Again, CBN Raises Interest Rate to 26.25% The Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), a benchmark interest rates, from 24.75 percent to 26.25 percent. The CBN Governor and the Chairman of the of Monetary Policy Committee (MPC), Mr. Olayemi Cardoso,...

CBN/MPC: Tackling Inflation with Bold Decisions, by Abdulrahman Abdulraheem   For a country struggling with youth unemployment, poverty and other social issues and whose Gross National Income (GNI) per capita is just a little above $2000, any increase in the prices of goods, general hike in...

Cardoso Assures on Banks’ Stability, Says MPC Decisions Target Increased Purchasing Power The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) in its 294th meeting held on Monday and Tuesday reviewed recent economic and financial developments in the country. In a communique issued...

Cardoso Assures on Banks’ Stability, Says MPC Decisions Target Increased Purchasing Power The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) in its 294th meeting held on Monday and Tuesday reviewed recent economic and financial developments in the country. In a communique issued...

Act Fast on Recapitalisation – CBN Tells Banks The Central Bank of Nigeria (CBN) has called on Deposit Money Banks (DMBs) in the country to act fast on the increase of their capital base in order to strengthen the financial system against potential risks. This was...

Nigeria's Money Supply Reaches Record N95.56trn in Feb 2024 Nigeria's Broad Money Supply (M3) has reached a new record high of N95.56 trillion as of February 2024. This figure represents a 79.29% increase from the previous year, despite the Monetary Policy Committee (MPC)’s recent pronouncements. This figure...