The Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) by 25 basis point to 27.25% following a meeting of the Monetary Policy Committee (MPC).
In addition to the MPR hike, the CBN has decided to retain the liquidity ratio at 30% and maintain the cash reserve ratio (CRR) at 50%.
The Central Bank of Nigeria (CBN) governor Olayemi Cardoso announced this in Abuja on Tuesday during the last MPC meeting of the year at the apex bank’s headquarters.
More details to follow…..
