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Once more, CBN Jerks up Curiosity Charge to 24.75%
The Central Financial institution of Nigeria (CBN) has raised the Financial Coverage Charge, MPR, it’s benchmark rate of interest to 24.75% representing 200 foundation factors enhance from 22.75% in February.
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The CBN Governor, Mr. Olayemi Cardoso, disclosed this on the finish of the Financial Coverage Committee, MPC, the assembly in Abuja.
The CBN nonetheless retained the Money Reserve Ratio, CRR of business banks to 45% however adjusted upward the CRR of service provider banks from 10% to 14%.
The apex Financial institution additionally retained the liquidity ratio of banks at 30%.
The CBN additionally modified the uneven hall from +100/-700 to +100/-300 across the MPR.
Particulars later.
