The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) from 13.50% to 12.50% for the second quarter of the year.
Naija News understands that the meeting was initially scheduled to hold on Monday and Tuesday.
However, The Governor of CBN, Godwin Emefiele who made this known while reading the communique at the end of the MPC meeting earlier today revealed that the Cash Reserve Ratio (CRR) remained at 27.5%, Liquidity ratio at 30%.
Naija News also recalls that the Central Bank of Nigeria (CBN), had earlier approved a regulatory forbearance for the restructuring of credit facilities in the Other Financial Institution (OFI) sub-sector.
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