The Nigerian Employers’ Consultative Association (NECA) has lauded the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) over its decision to reduce the Monetary Policy rate from 13.5 per cent to 12.5 per cent.
The MPC had during its quarterly meeting, on Thursday, in Abuja, reviewed downward the MPR, the rate at which the CBN lends to commercial and other banks.
In a statement on Thursday, NECA said, “The major decision from the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its May 2020 meeting was the reduction of the Monetary Policy Rate (MPR) from 13.5 per cent to 12.5 per cent. We believe that this development signals a…
Source: Nigerian Tribune
