CBN governor, Mr. Godwin Emefiele

The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday left the Monetary Policy Rate unchanged at 14 per cent.

The CBN Governor, Mr Godwin Emefiele, announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja.

He explained that all the eleven members of the committee that attended the meeting agreed to maintain the current monetary policy stance.

He said apart from the MPR which was retained at 14 per cent, the committee also retained the Cash Reserves Ratio at 22.5 per cent.

Also retained are the Liquidity Ratio which was left at 30 per cent; and the Asymmetric Window which was left at +200 and -500 basis points around the MPR.

Also, South Africa’s MTN has paid $53 million to settle a money transfer dispute with Nigeria’s central bank and the matter has been withdrawn from court, Governor Godwin Emefiele said on Tuesday.

More details to follow…

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