The Monetary Policy Committee of the Central Bank of Nigeria has increased the benchmark interest rate by 400 basis points to a record 22.75%.
This development is coming barely 24 hours after some financial analysts predicted an increase in the rate at the end of Tuesday’s meeting.
The analysts also projected the MPC to make major decisions on banks’ capital requirements and liquidity ratios.
A few days after the National Assembly screened and approved new members of the MPC, it started a two-day meeting on Monday.
The meeting is expected to be held from Monday till Tuesday.
Details later…
A middle-aged man who previously claimed in a viral video to be a son of…
The National Identity Management Commission (NIMC) announced on Friday that it has uncovered and is…
They might not agree on what direction the sport should go, but Rory McIlroy insists…
WASHINGTON — President Joe Biden significantly shifted his policy toward Israel this week by threatening to withhold U.S. weapons…
UK-based Nigerian Self-Styled Prophet Oluronbi Jailed 34 Years For Raping Female, Male Church Members At…
French superstar Kylian Mbappe has announced he will leave Paris Saint-Germain at the end of…