Nigeria: CBN Retains Hobby Rates At 27.5 P.c

The Monetary Coverage Committee (MPC) of the Central Monetary institution of Nigeria (CBN) has retained Monetary Coverage Rates at 27.5 per cent

Governor of the Central Monetary institution, Olayemi Cardoso, made the disclosure while briefing the media after the 301st MPC assembly in Abuja, on Tuesday.

He acknowledged the Committee voted to retain Monetary Coverage Rates at 27.5 per cent. retain money reserve ratio for Deposit Mobey Banks at 50 per cent and Merchant banks at 16 per cent

“Also Liquidity Ratio has been maintained at 30 per cent,” he acknowledged.

Cardoso added the resolution became premised on the must withhold efforts in curbing inflation and withhold impress as it will most likely maybe per chance address rising financial pressures.

He moreover printed that 8 banks had up to now met recapitalisation requirements of the CBN while others had been working laborious to meet up.