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CBN Retains Interest Rate At 13.50%

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CBN Shuts Down 42 Microfinance Banks (See Names And Address)

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 13.50%.

The governor of the Central Bank of Nigeria, Godwin Emefiele, made this known on Tuesday while addressing journalists at the end of the two-day meeting of the monetary policy committee of the bank.

He said $1.2 billion to $1.5 billion is spent every year to import milk.

Emefiele also confirmed that the bank will restrict forex for the importation of milk.

More details soon…

Source: Naija News

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