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Monetary Policy Decisions
MPC Meeting of December, 2004
- There was no new monetary policy action introduced at the meeting.
MPC Meeting of June, 2004
- Withdrawal of public sector deposits amounting to
N74.5 billion (75.6 per cent of such deposits) from the deposit money banks to the CBN with effect from July 21, 2004;
- Phased recall of public sector funds with the deposit money banks to be sustained.
MPC Meeting of February, 2004
- Approval of a selective withdrawal of public sector funds from the banking
system, targeting a total of