Nigeria In One Minute

Fresh hope for economy as CBN’s policy committee resumes meeting

The nation’s economy may be exiting a six-month apathy and cautious mode imposed on it by the standoff between the federal legislature and the executive, as the decision of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will be ready today.

President Muhammadu Buhari had in November 2017 sent a list of five nominees to the Senate for confirmation to fill the vacant positions in the MPC.

Two of them are also to serve as deputy governors of CBN. But the list was caught in the web of political standoff, which delayed the lawmakers’ action on it for about six months.

Within this period, which analysts have described as characterised by uncertainty, both local and foreign investors transacted in the nation’s financial market with caution.

The Guardian, April 4, 2018

 

 

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