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Emefiele Insists MPC Meeting Will Hold In March



The Central Bank of Nigeria (CBN) has maintained that its much talked about Monetary Policy Committee (MPC) meeting will hold this March. Governor of the central bank, Mr. Godwin Emefiele disclosed this yesterday in an interview with journalists. As at the time of filing this report yesterday, it was not clear whether the Senate will confirm the appointment of the nominees sent to them by President Muhammadu Buhari. LEADERSHIP recalls that the Senate had promised to clear the two CBN deputy governors’ nominees this week.

However, Mr. Emefiele said that the MPC meeting will hold but may only be postponed by about 10-days. The meeting is supposed to hold from 19 to 20th of March 2018. “The MPC meeting will hold and I’m very delighted that Senate has decided to screen the nominees earlier sent to them by the President,” the CBN Governor said yesterday on the sidelines of the commissioning of Sunti Sugarcane factory in Sunti, Mokwa Local government of Niger state. “What I suspect is that we will be holding our committee of governors meeting and we will decide. I believe we will just have between seven to ten days delay and the MPC will hold,” he added. The first MPC meeting for this year did not hold because it was not able to form a quorum due to failure of the lawmakers to clear the Presidential nominees.  The 12-member MPC board needs six members to form a quorum. Experts had expressed dissatisfaction over the inability to hold the MPC meeting in January. They raised fears failure of the MPC to meet and take key monetary decisions including interest rate may affect investors’ confidence in the economy.