The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, said this while addressing journalists after a two-day meeting of the Monetary Policy Committee in Abuja. He said the idea of a digital currency would soon become a reality in the country, and that the central bank has already set up its committee, which is working on the concept. The MPC on Tuesday retained the Monetary Policy Rate (MPR) at 11.5 per cent, voted to maintain the asymmetric corridor of +100/-700 basis points around the MPR, retained the Cash Reserve Ratio at 27.5 per cent, and left the Liquidity Ratio at 30 per cent. Mr Emefiele appealed to bandits and others involved in criminal activities across Nigeria to drop their arms and embrace the apex bank’s Anchor Borrowers’ Programme (ABP). He said those involved in criminality can be more productive by embracing the apex bank’s scheme. “ If you want an economy to grow, the level of insecurity must be low because if there is a high level of insecu...
The best ideas, the simplest solutions, great results. This encapsulates what we offer in form of business, marketing and technoloy solutions, all geared towards improving your business processes and profitability.