CBN Reduces Savings Account Interest Rate To 1.25%     The Central Bank has ordered all Deposit Money Banks to review interest rates on savings accounts to a minimum of 10 per cent of the Monetary Policy Rate effective from September 1, 2020. This would amount to 1.25...

Forex Uncertainty Worries Businesses As CBN Retains 12.5% Interest Rate     The Central Bank of Nigeria on Monday retained the country’s benchmark interest rate or Monetary Policy Rate at 12.5 per cent. It also held all other monetary policy parameters constant, as the bank stated that its...

CBN Retains Interest Rate At 12.5%     The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has held the Monetary Policy Rate (MPR) constant at 12.5%. This was disclosed by Governor, CBN, Godwin Emefiele while reading the communique at the end of the MPC meeting...

Tinubu To CBN: Cut Interest Rates To Boost Economy   The National Leader of the All Progressives Congress, Asiwaju Bola Tinubu, has said the Central Bank of Nigeria should seize the opportunity of the coronavirus crisis to lower interest rates in a bid to boost the...

BoI Cuts Interest Rates By 2%     The Bank of Industry on Monday said it has reduced the interest rates on all its funded projects from 10 per cent to eight per cent per annum. The bank said the decision, which took effect from April 1, had...

CBN Considers Lower Rate As Trade, Economy Decline   The Central Bank of Nigeria (CBN) is considering interest rate cut to stimulate growth and protect the economy, its Governor, Godwin Emefiele, has said. Speaking at the Going for Growth Session held at the weekend in Abuja, the...