CBN leaves lending rate unchanged, warns against lockdown

The Central Bank of Nigeria (CBN) has left all its indicative rates unchanged.

At its just-concluded first Monetary Policy Committee (MPC) meeting for 2021 held between Monday and Tuesday, the apex bank also warned Federal Government against locking down the country in the wake of the new wave of COVID-19 pandemic.

The bank left Monetary Policy Rate (MPR) at 11.5 per cent; Asymmetric Corridor at +100-700 basis points; Credit Reserve Ratio (CRR) at 27.5 per cent; and Liquidity Ratio at 30 per cent.

Reading the communique of the meeting, CBN Governor, Mr Godwin Emefiele, warned that further wholesome lockdown of the economy would erase the gains made since the previous lockdown was lifted.

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CBN leaves lending rate unchanged, warns against lockdown

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