The Nigerian government has put in place a series of measures to reinvigorate its activities and promote economic recovery. Thus, the Central Bank has decided to maintain its main policy rate. Members of the Monetary Policy Committee of the Central Bank of Nigeria voted to maintain the institution's various rates. In a statement issued on Tuesday, May 25, Godwin Emefiele, Governor of the Bank, said the Bank has taken the decision to maintain its main policy rate at 11.5% for the fifth consecutive time since its lowering in September 2020.

This decision is justified by the institution's determination to support the economic recovery after quite encouraging results in recent months. "The committee remains very largely committed to supporting the federal government's efforts to ensure the complete restoration of the Nigerian economy," said Godwin Emefiele. The Bank also announced that it intends to maintain consistency on other financing parameters. As a result, the cash reserve ratio was maintained at 27.5%, and the liquidity ratio remained at 30%.