JUST IN: CBN tackles illegal foreign exchange operators, retains MPR at 11.5 %

By Eyo Nsima

 The Central Bank of Nigeria (CBN), Friday, disclosed the retention of the Monetary Policy Rate (MPR), at 11.5 percent and the asymmetric corridor of +100/-700 basis points around the MPR.

Addressing the press at end of the Monetary Policy Committee (MPC) meeting in Abuja, the CBN Governor, Mr. Godwin Emefiele, announced that the Cash Reserve Ratio at 27.5 percent and 30 Liquidity Ratio were equally maintained.

According to him, the MPC retained the MPR, along with other parameters, in its decision to allow the necessary stability for policy objectives to come

Emefiele also expressed his determination to tackle illegal operators in the foreign exchange market in order to stop them from impacting negatively on the bank’s policy measures and by extension the nation’s economy.

.Details coming later