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Breaking: CBN retains rate at 14 %

  • …As External reserves rise above $34 b
  • $3 Eurobond oversubscribed by $11 b

By Emma Ujah, Abuja Bureau Chief

The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 14 per cent.  All  other parameters were equally retained.

The Governor of the bank, Mr. Godwin Emefiele, disclosed this at a press briefing after the Monetary Policy Committee (MPC) meeting in Abuja.

He also disclosed that the $3 billion Eurobond introduced to the international capital market last week has been oversubscribed by $11 billion.

A development, he said, was an indication of international investors’ confidence in the Nigerian economy.

The nation’s external reserves, Mr. Emefiele also disclosed, has risen over $ 34 billion.



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