Babatunji Wusu –
The Monetary Policy Committee (MPC) meeting has been postponed by the Central Bank of Nigeria (CBN) to a later time.
The MPC meeting, which would have been the 293rd meeting, was initially set for September 25 and 26 on Monday and Tuesday, respectively.
An announcement from the CBN with Isa AbdulMumin’s signature read, “A new date will be communicated in due course.”
According to AbdulMumin, the CBN is sorry for “any inconvenience this change may cause our stakeholders and the general public.”
According to AbdulMumin, the CBN is sorry for “any inconvenience this change may cause our stakeholders and the general public.”
The Nation had received a confidential statement from a board member that “screening, confirmation by the Senate, and then final approval by the president may delay the immediate resumption of the new executive management team of the CBN led by Yemi Cardoso.”
At the time he spoke with The Nation, the board member stated that it was unclear whether the Monetary Policy Committee (MPC) meeting scheduled for September 25 and 26 of 2023 would still take place.
“It’s quite doubtful whether the MPC meeting scheduled for the next week will take place, even though preparations are being made, since if there is no governor.
“Perhaps their (the former executive management team led by Folashodun Shonubi) fate will be decided by next week, but I’m not hopeful. We don’t know when they plan to do that (have the MPC meeting), but it’s not possible that top management has been fired and those ogas are still in place.
The CBN has set a date for the second International Financial Inclusion Conference (#IFIC2023), which is an additional development.
It is slated to take place in Lagos on October 5 and 6, 2023, and it is Nigeria’s premier financial inclusion event.
“Financial Inclusion for All: Global Insights for Local Impact” is the conference’s theme. Typically, it is hosted by the National Financial Inclusion Governance Committees and affiliated organizations in Nigeria.
AbdulMumin continued, “IFIC 2023 is an engagement platform for global thought leaders, regulators, and other stakeholders to discuss and collaborate on contemporary strategies for accelerating financial inclusion on the African continent and globally.”
Dr. Reza Baqir, a former governor of the State Bank of Pakistan, Dr. Alfred Hannig, executive director of the Alliance for Financial Inclusion, and Dr. Chea Serey, governor of the National Bank of Cambodia, are among the keynote speakers.
Fintech-driven last mile solutions, big data and artificial intelligence exploitation, inclusive product innovation (non-interest finance), and exploitation of payment systems to grow financial inclusion in excluded sectors – women, rural, youth, and MSMEs – are key subjects to be studied.
Other topics include data privacy, fraud, and consumer protection. Innovation Labs, Financial Inclusion Awards, and other side events offer chances to highlight Nigeria as an investment destination to help economic development in Nigeria and the sub-region. These are some more highlights.
According to AbdulMumin, “over 5,000 participants drawn from 78 countries and including senior government officials from within and outside the country, former President Muhammadu Buhari, Queen Maxima of the Netherlands, selected Ministers of the Federal Republic of Nigeria, and other influential persons in the global financial inclusion ecosystem” attended the inaugural edition of the IFIC, which was held at the Transcorp Hilton Abuja in 2022.
