The Monetary Policy Rate (MPR) has been slashed to 12.5 percent by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria

The MPR is a major tool used by the Central Bank of Nigeria via the MPC to control interest/ lending rates

CBN Protracts Intervention-loan Pay back By One Year

This is the seconding MPC meeting in a row that will be held under COVID-19 protocols. While delivering the communique, CBN Governor, Godwin Emefiele said other monetary policy parameters remained unchanged.

Emefiele said the MPC resolved to retain the Liquidity Ratio at 30 per cent, Cash Reserve Requirement (CRR) at 27.5 per cent and the asymmetric corridor at +200/-500 basis points around the MPR.

A few weeks back Asiwaju Bola Ahmed Tinubu had called on the CBN to reduce interest rates so that investors and manufacturers can access fund at a cheaper.

More updates as events unfold…