CBN Communique No. 98 of the MPC Meeting of 24th and 25th November, 2014.

The MPC’s decision

1.  Increase the MPR by 100 basis points from 12.00 to 13.00 per cent.
2.  Increase the CRR on private sector deposits by 500 basis points from 15.00 to 20.00 per cent with immediate effect.
3.  Move the midpoint of the official window of foreign exchange market from N155/US$ to N168/US$.
4. Widen the band around the midpoint by 200 basis points from +/- 3 per cent to +/- 5 per cent. 
5.  Retain public sector CRR at its current level of 75.00 per cent.
6.  Maintain a symmetric corridor of +/- 200 basis points around the MPR.
7. Retain the net open foreign exchange trading position at 1.00 per cent.

The full communique is here