Nigeria’s central bank holds interest rate meeting April 3-4

Nigeria’s central bank plans to hold its next interest rate meeting April 3-4, a spokesman said on Monday, contingent on the upper house of parliament confirming the president’s nominees for the monetary policy committee (MPC).

The spokesman according to Reuters said, “the new dates for the MPC are April 3 and 4.

“We are hoping that between now and then the members of the committee would have been confirmed by the Senate,” he added.

A political spat over nominations for the MPC meant Nigeria’s Senate had not approved President Muhammadu Buhari’s candidates, leaving the committee unable to form a quorum to set interest rates.

The Senate will consider a report into the nominations this week and could approve them, paving the way for the first rate-setting meeting this year.