CBN Changes gear, Move CRR to 27.5% The monetary Policy committee of the Central Bank of Nigeria (CBN) has announced its decision to move the Cash Reserve Ratio (CRR) formerly at 22.5% to 27.5%. Speaking to newsmen after the committee’s meeting in Abuja, the CBN governor,...

CBN Changes Gear, Reduces MPR to 13.5% The Central Bank of Nigeria (CBN) at its Monetary Policy Committee (MPC) held at the banks’ headquarters in Abuja resolved to reduce the Monetary Policy Rate (MPR), also known as interest rate, by 50 basis points to 13.5...