The Central Bank of Nigeria held its key monetary policy rate at 6% on Tuesday, but said that it would introduce an asymmetric corridor around the key rate to promote lending.
The central bank also announced that a temporary ban on the use of bankers' acceptances and commercial paper would be lifted from 16 November, and that the 1% general provision on performing loans would be waived to avoid the cost of higher levels of sector provisioning.
Lamido Sanusi, the central bank's governor, said: "T
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