CBN reschedules May MPC meeting

By Chika Otuchikere

The Central Bank of Nigeria (CBN) has announced the rescheduling of the Monetary Policy Committee (MPC) meeting for the month of May, 2020.

The bank’s Director of Corporate Communication, Isaac Okorafor made this disclosure in a statement on Friday in which he said the change of date followed the announcement of public holidays next week.

According to Okorafor, the meeting which usually held for two days will now hold for one day in line with the exigencies of the COVID-19 pandemic.

The statement reads in part; “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”.

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