Nigeria’s Central Bank Raises Interest Rate to 15.5% in 20yrs.
In its bid to curb the nation’s surging inflation, Nigeria’s Apex bank, CBN’s Monetary Policy Committee yesterday, September 27th, 2022, unanimously voted to raise both the MPR (monetary policy rate) and the CRR (cash reserve ratio) while holding all other... Read More →
Nigeria’s Apex Bank, CBN raises Monetary Policy Rate to 13%, to rein in Inflationary Pressures.
All of the Monetary Policy Committee members voted for an upward review of the Monetary Policy Rate (MPR), given that Nigeria’s headline inflation increased by 16.82% in April 2022 compared to 15.92% in March 2022. The MPR was increased to... Read More →
MPC maintains status quo at the end of the 2022 maiden meeting.
The maiden MPC meeting of the Central Bank of Nigeria, CBN, for 2022 ended yesterday, maintaining all parameters. This according to the CBN was geared towards supporting Economic Growth Given the peculiarity of Nigeria’s problem of fuel and diesel scarcity,... Read More →