Cardoso Assures on Banks’ Stability, Says MPC Decisions Target Increased Purchasing Power The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) in its 294th meeting held on Monday and Tuesday reviewed recent economic and financial developments in the country. In a communique issued...

Act Fast on Recapitalisation – CBN Tells Banks The Central Bank of Nigeria (CBN) has called on Deposit Money Banks (DMBs) in the country to act fast on the increase of their capital base in order to strengthen the financial system against potential risks. This was...

Again, CBN Jerks up Interest Rate to 24.75% The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate, MPR, it’s benchmark interest rate to 24.75% representing 200 basis points increase from 22.75% in February. The CBN Governor, Mr. Olayemi Cardoso, disclosed this at the...

Ginger Farmers Loss N12bn to Disease as FG Inaugurates Control Taskforce The Federal Government, on Monday, confirmed the outbreak of ginger blight epidemic in four states in Nigeria, adding that ginger farmers have lost over N12bn due to the disease. It disclosed this at the inauguration...

Ginger Farmers Loss N12bn to Disease as FG Inaugurates Control Taskforce The Federal Government, on Monday, confirmed the outbreak of ginger blight epidemic in four states in Nigeria, adding that ginger farmers have lost over N12bn due to the disease. It disclosed this at the inauguration...

Naira Continues to Strengthen, CBN Sells N1,251 per Dollar The Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change operators (BDCs), informing them that it has sold $10,000 to each BDC at a rate of N1,251/$1. In a circular issued by the...