Azàland

Nigeria’s central bank plans to replace the external members of its monetary policy committee, who say they’ve been sidelined ahead of a meeting next month, amid an ongoing shakeup of the institution.

Four of the five external members of the 12-seat MPC, who spoke to Bloomberg on the condition of anonymity, said they have not been paid since August, last heard from the central bank in September and have been excluded from the usual planning ahead of the Feb. 26-27 gathering. The fifth member did not respond to requests for comment.

A central bank spokeswoman said the appointment of new independent MPC members was in the pipeline, but gave no further details.
The monetary authority is crucial to President Bola Tinubu’s efforts to boost growth and attract foreign investment to Nigeria’s lethargic economy. Soon after taking office in May, he suspended the bank’s then-governor Godwin Emefiele, who was arrested weeks later on charges including fraud. Emefiele denies wrongdoing and his trial is ongoing.

Tinubu then installed new leadership under ex-Citibank executive Olayemi Cardoso, who has pledged a return to orthodox central banking with a focus on tackling inflation and stabilizing the country’s free-falling naira currency.

Source: https://businessday.ng/business-economy ... b-meeting/

This.new cbn Governor, can we conclude yet that he knows what he's doing? I want to believe so. But let's wait

Okay