Amid rising calls for the resignation of the Central Bank Governor, Mr. Godwin Emefiele over the crash of the naira in the forex market, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) met Friday and has retained all its policy parameters constant with no reassurance on how to stem the sliding of the naira.
At the end of its fifth meeting for 2021, the committee retained Monetary Policy Rate (MPR) at 11.5%, Liquidity Ratio at 30%, Credit Reserve Ratio (CRR) at 27 5% and +100% -700% basis points around MPR.
Reading the communique of the MPC meeting, CBN Governor, Mr Godwin Emefiele said the committee decided to hold the rates to ensure that current policy efforts achieved their desired results.
