The Central Bank of Nigeria maintains its lending rate at 11.5 percent.

Godwin Emefiele, Governor of the Central Bank of Nigeria

The Nigerian Central Bank has maintained its Monetary Policy Rate at 11.5 percent.

Godwin Emefiele, Governor of the Central Bank of Nigeria, announced this during a briefing following Tuesday’s first Monetary Policy Committee meeting of the year in Abuja.

The Cash Reserve Ratio and Liquidity Ratio remain constant at 27.5 percent and 30%, respectively.

Emefiele stated in a statement announcing the committee’s decision, “After carefully weighing the benefits and downside risks of policy options, the MPC decided to maintain all parameters constant, believing that a consistent stance will enable the continued permeation of current policy measures in supporting the recorded growth recovery and further boosting production and productivity, which will ultimately rein in inflation in the short to medium term.”

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The Central Bank of Nigeria maintains its lending rate at 11.5 percent.
“By unanimous vote, the MPC agreed to maintain the MPR at 11.5 percent; to maintain the asymmetric corridor of +100/-700 basis points around the MPR; to maintain the CRR at 27.5 percent; and to maintain the Liquidity Ratio at 30%.”

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