The Central Bank of Nigeria (CBN) has cutback the Monetary Policy Rate (MPR) to 11% from 13% and Cash Reserve Ratio to 20% from 25%
The implication of these, is that there will be increment in the circulating cash flow to aid productivity and strengthen the Nigeria economy. However, the Government agency must consistently monitor the economy in order to prevent unnecessary inflation.
This is Nigeria's first cutback of MPR in six years (6yrs).
This is Nigeria's first cutback of MPR in six years (6yrs).
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