Currency Outside Banks Drops by 3.32% – CBN Currency held outside of Nigeria’s banking system dropped to N3.66tn in July, about 3.32 per cent lower than it was in the previous month. This was disclosed in Money and Credit data available on the website of the...

JUST IN: CBN Raises Interest Rate to 26.75% Amidst Inflationary Pressures   The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has again increased the benchmark interest rate by 50 basis points from 26.25 per cent to 26.75 per cent. This was disclosed by...

Nigerians Facing Consequences of Excess N37.5tn Money Supply into Economy – Cardoso The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that Nigerians are facing the consequences of excess money supply into the economy, citing the N27tn Ways and Means loan...

Nigeria’s Money Supply Nears N100trn in May Nigeria’s money supply (M3) has surged to nearly N100 trillion, hitting a new peak of N99.24 trillion in May 2024. The latest money and credit statistics data from the Central Bank of Nigeria (CBN) reveals a month-on-month (M-o-M) increase...

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...