CBN Raises Interest Rate To 15.5% To Tame Inflation   The Monetary Policy Committee of the Central Bank of Nigeria has raised the benchmark interest rate from 14 to 15.5 per cent in order to tame the rising inflation rate. This represents a 150-basis-point increase from the...

CBN Increases Interest Rates on Savings Deposit to 4.2% The Central Bank of Nigeria (CBN) has instructed banks in Nigeria to pay savings deposit accounts an interest rate of at least 4.2%, an increase from the 1.4% previously received. This was contained in a circular by...

CBN Retains 5% Interest Rate For Critical Sectors   Sequel to its development finance initiative, the Central Bank of Nigeria (CBN) has agreed to leave interest rates at five per cent per annum for critical sectors and manufacturing industries until March 2023. The decision followed the resolution...

'Interest Rate May Rise Above 30%'   Average interest rates to end-users may rise above 30 per cent in future as banks begin to adjust lending rates to the new Monetary Policy Rate (MPR). The Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) last week increased...

CBN May Increase Interest Rate This Year - Report   A new report has said likely stronger dollar demand will convince the Central Bank of Nigeria of the need to tighten monetary conditions as with the trend across global central banks to manage foreign exchange reserve...

Investors Dump Equities Amid Anxieties Over CBN’s Rate Call         Nigerian equities closed at the weekend with a net loss of N604 billion as anxieties over the likely decisions of the Central Bank of Nigeria (CBN) on benchmark interest rate and other monetary policy tools fuelled...