CBN Cuts Benchmark Lending Rate To 11.5%

The Central Bank of Nigeria has cut down the Monetary Policy Rate from 12.5% to 11,5% after the two-day Monetary Policy Committee Meeting in Abuja.

The committee also voted to retain the Cash Reserve Ratio and Liquidity Ratio at 27.5 percent and 30 percent respectively.

The Central Bank Governor, Godwin Emefiele, disclosed this while presenting the communiqué after the meeting.

More details to follow…