CBN has retained Monetary Policy Rate at 11.5%.
Gatekeepers News reports that the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) retained the Monetary Policy Rate (MPR) at 11.5 percent.
The apex bank Governor, Godwin Emefiele, made the disclosure on Friday during a press briefing at the CBN headquarters in Abuja, the nation’s capital, after the two-day rates decision meeting.
Emefiele said the committee welcomed the fifth drop in inflation in the month of August 2021.
Gatekeepers News reports that the CBN governor, while speaking on the exchange rates, said the committee also commended the banks on meeting forex demands and that all forex must be necessarily conducted at the Importer and Exporter (I&E) window to ensure stability.
He urged operators must comply with the stipulated guidelines as the CBN tries to get rid of illegal fx dealers in Nigeria.
