CBN Reduces CRR To 25 Percent
Posted by admin | 9 years ago | 2,432 times
The Central Bank of Nigeria has reduced the cash reserve ratio from 31 percent to 25 percent.
This was one of the major decisions reached by the Monetary Policy Committee of the apex bank, during its meeting that ended on Tuesday in Abuja.
Meanwhile, the CBN Governor, Godwin Emefiele who spoke to newsmen after the meeting, announce that Liquidity Ratio and the Monetary Policy Rate, MPR were retained at 30 percent and 13 percent respectively.
The committee equally retained the symmetric corridor of 200 basis points around the MPR.
The governor further revealed that gross official reserves decreased from 31.20 billion US Dollars to 30.63 billion US Dollars on Sept. the 17th.
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