The Central Bank of Nigeria (CBN) has on Tuesday retained the Monetary Policy Rate (MPR) at 11.5 per cent, along with all its parameters.
Mr. Godwin Emefiele, the CBN Governor, made this known on Tuesday, while presenting the decisions of Monetary Policy Committee after its two-day meeting in Abuja.
Emiefele also stated that committee retained the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent, respectively.
According to the CBN governor, the nation was facing stagflation, with a high inflation rate, with a low output growth but that his team was determined to make a significant change through the various interventions of the apex bank.
He also confirmed that the Tucano jets for which $1 billion was taken from the federation account, were paid for and that six of them would arrive in July, to bring about the necessary fight against in security in the country.