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General News of Tuesday, 26 January 2021

Source: today.ng

Central bank advises against total lockdown as coronavirus infections soar

The second wave of the virus is proving deadly The second wave of the virus is proving deadly

The Central Bank of Nigeria (CBN) has advised against the 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 percent, the Cash Reserve Ratio (CRR) at 27.5 percent, the Liquidity Ratio (LR) at 30 percent and the asymmetric corridor of +100/-700 basis points around the MPR.

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

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