The Central Bank of Nigeria ended its Monetary Policy Committee meeting in Abuja on Tuesday with a resolution to reduce Monetary Policy Ratio, popularly called lending rate, from 13 per cent to 11 per cent.

The CBN governor, Godwin Emefiele, who announced the resolution of the Committee at the end of its meeting, also said members agreed to cut down on Cash ​Reserve ​Ratio for public and private sectors from 25 to 20 per cent.

The CRR is a monetary policy tool used to set the minimum deposits commercial banks must hold as reserves, rather than lend out during any given period.

Mr. Emefiele said that part of the key resolutions during the meeting was for the CBN to focus on playing its primary role of stimulating the growth of the economy by providing the needed funds commercial banks would use to to promote the continued operation of the real sectors of the economy.

He identified the sectors that would benefit from the special funding support from the CBN to include infrastructure (with emphasis on power), agriculture and the solid minerals.

Cc: lalasticlala

http://www.premiumtimesng.com/business/banking-and-finance/193843-cbn-reduces-lending-rate-to-11-percent.html

What is the impact on average Nigerians suffering in the street. Hope is not another politics of deceit.




11% indeed!!!!.


9ja go better no matter what.

Counting down Emefiele's days as governor.

oga

All is well
[size=19pt]Mrnas say so [/size]

Good step

He identified the sectors that would benefit from the special funding support from the CBN to include infrastructure (with emphasis on power), agriculture and the solid minerals.

wao...good news for papa chikodi

INTROVERT:
Counting down Emefiele's days as governor.

nice one

I wish Buhari will retain Emefiele, i love his policy and transformation

OnankpaBa:
I wish Buhari will retain Emefiele, i love his policy and transformation

yea, he's trying but Baba is unpredictable

ANOTHER GOOD WORK FROM MR PRESIDENT



Haters where are thou?

ify2016:
What is the impact on average Nigerians suffering in the street. Hope is not another politics of deceit.




11% indeed!!!!.


9ja go better no matter what.

from 13 per cent to 11 per cent, i think its a welcome development.

DONSMITH123:


yea, he's trying but Baba is unpredictable

Walahi

Great where is lalasticlala e don happen

Sai Buhari

Emefiele is still going .........loading.

Click "like" if you think Emefiele would be in office when it finally enters single digit.......

Cc: lalasticlala

great

Keneking:
Great where is lalasticlala e don happen

Sai Buhari

Emefiele is still going .........loading.

yesoooooo

Seen_next news please.......Baba go slow, is going fast now.....The change we all want is appearing gradually.

2% only?
Not a bad change

First goodnews

If it won't help strenghen the naira against the dollar,

If it won't help us in the fight against terrorism,

If it won't help eradicate poverty,

If it won't help bring stable electricity,

If it won't help bring down the price of petrol,


then ... It doesn't benefit me.

Great step in d right direction

okay, pls do something fast about the Dollar to Naira value difference. The gap is too wide. Do something ASAP!

Good take from CBN. Bad take from oil sector; i sometimes wonder what the increment on fuel was meant for at first. Baba go-slow, keep riding slow biko.

Really?

We go soon carry their matter go give Kogi people

Good news ...

He should also reduce the cross-platform ATM65 charge

ABJDOT:
Seen_next news please.......Baba go slow, is going fast now.....The change we all want is appearing gradually.

una funny

Can somebody pls enlighten me on how this affects common citizens in d country

When are going to remove or reduce collateral