No Plan to Unify Exchange Rate - CBN   The Central Bank of Nigeria (CBN) has denied that its recent forex liberalisation policy was aimed at unifying the exchange rate. Fielding questions from journalists after the two-day Monetary Policy Committee (MPC) meeting on Tuesday, the acting CBN...

UPDATE: Why we Raised Interest Rate to 18.75 Percent - CBN The Central Bank of Nigeria (CBN) has explained why it raised lending rate (MPR) by 25 basis points, from 18.50 percent in May 2023 to 18.75 percent in July as it battles inflationary pressure. Addressing...

CBN Raises Interest Rate to 18.75% The Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the benchmark interest rate by 25 basis points to 18.75 per cent. The Acting CBN Governor, Folashodun Shonubi, disclosed this while reading the communiqué of the...

NPA to Probe Officers Involved in Extortion along Port Access Roads The Nigerian Ports Authority NPA has disclosed that there is an increasing extortion along the access roads of the Lagos and Tin Can Island Port Complexes and vowed to deal with staff members involved. This...

Hours After Getting Bail, DSS Rearrests Emefiele  The Department of State services (DSS) has rearrested Godwin Emefiele, the suspended governor of the Central Bank of Nigeria (CBN). The operatives of the secret police took custody of Emefiele after a physical fight with officials of the Nigerian...

Foreign Investment in Stock Market Declines by 40.4% to N145.1bn in H1’23 Foreign investment into the stock market, Nigerian Exchange Limited, fell Year on Year, ( YoY) by 40.4% to N145.08 billion in the first half, HI’23 from N243.48 billion in H1’22. The decline reflects low...