’s Monetary Policy Thrust and Economic Outlook for 2024,” the tweet reads.

During the address, Governor Cardoso will articulate the CBN’s monetary policy and outline strategies aimed at safeguarding the national currency, the Naira. This public engagement marks Cardoso’s first since his appointment as CBN Governor by President Bola Tinubu on September 15, 2023.

Critics have been vocal about Cardoso’s tenure, particularly highlighting the absence of the bi-monthly Monetary Policy Committee (MPC) meetings—the apex bank’s highest policy-making committee—since he assumed office. The last such meeting convened on July 25. This address serves as a crucial platform for Cardoso to address these concerns and offer insights into the CBN’s vision for the economic landscape in the upcoming year.

CBN Postpones MPC Meeting For Second Time

The meeting of the Monetary Policy Committee (MPC) has been postponed by the Central Bank of Nigeria (CBN).

Since Yemi Cardoso took over as the governor of the top bank, the financial regulator has postponed the MPC meeting twice.

The 294th MPC meeting is scheduled for November 20, 2023, or between November 20 and November 21, 2023, according to the CBN calendar.

However, Isa Abdulmumin, director of corporate communications, stated in a Monday conversation with TheCable that the important meeting will not take place this week.