CBN retains lending rate at 27.5%
The Central Bank of Nigeria (CBN) has retained its key lending rate, known as the Monetary Policy Rate (MPR), at 27.5 per cent.
The CBN Governor, Yemi Cardoso, announced the decision on Tuesday in Abuja, during the 301st Monetary Policy Committee (MPC) meeting.
Mr Cardoso said that all 12 MPC members voted unanimously to hold all key monetary parameters.
The committee, thus, retained the cash reserve ratio at 50 per cent for deposit money banks and 16 per cent for merchant banks.
It also retained a liquidity ratio at 30 per cent, and the asymmetric corridor was held at +500/-100 basis points around the MPR.
With this decision, the MPC has retained the rates for three consecutive meetings.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Economy
Navy recovers 80,000 litres of suspected stolen crude oil in Delta
The Nigerian Navy recovered approximately 80,000 litres of crude oil in anti-crude oil theft operations in Delta State.
States
Kano govt restores 39.8 million-litre Goron Dutse reservoir after 30 years
Governor Abba Yusuf said restoring the facility was part of his government’s broader effort to revive the state’s critical infrastructure.
Sport
AFCON Qualifiers: Guinea-Bissau trash Nigeria 3-0
The victory lifted Guinea-Bissau to the top of Group L with six points while Nigeria’s qualification hopes suffered another setback.
Economy
Pension fund assets rise to N31.8 trillion
The National Pension Commission (PenCom) says pension assets grew by N289.40 billion from the N31.51 trillion recorded at the end of July.
World
Three teenagers die after car veers into river
Police said the fourth person, a 17-year-old survivor, will be questioned.
Showbiz
Saved by the Bell actor Dennis Haskins dies at 75
His agent, Jay Schachter, confirmed the news of his death, which occurred on Sunday in Burbank, California.
