CBN Monetary Policy Thrust, Economic Outlook for 2024 To Be Unveiled Tomorrow

The Central Bank of Nigeria (CBN) will tomorrow, November 24, 2023 unveil its Monetary Policy Thrust and Economic Outlook for 2024.

The apex bank’s governor, Olayemi Cardoso will do the unveiling during the 58th Chartered Institute of Bankers of Nigeria (CIBN) Annual Bankers’ Dinner in Lagos.

The apex bank made the announcement via its official X handle on Thursday afternoon.

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“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://YouTube.com/cenbank at 5:00 pm on Friday, November 24, 2023” the tweet reads.

The address will afford Cardozo the opportunity to explain the monetary policy of the CBN and plans to halt the fall of the national currency, the Naira.

The address will be the first public engagement by Cardozo since he was appointed CBN Governor by President Bola Tinubu on 15 September 2023.

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The new CBN Governor has come under fire for failing to hold the bi-monthly Monetary Policy Committee (MPC) meeting, the highest policy-making committee of the apex bank since he assumed office. The last of such meetings was on July 25.

The MPC has as its mandate to review economic and financial conditions in the economy; determine the appropriate stance of policy in the short to medium term; review regularly the CBN monetary policy framework and adopt changes when necessary; and communicate monetary/financial policy decisions effectively to the public and ensure the credibility of the model of transmission mechanism of monetary policy.