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Central bank reschedules MPC meeting over holidays Central bank reschedules MPC meeting over holidays
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Central bank reschedules MPC meeting over holidays

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The Central Bank of Nigeria (CBN) has rescheduled it’s Monetary Policy Committee (MPC) meeting from Monday and Tuesday May 25 and 26 to Thursday, May 28. The CBN Director, Corporate Communications Department, Mr. Isaac Okorafor, made this known in a statement in Abuja on Thursday. Okorafor explained that the rescheduling of the meeting was due to the declaration of May 25 and May 26 as public holidays by the Federal Government to commemorate the Eid-el Fitr. He said for the avoidance of doubt, CBN had put necessary machinery in place for the meeting to now hold for only one day on account of the ongoing COVID-19 national lockdown. He added that this step taken was also to align this meeting with the extant rules of the Presidential Task Force (PTF) on COVID-19 and advisories from other rel...

Politics

3 Key Trends for the FMCG Sector Post-Pandemic

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Sourced from Footstuffs SA. It’s clear that the Coronavirus has changed the landscape for FMCGs (Fast-moving consumer goods) – in some ways permanently. However, despite its similarities, the impact has not been the same across its subsectors and through the supply chain. Itumeleng Merafe, Head of Interest Rate Structuring at Investec says that “the lockdown has hit the economy hard and despite efforts by the government and Reserve Bank to mitigate the effects, ultimately only a medical solution is likely to provide lasting relief to consumers and businesses servicing those consumers.” The market for fast-moving consumer goods faces considerable changes – impacted by the demand for consumer-packaged goods, changes in household spending, increase in e-commerce and frequency of shop visits. ...