UPDATE: Why we Jerked up Interest Rate - Cardoso The Central Bank of Nigeria (CBN) governor, Olayemi Cardoso, has said that the hike in interest rates is a response to the current inflationary pressures and the need to stabilise the Naira. Mr Cardoso made the clarification...

Interest Rate Hike: Equities Market Losses N773bn The domestic equities market, yesterday, extended losses from the previous session by N773 billion, as investors reacted to the outcome of the Monetary Policy Committee (MPC) meeting. The Nigeria’s apex bank has increased the country’s nominal risk-free rate by...

Interest Rate Hike: Equities Market Losses N773bn The domestic equities market, yesterday, extended losses from the previous session by N773 billion, as investors reacted to the outcome of the Monetary Policy Committee (MPC) meeting. The Nigeria’s apex bank has increased the country’s nominal risk-free rate by...

CBN Pays Another $400m to Clear FX Backlog The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has announced that the apex bank has paid another $400 million dollars backlog to address the overdue foreign exchange forward obligations. He made this known while responding...

CBN Raises Interest Rate to 22.75% as External Reserves Rise to $34bn The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the country's interest rate to 22.75 percent as part of measures to curb rising inflation. Economic Confidential recalls that the...

CBN to Sell $20,000 to BDCs, Pegs Exchange Rate at N1301 to a Dollar The Central Bank of Nigeria (CBN) has announced the sale of foreign exchange to Bureau de Change (BDC) operators in the country. This was contained in a memo issued on Tuesday and...