Nigeria: CBN Reduces Interest Rates By 50 Basis Points to 26.5 Percent

The Central Bank of Nigeria (CBN) has reduced Monetary Policy Rates (MPR) by 50 basis points from 27 per cent to 26.5 per cent

Central Bank governor, Olayemi Cardoso, made the disclosure while briefing the media at the end of the 304th Monetary Policy Committee meeting in Abuja on Tuesday

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“The Committee decided to reduce monetary policy rates by 50 basis points to 26.5%

“Also, Committee decided to retain the cash reserve requirements for deposit money…