central bank of nigeria

The Central Bank of Nigeria,CBN rose from its maiden Monetary Policy Committee meeting of 2015 on Tuesday retaining the current monetary stance.

The apex bank retained interest rate at thirteen percent,cash reserve ratio for private sector fund at twenty percent and that of public sector fund at seventy-five percent.

CBN Governor,Godwin Emefiele, who expressed satisfaction on the performance of the Naira after the devaluation,however faulted JP Morgan’s index team stance  placing Nigeria on negative watch in the next three to five months.

Mr. Emefiele argued that Nigeria’s financial market remains liquid while reiterating the commitment of the bank to defend the naira and external reserves



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