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CBN advises against total lockdown as COVID-19 infections soar

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COVID-19: CBN intervention fund inaccessible to medical labs — GMLD

…Retains MPR at 11.5%
…Expresses concern over rising debt levels

By Babajide Komolafe

The Central Bank of Nigeria (CBN) has advised against complete lockdown of the economy as a way of curbing the second wave of the COVID-19 pandemic.

The apex bank also retained the Monetary Policy Rate (MPR) at 11.5 per cent, the Cash Reserve Ratio (CRR) at 27.5 per cent, the Liquidity Ratio (LR) at 30 per cent and the asymmetric corridor of +100/-700 basis points around the MPR.

Also read: Emefiele has halted recession,energised Naira with new diaspora remittance policy,says group

CBN Governor, Godwin Emefiele disclosed this at the just-concluded meeting of the bank’s Monetary Policy Committee (MPC) in Abuja.

Vanguard News Nigeria

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