• Why CBN raises interest rate 12% to 14%

    Why CBN raises interest rate 12% to 14%

    The Central Bank of Nigeria, monetary policy committee has raised interest from 12% to 14%, the Apex bank governor , Gofwin Emefiele told reporters in Abuja.

    The committee also voted to retain cash reserve ratio at 22.5% and left the asymmetric corridor around MPC retained at +200 basis point(BPS) & -500 basis points(BPS) while Liquidity ratio was kept at 30%.

    These decisions was made at the first meeting held in Abuja on Tuesday, July 26, 2016 since the introduction of the new […]