Top Stories
CBN Increases Interest Rate To 18%
Central Bank of Nigeria’s Monetary Policy Committee has voted to increase the benchmark interest rate by 50 basis points to 18. percent.
This was disclosed by the CBN Governor, Godwin Emefiele, on Tuesday while reading the communiqué of the second MPC meeting.
He said the committee also pegged the liquidity ratio at thirty percent.
The tightening of the rate according to the apex bank governor is expected to curtail inflation currently put at twenty-one percent.
On naira redesign, Emefiele explained that the bank aligns itself with the Supreme Court’s judgement as currency in circulation (redesigned naira) is about one trillion naira.
He said that the bank will continue to pump more currency into the system but with caution.
- Politics14 hours ago
Breaking: Prominent Nigerian Politician Is Dead(Photo)
- News17 hours ago
Former ECOWAS Court VP berates EFCC chairman over press briefing on Yahaya Bello
- Politics21 hours ago
Sanwo-Olu Launches Eko Cares Intervention For 500,000 Lagosians
- Top Stories17 hours ago
Breaking: Parents ‘suspect foul play’ as boy, 4, dies in BrickHall School Abuja
- News21 hours ago
Top Nigerian Newspaper Headlines For Today, Thursday, 25th April, 2024
- Politics17 hours ago
Breaking: 118 Inmates Escape As Rainstorm Wreaks Havoc At Suleja Prison
- Top Stories11 hours ago
Runway Mishap: ART Kicks Against Dana Suspension, Cautions Festus Keyamo
- News21 hours ago
Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 25th April 2024