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CBN reduces benchmark lending rate to 11.5%

CBN reduces benchmark lending rate to 11.5%

Governor of the Central Bank of Nigeria, Godwin Emefiele

After a two-day Monetary Policy Committee Meeting in Abuja, on Tuesday, September 22 2020, the Central Bank of Nigeria reduced the Monetary Policy Rate from 12.5 per cent to 11.5 per cent.

The Central Bank Governor, Godwin Emefiele, disclosed while presenting a communiqué after the meeting that the committee also voted to retain the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively.

Details later…

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