Cardoso CBN stops paying MPC members without notice

The Central Bank of Nigeria (CBN), under the leadership of Governor Olayemi Cardoso, has ceased payments to its Monetary Policy Committee (MPC) members without prior notice.

This unexpected development has raised eyebrows in Nigeria’s financial circles and could signal a significant shift in the central bank’s approach to its policy-making body.

Sources, who preferred to remain anonymous, revealed to Bloomberg that the five external members of the MPC, a crucial part of the 12-seat committee, have not received their dues since August.