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CBN Raises MPR To 18.5%, Highest In 22 Years

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) concluded its meeting in Abuja on Wednesday by increasing the benchmark interest rate (MPR) for the third time this year by 50 basis points to 18.5%. The latest 18.5% MPR is the highest approved by the committee in the past 22 years in […]

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CBN Retains MPR At 11.5% As Global Economic Uncertainties Heighten

The Central Bank of Nigeria (CBN) on Monday retained the Monetary Policy Rate (MPR) at 11.5 percent, and also left other lending parameters unchanged as global economic uncertainties, including the Russia-Ukraine triggered disruptions, continue to mount with attendant negative implications for national economies. The decision of the committee was taken at the end its g […]

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CBN Retains MPR At 11.5% To Sustain Economic Recovery – Emefiele

At the end of its two-day meeting in Abuja on Tuesday, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) retained the Monetary Policy Rate at 11.5 percent and also left other monetary policy parameters unchanged as part of its efforts to sustain the nation’s economic recovery in the months ahead. Briefing […]

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CBN Suspends Forex Sales To BDCs, Retains Key Monetary Policy Rates

The Central Bank of Nigeria (CBN) has suspended the sale of foreign exchange (Forex) to Bureaux De Change (BDC) operators in the country with immediate effect. The CBN Governor, Godwin Emefiele, made this disclosure on Tuesday while briefing the media on the decisions taken at the end of the apex bank’s Monetary Policy Committee two-day […]

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CBN Retains MPR, Other Rates To Sustain Economy’s Growth Trajectory

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday retained the Monetary Policy Rate (MPR) at 13.5 percent, leaving other monetary rate parameters, including  the asymmetric corridor at +200/-500 basis points around the MPR; the Cash Reserve Ratio (CRR) at 22.5 per cent, and Liquidity Ratio at 30 percent. The […]

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CBN Appeals To Nigerians On Proposed VAT Rate Hike

Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on Friday appealed to Nigerians to show understanding on the proposal by the government to increase Value Added Tax (VAT) rate from 5% to 7.5% in view of the fiscal necessity to boost the nation’s non-oil revenue earnings to finance critical programmes of the […]

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Why We Introduced New Monetary Policy Measures – Emefiele

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on Friday made elaborate clarifications on why the apex bank came up with sundry monetary policy measures in recent weeks, saying that the steps are intended to sustain transparency in  financial system transactions, deepen financial inclusion and give the cashless policy a new […]

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CBN Retains 13.5% MPR, Promises To Intensify Financial Inclusion Drive

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) rose from its two-day meeting in Abuja on Friday with a decision to retain all the key benchmark interest rates. Specifically, the committee retained the Monetary Policy Rate (MPR) at 13.5 percent and other lending rate indices, including the asymmetric corridor around the […]

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CBN Attributes Nigeria’s Recession Concerns To Low Output, Joblessness

The Central Bank of Nigeria on Tuesday warned that weak economic fundamentals, particularly low industrial output and rising unemployment rate, could reverse the growth trajectory of the nation’s economy and if not properly managed, plunged it into another recessionary era. The apex bank governor, Godwin Emefiele, who gave the warning after the two-day meeting of […]

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Our Findings, Intervention In Defunct Skye Bank – Emefiele

The Central Bank of Nigeria (CBN) yesterday gave additional insights of the various regulatory steps it took to appraise the state of the defunct Skye Bank Plc, before finally changing its name to Polaris Bank, a few days ago. The apex bank governor, Godwin Emefiele, who briefed journalists at the end of the Monetary Policy […]