Here’re 5 implications on Nigeria’s economy as MPC trims MPR by 100bp

Nigeria’s external reserves plunge to one-year low

Central Bank of Nigeria (CBN)

In a bid to salvage Nigeria’s economy from the negative impact of COVID-19, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) trimmed its benchmark lending rate on Tuesday by 100 basis points to 11.5 percent. According to the Central Bank Governor, Godwin Emefiele 60 perc

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