Central Bank of Nigeria retains interest rate at 27.5%

Jokpeme Joseph Omode February 20, 2025

 The Central Bank of Nigeria, CBN, has retained the Monetary Policy Rate, MPR, as its benchmark interest rate at 27.5%.

 


Governor of CBN, Olayemi Cardoso, disclosed this at the end of the Monetary Policy Committee (MPC) meeting of the apex bank.


He said: “The committee was unanimous in its decision to hold all parameters and thus decided as follows: retain the MPR at 27.50%, retain the asymmetric corridor around the MPR at plus 500 to minus 100 basis points. Retain the cash reserve ratio of deposit money banks at 50% and merchant banks at 16% and retain the liquidity ratio at 30%.”

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Jokpeme Joseph Omode

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Jokpeme Joseph Omode stands as a prominent figure in contemporary journalism, embodying the spirit of a multifaceted storyteller who bridges history, poetry, and investigative reporting to champion social progress. As the Editor-in-Chief and CEO of Alexa News Network (Alexa.ng), Omode has transformed a digital platform into a vital voice for governance, education, youth empowerment, entrepreneurship, and sustainable development in Africa. His career, marked by over a decade of experience across media, public relations, brand strategy, and content creation, reflects a relentless commitment to using journalism as a tool for accountability and societal advancement.

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