…Says economy still in recession
Kunle Kalejaye
24 January 2017, Sweetcrude, Lagos — The Central Bank of Nigeria, CBN Monetary Policy Committee have retained the benchmark interest rates at 14 percent.
This was announced by the CBN Governor, Godwin Emefiele on Tuesday at the end of the MPC meeting.
Emefiele added that the committee also decided to keep cash reserve ratio and liquidity at 22.5 percent and 30 percent respectively.
He explained that the liquidity ratio was kept within the symmetric window of +200 and -500 basis around the MPR noting that the country’s economy was still in recession.
He, therefore, urged the government to stepped up efforts to settle domestic indebtedness to states to help revamp the economy.