CBN Raises Interest Rate To 16.5%   The Monetary Policy Committee of the Central Bank of Nigeria voted Tuesday to increase the benchmark interest rate by 100 basis points to 16.5 per cent, the highest since 2001. The CBN Governor, Godwin Emefiele, disclosed this while reading the...

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...

Forex Pressure, High External Reserve Remains As MPC Meets Monday, Tuesday   As the Monetary Policy Committee (MPC) meets Monday and Tuesday, there are posers over a relief for the weakening naira or the speedy inflationary rise, which has prevailed despite a $38.7 billion external reserve. Just...

In Seven Years, Nigeria’s Budget Deficit Rises to N30.58tn Analysis of the reports on the Budget Office of Nigeria’s website revealed that Buhari’s administration has reportedly spent at least N54.98tn on budget implementation since its inception but has only financed this spending with N24.39tn, leaving...

CBN Raises Interest Rate to 14% as Inflation Hits 18.6% The Monetary Policy Committee of the Central Bank of Nigeria has increase the benchmark interest rate (monetary policy rate) from 13% to 14%. This was disclosed by the Governor of the CBN, Godwin Emefiele, while reading...

CBN’s MPC Begins Two-day Economic Meeting Today   The Central Bank of Nigeria’s Monetary Policy Committee will begin its two-day bi-monthly meeting on Monday (today). This came as analysts at Cordros Securities predicted that the MPC would retain the lending rates in the market after its July...