The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has deferred its 293rd meeting scheduled for Monday and Tuesday, September 25 and 26, 2023, respectively.
The apex bank did not give reasons for the deferment. But the Director, Corporate Communications of the bank, Isa AbdulMumin said a new date for the meeting would be communicated in due course.
AbdulMumin expressed regrets for any inconvenience the change may cause stakeholders of the Bank and the general public.
However, close watchers of recent developments at the Bank said the deferment may not be unconnected with the recent decision of the Presidency to appoint a successor to the suspended governor of CBN, Godwin Emefiele.
On June 9, 2023, President Bola Tinubu suspended Emefiele from office.
A statement from the Office of the Secretary to the Government of the Federation said the suspension was to allow for investigations into certain activities of his office.
Although the Deputy Governor (Operations Directorate) or the Bnak, Folashodun Shonubi, was was appointed as the acting governor to oversee the affairs of the apex bank till a substantive appointee was named, the embattled CBN governor has been in the custody of the Department of State Security (DSS).
After being kept in DSS custody for weeks, Emefiiele was on July 25 arraigned over a charge of being in possession of illegal firearms and ammunitions.
Two weeks ago, Emefiele was said to have tendered his resignation to Tinubu in controversial circumstances.
Last week, Tinubu announced the nomination of Yemi Cardoso as Emefiele’s successor for a term of five years.
The nomination is however subject to the confirmation of the Senate. While awaiting the confirmation, observers said Shonubi, whose tenure as acting governor lapsed with the appointment of a substantive governor, cannot preside over the MPC meeting.
Also, the new governor cannot perform that role until the nomination has been confirmed by the Senate.
The CBN governor, under the CBN Act, is the Chairman of the MPC, which consists of Deputy Governors of the Bank and Chief Executives of all banks in the country.
