Business Money

CBN advises against total lockdown as COVID-19 infections soar

, CBN advises against total lockdown as COVID-19 infections soar, Effiezy - Top Nigerian News & Entertainment Website

The Central Bank of Nigeria (CBN) has advised against complete lockdown of the economy as a way of curbing the second wave of the COVID-19 pandemic.

The apex bank also retained the Monetary Policy Rate (MPR) at 11.5 per cent, the Cash Reserve Ratio (CRR) at 27.5 per cent, the Liquidity Ratio (LR) at 30 per cent and the asymmetric corridor of +100/-700 basis points around the MPR.

YOU MAY ALSO LIKE:   Nigeria’s external reserves will hit $40bn in 2018 – Emefiele

CBN Governor, Godwin Emefiele disclosed this at the just-concluded meeting of the bank’s Monetary Policy Committee (MPC) in Abuja.

Kindly share this story

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.