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CBN Reduces Benchmark Lending Rate To 11.5%

The Central Bank of Nigeria on Tuesday reduced the Monetary Policy Rate from 12.5 per cent to 11.5 per cent after the two-day Monetary Policy Committee Meeting in Abuja.

The committee also voted to retain the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively.

The Central Bank Governor, Godwin Emefiele, disclosed this while presenting the communiqué after the meeting.

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