CBN Predicts Increased Food Production as FG Improves Security in North-East The Central Bank of Nigeria (CBN) has predicted an improvement in food production in the country, following the Federal Government's efforts to improve security in the North-East. Speaking at the end of the 298th Monetary...

CBN Raises Interest Rate to 27.50% to Combat Inflation The Central Bank of Nigeria (CBN) has increased the interest rate by 25 basis points to 27.50% to tackle the rising inflation rate, which stood at 33.87% in October 2024. This decision was made during the 298th...

The Central Bank of Nigeria (CBN) has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators

Capital Expenditure Suffers as FG Services Debt with N7.4tn The Federal Government’s expenditure report for the first eight months of 2024 has laid bare the heavy toll debt servicing is taking on Nigeria’s finances. Between January and August, a total of N7.41tn was spent on servicing...

MPR Hike: UBA, Zenith, 17 Other Banks Pay 8.18% Interest on Savings Aligning with the Central Bank of Nigeria’s (CBN) recent monetary policy adjustment, Nineteen deposit money banks are now offering an 8.18 percent interest rate to customers for their savings. Commercial banks are mandated to...

Foreign Trade Payments in LC Drop by 146% to $434.05m   Nigeria’s foreign trade payments through Letter of Credit (LC) fell by 146.5 percent year-on-year (YoY) to $434.05 million in the first nine months of 2024 (9M’24) from $1.07 billion in the corresponding period of 2023. The...