Nigeria: Central Bank of Nigeria (CBN) retains 11.5% lending rate
The Central Bank of Nigeria (CBN) has left the Monetary Policy Rate unchanged at 11.5 per cent.
The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja on Tuesday.
Announcing this at the committee’s decision, Emefiele said that the parameters have supported the growth recovery.
“The MPC believes that the existing parameters have supported the growth recovery and should be allowed to continue for a little longer for consolidation to achieve the committee’s mandate of price stability conducive for growth.”
“Therefore, by unanimous vote, the MPC voted as follows, one, retain MPR at 11.5 per cent; retain the asymmetric corridor of +100/-700 basis points around the MPR; retain the CRR at 27.5 per cent; and retain the Liquidity Ratio at 30 per cent.”
Other parameters left unchanged are the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively.
He noted that the Committee believed that tightening or losing the rates at this time would be unfavourable to the country’s economic recovery.
Related Posts
Stanbic Bank Kenya Appoints Michael Mutiga as New CEO
Stanbic Bank Kenya has appointed Michael Mutiga as its new Chief Executive Officer, effective August 1, 2026, subject to regulatory…
By
African Risk Capacity confirms David Maslo as new CEO
African Risk Capacity Limited (ARC Ltd.), Africa’s first development-focused parametric insurer, has appointed David Maslo as its new…
Moniepoint Strengthens Banking Ambitions in Kenya with New CEO
Nigerian fintech unicorn Moniepoint Inc. has appointed former Branch Kenya Chief Executive Officer, Rose Muturi, as its Chief…
Interswitch Strengthens Kenya Fintech Business with New Managing Director
Interswitch has appointed Geoffrey Njuguna as the new Managing Director for its Kenya operations, reinforcing the company’s leadership as it accelerates…
Gallery
