Still on the Central Bank Of Nigeria, the apex bank has increased the Monetary Policy Rate, MPR by 100 basis points to 17.5% from 16.5%.
He said that it was necessary to tighten its fiscal policy as previous increases have been yielding results with the slight drop in inflation .
Following the Monetary Policy Committee, MPC meeting in Abuja, Mr Godwin Emefiele, governor of the CBN clarified that records show that only 370.68 billion naira had been collected by banks as stamp duty from 2016 till date as against 89 trillion naira alleged against CBN.
It will be recalled that early in 2022, the CBN increased the MPR from 11.5% to 16.5%.
