March 19, 2018 / 10:52 AM / 7 months ago

Nigeria's central bank to hold interest rate meeting April 3-4 -spokesman

ABUJA, March 19 (Reuters) - 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 new dates for the MPC are April 3 and 4,” the spokesman told Reuters by phone. “We are hoping that between now and then the members of the committee would have been confirmed by the Senate.”

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. (Reporting by Camillus Eboh Additional reporting by Chijioke Ohuocha Writing by Paul Carsten Editing by Catherine Evans)

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