By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AIT LIVEAIT LIVEAIT LIVE
  • Live TV
  • Politics
  • National News
  • Business
  • Sports
  • Tech
  • Entertainment
  • Global
  • Videos
Font ResizerAa
Font ResizerAa
AIT LIVEAIT LIVE
Search AIT
  • Live TV
  • Politics
  • National News
  • Business
  • Sports
  • Tech
  • Entertainment
  • Global
  • Videos
Follow US

CBN plans cash mop up to control inflation

Last updated: January 24, 2020 5:39 pm
5 years ago
Share
1 Min Read
CBN

The Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, is concerned about the continuous rise in inflation and has increased the Cash Reserve Ratio, CRR, from 22.5 percent to 27.5 percent

Speaking at the first MPC meeting for 2020, CBN Governor, Godwin Emefiele, said the move has become important to mop up liquidity and control inflation.

The MPC also called on the Federal Government to come up with innovative ways of solving challenges that induce inflation such as the farmers-herders clashes.

Also Read: Osinbajo meets South-West Governors over Amotekun

The meeting also urged banks to sustain the borrowing to the real sector which was observed has increased by N2 trillion.

Other key rates which include the interest rate was retained at 13.5 percent.

Share This Article
Facebook Twitter Whatsapp Whatsapp Email Print
Leave a comment

Leave a Reply Cancel reply

You must be logged in to post a comment.

RSS APO Group – Africa-Newsroom: latest news releases related to Africa

  • Economic Community of West African States (ECOWAS) women reclaim purpose and power at 2025 international women’s day retreat May 31, 2025
  • United Arab Emirates (UAE) Expresses Solidarity with Nigeria and Conveys Condolences Over Victims of Flood May 31, 2025
  • Breaking News: African Leadership Magazine Announces Winners for the 2025 African Business Leadership Awards (ABLA) May 31, 2025
  • Minister and Tunisian Foreign Minister discuss cooperation May 31, 2025
  • International Monetary Fund (IMF) Staff Conclude Article IV Discussions and Reach Staff-Level Agreement on the Third Review of the Extended Credit Facility for Ethiopia May 30, 2025

Trending

aitlive 9
Breaking: INEC admits glitch in results transmission as Court Reserves Judgement In Atiku’s Petition Against Tinubu, electoral body
2023 Elections Headlines
aitlive 1 19 1
Nigeria Air: MD Confirms Unveiled Aircraft Was Hired Ethiopia Flight
Local
LABOUR PARTY
Breaking: LP And Presidential Candidate, Peter Obi, Get Court Permission To Inspect Forensic Materials
2023 Elections
AIT-IMAGES - US House Republicans
US House Republicans authorize Biden impeachment inquiry
World
PETER OBI
Drama in court as judges order Peter Obi’s legal team to go home
Headlines

Section

  • Headlines
  • Local
  • Business
  • Politics
  • Sports
  • Crime
  • Education
  • Health
  • Entertainment

Programmes

  • Kakaaki
  • Focus Nigeria
  • Democracy Today
  • People Politics and Power
  • News Hour
  • AIT Reports
  • World News
  • Moneyline With Nancy
  • Jigsaw

About Us

  • About AIT
  • Our History
  • Our Awards
  • Our Values
  • Privacy Policy


Follow US
© AIT.LIVE. All Rights Reserved.
Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

THE MOST IMPORTANT NEWS HEADLINE AND EVENT OF THE DAY

Subscribe to our mailing list to receive daily news update direct in your inbox!

Zero spam, Unsubscribe at any time.
Welcome Back!

Sign in to your account

Lost your password?