The Central Bank of Nigeria Tuesday raised the Monetary Policy Rate by 100 basis points to 16.5 per cent from 15.5 per cent.
The central bank, however, retained bank’s Cash Reserve Requirement at a minimum of 32.5 per cent as well as the Liquidity Ratio at 30 per cent. CBN Governor, Mr. Godwin Emefiele, while addressing journalists after the two-day meeting of the Monetary Policy Committee in Abuja, he said the move was a further response to curtail the rising inflation and boost growth.
He also hinted that the much-awaited redesigned Naira notes will be unveiled tomorrow by President Muhammadu Buhari at the Presidential Villa.Founded on January 22, 1995, THISDAY is published by THISDAY NEWSPAPERS LTD., 35 Creek Road Apapa, Lagos, Nigeria with offices in 36 states of Nigeria , the Federal Capital Territory and around the world.
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