CBN Reschedules May 2020 MPC Meeting

By Tony Obiechina, Abuja

The Central Bank of Nigeria (CBN), has shifted the Monetary Policy Committee ((MPC) meeting earlier scheduled to hold on Monday 25 May, 2020 to Thursday 28th May, 2020.

A statement by the Director of Corporate Communications, Mr Isaac Okorafor on Thursday, said the change in dates was due to the Sallah PublicPublic Holidays.

The statement reads: “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

“All inconveniences caused by these changes are regretted”.

Prompt News recalls that the last MPC meeting was held on March 23rd and 24th, 2020 during which the Apex Bank retained the monetary policy rate(MPR) at 13.5percent and all other parameters.

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