The Central Bank of Nigeria (CBN) has adjusted the schedule for its 299th Monetary Policy Committee (MPC) meeting, initially set for February 17 and 18, 2025. The meeting will now take place on February 18 and 19, 2025.
In a statement on Monday, the apex bank confirmed the new dates, putting an end to speculations fueled by delays in the release of the rebased Consumer Price Index (CPI) by the National Bureau of Statistics (NBS).
With the revised schedule, analysts are closely monitoring whether the committee will maintain or adjust the Monetary Policy Rate in response to prevailing economic conditions.
The meeting was originally slated for January 27–28, 2025, but was postponed to February to allow time for the release of rebased inflation and GDP figures.
This is not the first time the CBN has rescheduled its MPC meetings under Governor Olayemi Cardoso’s leadership. Following his appointment in September 2023, the bank similarly delayed an MPC meeting as investors and analysts awaited his policy direction to address rising inflation.
The first MPC meeting under Cardoso took place on February 26 and 27, 2024. As monetary policy decisions rely heavily on inflation trends, the delay in publishing the rebased CPI has raised concerns about the timing of key economic indicators.
The NBS typically releases its CPI report on the 15th of each month, meaning the inflation report may be available three days before the newly scheduled MPC meeting.
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