National News
BREAKING: CBN Announces Approved Lending Rate
The Central Bank of Nigeria has retained the same lending rate it started using since September this year.
The Central Bank of Nigeira’s approved Monetary Policy Rate is now 11.5 per cent.
This comes after the Monetary Policy Committee of the Central Bank of Nigeria gave its nod for it to be effected.
The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja on Tuesday.
It also retained the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively.
At the last MPC meeting in September, the committee reduced the MPR from 12.5 per cent to 11.5 per cent.
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