This followed the meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). The monetary policy rate measures the benchmark interest rate.
The CBN governor Yemi Cardoso announced this in Abuja on Tuesday during the last MPC meeting of the year at the apex bank’s headquarters.
Cardoso said the MPC voted unanimously to raise the MPR by 25 basis points from 27.25% to 27.50%; and retain the Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks.
The CBN chief also said the MPC retained the Liquidity Ratio (LR) at 30% and Asymmetric Corridor at +500/-100 basis points around the MPR.
A psychologist and psychiatrist, Dr. Adeoye Oyewole, has raised concerns about the mental health challenges…
NNPCL PRESS RELEASE NNPC Ltd Reaffirms Progress on Port Harcourt Refinery and Addresses Misleading Claims…
The Coalition of Nigerian Youth Leaders (CONYL) has expressed confidence that Seyi Tinubu, son of…
The Senate has advanced moves to mandate the inclusion of 20% high-quality cassava flour in…
Nigeria’s Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, has declared that President Bola…
The Economic and Financial Crimes Commission (EFCC) has confirmed the arrest of Yahaya Bello, the…