•Says banks no longer need forbearance

•External reserves sustains upward trend, hit $52.5bn

By Emma Ujah, Abuja Bureau Chief

The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 per cent.

CBN Governor, Mr. Olayemi Cardoso, announced the decision yesterday after the 306th Monetary Policy Committee (MPC) meeting in Abuja.