Modupe Gbadeyanka
By Modupe Gbadeyanka
The Central Bank of Nigeria (CBN) has announced that it would hold its 253rd Monetary Policy Committee (MPC) meeting next week.
In a statement issued on Monday, November 14, 2016, the apex bank noted that the meeting would hold for two days.
It was disclosed that the meeting would take place on Monday, November 21, 2016 by 10am and on Tuesday, November 22, 2016 by 9am.
According to the statement, venue of the gathering is the MPC Meeting Room, 11th Floor, Wing C, CBN Corporate Headquarters, Abuja.
The MPC comprises 12 persons with the CBN Governor, Mr Godwin Emefiele, as Chairman.
It is the highest policy making committee of the CBN and meets quarterly, except otherwise, in the event of an emergency.
The MPC is saddled with the responsibility of reviewing economic and financial conditions in the economy, determining appropriate stance of policy in the short to medium term, reviewing regularly the CBN monetary policy framework and adopt changes when necessary, and communicating monetary/financial policy decisions effectively to the public and ensure the credibility of the model of transmission mechanism of monetary policy.
