Categories: News

BREAKING: CBN raises interest rate by 50 basis points to 26.75%

The Central Bank of Nigeria (CBN) monetary policy committee has raised interest rate by 50 basis points from 26.25% to 26.75%.  

 

Advertisement

 

The Governor of the CBN, Mr. Olayemi Cardoso announced this at the end of the apex bank’s 296th MPC meeting held in Abuja.  

Advertisement

The MPC also pegged the Cash Reserve Ratio (CRR) for Deposit Money Banks at 45% while that of merchant banks was put at 14%.  

 

Advertisement

The liquidity ratio was pegged at 30% 

 

Advertisement

This is a developing story… 

Advertisement
citynews

Recent Posts

Tinubu promotes Acting Chief of Army Staff, Oluyede to Lt Gen

President Bola Tinubu has promoted the acting Chief of Army Staff, Olufemi Oluyede to the…

3 hours ago

Digital Transformation: Maida, Kekere-Ekun Speak At NCC’s Annual Workshop for Judges in Lagos

Welcome Address Delivered at the 2024 Edition of the Judges Workshop at Sheraton Hotel Ikeja,…

9 hours ago

Breaking: House Of Reps Finance Committee Visits FIRS

The House of Representatives Finance Committee has paid a working visit to the headquarters of…

11 hours ago

BREAKING: Tinubu govt drops treason charges against EndBadGovernance protesters

  The Federal High Court in Abuja has dismissed the treason charges brought against the…

14 hours ago

#USRoadToWhiteHouse2024: Trump-Harris polls remain tied in battleground states…

What to know about the end of the #USElection2024 campaign The most recent polling analysis…

14 hours ago

#USElection2024 Live Updates: Trump Vs Harris…Latest Results…Latest Polls

#US election 2024 Live Updates:  What you need to know about USelection2024 latest polls •…

15 hours ago