Video - Nigerian central bank keeps benchmark interest rate at 14%

Nigeria's central bank has kept its benchmark interest rate at 14 percent, after the statistics office said Africa's biggest economy contracted in the first quarter. Governor Godwin Emefiele says the bank's Monetary Policy Committee had voted to retain the headline rate. The statistics office has published data showing that Africa's biggest economy, in its second year of a recession caused by low oil prices, contracted in the first quarter by 0.52 percent.