The Governor of the Central Bank of Nigeria, Olayemi Cardoso will on Friday 24 November, 2023, unveil the Bank’s Monetary Policy Trust and Economic Outlook for 2024.
This was announced by the Apex bank on its verified X (formerly Twitter) handle on Thursday.
Those that want to join the unveiling can do so via https://YouTube.com/cenbank at 5:00 pm on Friday, November 24, 2023. The event will hold at Eko Hotels and Suites.
Also read; Minimum wage in UK to rise to £11.44 per hour
The Governor, Central Bank of Nigeria, Mr. Olayemi Cardoso, to unveil the Bank’s Monetary Policy Thrust and Economic Outlook for 2024.
Join us via https://t.co/ieMiook8fz at 5:00 pm on Friday, November 24, 2023. pic.twitter.com/BeOE2Fga5g
— Central Bank of Nigeria (@cenbank) November 23, 2023
Monetary policy is a set of tools used by a nation’s central bank to control the overall money supply and promote economic growth and employ strategies such as revising interest rates and changing bank reserve requirements.
Dr. Olayemi Michael Cardoso had on Friday, September 22, 2023 assumed duty as the acting Governor of the Central Bank of Nigeria (CBN), following his nomination by President Tinubu earlier in the same month.
Since Dr. Olayemi Cardoso assumed office as the CBN Governor, the apex bank has not held its monetary policy committee meeting. This is despite the surge in inflation in the country.
Investogist reported that the inflation in Nigeria had risen for the tenth consecutive times in October 2023, rising to 27.33 percent year on year in October 2023.
The Central Bank had on Monday postponed the meeting of its monetary policy committee.
The meeting, which was scheduled to be held on Monday and Tuesday, was postponed for a second time since Olayemi Cardoso became governor in September.
The latest postponement has kept investors and analysts waiting a bit longer for Cardoso’s approach to surging inflation, and other economic challenges bedeviling the country.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
