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...

MPC To Retain Policy Rates As Analysts See Further Rise In Inflation   The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) meeting today is expected to retain its policy rates at current levels following the sharp increase in the inflation rate to...

Financial Experts Seek Lending Rate Reduction, MPC Meets Monday     Financial experts have said there is a need for the Monetary Policy Committee of the Central Bank of Nigeria to further reduce the benchmark lending rate to ease the challenges of COVID-19. The experts spoke to our...

Analysts Forecast Higher Inflation Rates     Economists and development analysts at the Centre for the Study of Economies in Africa (CSEA) have projected that the nation’s inflation rate may surge further in the months ahead as the various fiscal stimulus packages deployed to combat the pandemic...

Banks At Risk Of Loan Default - CBN Deputy Gov     The Deputy Governor, Financial Systems Stability Directorate, Central Bank of Nigeria, Aishah Ahmad, has said banks face imminent risk of loan default from exposure to oil-related lending. However, Ahmad, who is also a member of the...

In Four Months, Foreign Reserves Shed $5.09bn   The country’s foreign reserves have continued its downward trend, dropping by $5.09bn from $38.53bn on January 2, 2020 to $33.44bn as of April 28, 2020, latest statistics from the Central Bank of Nigeria have revealed. According to the figures,...