With a unanimous vote, members of the Monetary Policy Committee of the Central Bank of Nigeria (CBN) on Thursday slashed the Monetary Policy Rate to 12.5 percent to spur lending to the economy which faces imminent recession on twin pressures of COVID-19 pandemic and low oil prices.
But the CBN retained the Cash Reserve Ratio (CRR) at 27.5 percent and also left the Liquidity Ratio (LR) at 30 percent, Godwin Emefiele, CBN governor, said during a virtual briefing after the meeting.
The apex bank also retained the asymmetric corridor around the MPR at +200/-500 basis points.
Details soon…
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
