IMF Warns CBN of Financial Instability with Rate Hikes The International Monetary Fund has warned that Nigeria and other emerging economies are at risk of financial instability if benchmark interest rates are continuously raised. In a new report entitled, “Interest Rate Increases Volatile Markets Signal Rising...

CBN Raises Interest Rate To 15.5% to Curb Inflation The Central Bank of Nigeria (CBN), Monetary Policy Committee has again raised the interest rate by 150 basis points to 15.5%. The raise is the third time that the apex bank will increase rates in the last...

As Inflation Bites Harder, African Central Banks Poised for Rate Hikes Africa’s three biggest economies are poised to raise interest rates this week as well as next week while policy makers in several other countries stake out different approaches to navigate inflation shocks and bring...

13 Banks Generate N2.04trn Interest From Customers Loans, Securities Investment   A total of 13 banks generated N2.04trillion interest from customers loans, Securities investments, among others in first half year ended June 30, 2022 on the back of Central Bank of Nigeria (CBN) hike in the...

Buhari Commends CBN, NDIC, SEC, Others On Financial System Stability   President Muhammadu Buhari yesterday commended the Central Bank of Nigeria (CBN), alongside the Nigeria Deposit Insurance Corporation (NDIC), the National Insurance Commission (NAICOM) and the Securities and Exchange Commission (SEC), including other critical stakeholders for...

CBN Seeks to Boost the Operations of indigenous oil refiners CORAN, the umbrella body of indigenous crude oil refiners in Nigeria, has urged the Central Bank of Nigeria (CBN) to establish crude refinery intervention funds, similar to the Agricultural Credit Fund and Pharmaceutical Fund, which...