CBN postpones September MPC meeting as Cardozo resumes as Governor

The Central Bank of Nigeria has postponed the Monetary Policy Committee’s 293rd meeting, which was scheduled for Monday and Tuesday, September 25 and 26, 2023 just as newly appointed Central Bank Governor, Olayemi Cardozo and four deputies resumed at the apex bank’s Abuja head office.

According to a press statement by the bank’s Director of Corporate Communications, Dr Isa AbdulMumin, “The Monetary Policy Committee of the Central Bank of Nigeria has deferred its 293rd meeting scheduled for Monday and Tuesday, September 25 and 26, 2023, respectively.

“A new date will be communicated in due course. We regret any inconvenience this change may cause our stakeholders and the general public.”

Meanwhile, Dr. Olayemi Cardoso, President Bola Ahmed Tinubu’s nominee for the position of governor of the Central Bank of Nigeria, officially assumed office on Friday.

Dr. Isa AbdulMumin, the Director, Corporate Communications at the CBN, in a statement by the bank, said Cardoso assumed duty as the acting CBN governor pending confirmation by the Senate, who are currently on their annual recess.

It was also noted that the deputy governor-designates have assumed office following the resignation of the previous deputies.

The statement read, “Dr. Olayemi Michael Cardoso, recently nominated by President Bola Ahmed Tinubu, has on Friday, September 22, 2023, formally assumed duty, in an acting capacity, as the Governor of the Central Bank of Nigeria, pending his confirmation by the Senate. This follows the resignation of Mr Godwin Emefiele as Governor of the CBN.

“Similarly, the Deputy-Governors-Designate have also assumed duty, in acting capacities, sequel to the formal resignation of Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Adamu, and Dr. Kingsley Obiora as Deputy Governors of the CBN.”

The deputy-governors-designate are Emem Usoro, Muhammad Abdullahi-Dattijo, Philip Ikeazor, and Bala Bello.

The statement noted that Dr. Cardoso and his colleagues subscribed to the relevant oaths of office at a brief ceremony held at the Bank’s Head Office in Abuja on Friday, September 2023.

It added that they have since settled down to the task of administering monetary and financial sector policies of the Federal Government.

The Senate spokesperson and Chairman, the Senate Committee on Media and Publicity, Yemi Adaramodu, told The PUNCH earlier that the Senate would screen the apex bank governor and other executives of the CBN as soon as it gets an executive communication to that effect upon its resumption from its annual recess.

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