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.

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

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