Massive oil thefts threatening external reserves, revenue – MPC 

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The Monetary Policy Committee of the Central Bank of Nigeria on Monday decried the negative impact of the increasing oil thefts on the economy.

The Governor, Central Bank of Nigeria, Godwin Emefiele, who is also the chairman of the MPC, disclosed this after the committee’s meeting in Abuja.

He said the MPC “retained the Monetary Policy Rate at 11.5 per cent; asymmetric corridor of +100/-700 basis points around the MPR; Cash Reserve Ratio at 27.5 per cent; and liquidity ratio at 30 per cent.

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