According to the Central Bank of Nigeria, Nigerians have repaid N4.05tn in personal loans during the second quarter of 2024.

The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has revealed the reasons behind the bank's decision to further tighten monetary policy, including raising the interest rate to 27.25%. 

Inflation: CBN to Maintain Tight Monetary Policy in 2024   The Central Bank of Nigeria (CBN) is likely to maintain a tight monetary policy stance to rein in inflation in 2024 according to analysts. Tight monetary policy is a set of measures taken by a country’s Central...

Monetary Reforms Yielding Positive Results - CBN The Central Bank of Nigeria said that its monetary policy reforms are beginning to have positive effects on the country’s economy. Reacting to the just-released inflation rate for October in a statement issued by the Director of the Corporate...

CRR Deductions: CBN Debits 15 Nigerian Banks N838.8 billion The Central Bank of Nigeria (CBN) has debited Nigerian banks a sum of N838.82 billion to mop up liquidity from the Nigerian economy. About fifteen banks were debited a sum of N838.82 billion for not meeting the...

FGN Bond: Tight Monetary Policy Threatens FG’s N720bn Borrowing Plan   The Federal Government’s plan to borrow about N720 billion through FGN bond auctions in the third quarter, Q3’22, has come under fresh threat following increasing investors’ appetite for higher yields triggered by the adoption of...