The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) hiked the Monetary Policy Rate (MPR) by 400 basis points to 22.75 percent, up from 18.75 percent previously.
Governor of the Central Bank of Nigeria, Yemi Cardoso, said this following the first MPC meeting of the year on Tuesday in Abuja.
The MPC also increased the Cash Reserve Ratio (CRR) to 45 percent, while the liquidity ratio remained steady at 30%. [CONTINUE READING HERE]
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