Nigerians are becoming anxious as the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will be meeting today in Abuja.

The MPC’s 289th meeting will be presided over by the CBN governor Godwin Emefiele, where deliberations bothering on the old naira notes deadline will be discussed.

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The CBN has consistently made it clear that the January 31, 2023 deadline which is just one week away will not be reversed.

The reality on the ground hints at a possible extension, as most Nigerians are yet to completely accept the new notes, while others complain that they are yet to have a feel of the new notes, in fact, ATMs continue to dispense the old naira notes.

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There has been real pressure from governors, statesmen, and groups on the CBN to extend the deadline, and that decision is likely to be reached today.

Another issue of concern to most Nigerians is the interest rate which the MPC is expected to carry out deliberations on.

The CBN’s highest decision-making body in December 2022, increased the interest rate by 16.5%.

Although prices continued to increase on monthly basis the ease recorded in December was the first in 10 months.

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The MPC is also expected to look at the naira-to-dollar exchange rate during the two days meeting.

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Furthermore, the committee will also be expected to discuss the CBN’s policies and intervention to farmers, with a view to assessing the impact on the lives and businesses of the beneficiaries.

Nigerians are anxiously hoping that the outcome of the MPC meeting will be positive and not increase their financial burdens more than it has already done.

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