By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)- The Nigeria’s Central Bank Tuesday retained the Monetary Policy Rate (MPR) at 12 percent (12%) consecutively for the fourteenth time following its Monetary Policy Committee (MPC) held January 20-21 2013 in Abuja Nigeria.

However, the public sector cash reserve requirement (CRR) was tightened to 75 percent (75%) from the previous 50%, while CRR on private sector deposit was retained at 12% in the review period.

The MPC retained the lending corridor at about 200 basis point, its benchmark rate, according to Sanusi Lamido, Governor of Nigeria’s Central Bank; inflation was stable but expressed the concern of the MPC about a decrease in Nigeria’s crude oil savings and inflows from portfolio investors.