According Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), it's Monetary Policy Committee (MPC) has increased the benchmark interest rate by 150 basis points to 26.25% from 24.75%. 

Foreign Exchange: 136% of 2023 Inflows Recorded in QI – Cardoso The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has disclosed that the foreign exchange inflows recorded in the first quarter of 2024 into Nigeria were about 136 per cent of the...

Inflation to Reduce in Coming Months – Cardoso The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has expressed optimism that with the measures in place, core and headline inflation will come down in the coming months. He also disclosed a new strategy...

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 Activates Plan to Double Foreign Remittance The Central Bank of Nigeria (CBN) has activated plans to double foreign-currency remittance flows through formal channels by granting 14 new International Money Transfer Operators (IMTOs) Approval-in-Principle (AIP). Mrs. Hakama Sidi Ali, the Director of Corporate Communications disclosed this...

CBN Wants Stronger Monitoring and Evaluation to Boost Project Efficiency in West Africa The Central Bank of Nigeria (CBN) has called for a renewed focus on monitoring and evaluation (M&E) in project management across West Africa, highlighting its importance during a time of limited resources. The...