•CBN Governor, Olayemi Cardoso The Monetary Policy Committee of the Central Bank of Nigeria has increased the benchmark lending rate to 27.65 per cent. The hike in the Monetary Policy Rate was disclosed by the Governor of the CBN, Olayemi Cardoso, at the end of the 296th MPC meeting in Abuja today, reports The PUNCH. […]
•Medical doctors The Nigerian Medical Association (NMA) has highlighted a recent report showing that doctors and nurses in the public sector have the lowest bribery rate compared to other public sectors. NMA President, Prof. Bala Audu, discussed the findings during a news briefing in Abuja. The report, titled “Corruption in Nigeria: Patterns a...
Despite widely reported Naira’s rebound, Nigeria’s inflation rate jumped to 33.20% in March 2024 compared to February 2024 headline inflation rate which was 31.70%. This was according to the National Bureau of Statistics (NBS)’s Consumer Price Index (CPI) report released today. “Looking at the movement, the March 2024 headline inflation rate s...
Residents and business owners in Port Harcourt have expressed concern over recent electricity price hikes, urging for a reversal or fairer distribution of power. The increase, amounting to a substantial 240 percent, primarily affects users classified as “Band A” customers, reports Channels TV. Despite Minister of Power Adebayo Adelabu’s defenc...
The World Bank, yesterday, said that Nigeria’s inflation rate will remain high at 24.8 percent year-on-year, YoY, in 2024. The World Bank’s projection, however, is lower than February 2024 inflation, which stood at 31.7 percent. The World Bank also reaffirmed its projection of 3.3 percent economic growth for the country in 2024 and reduced its...
•CBN Governor Yemi Cardoso The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent. This is according to today’s communique by the CBN governor Yemi Cardoso after the second MPC meeting of his tenure in Abuja. The new interest rate […]
The Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the benchmark interest rate by 400 basis points to a record 22.75 per cent. The MPR was at 18.75 per cent. The MPC also made a bold move to restrict money supply by increasing the Cash Reserve Ratio to 45 per […]
•CBN Governor Yemi Cardoso The Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) has raised the Monetary Policy Rate(MPR) by four hundred basis points to 22.75 percent from 18.75 percent. Governor of the CBN Yemi Cardoso announced this after the first MPC meeting for the year in Abuja today, reports Channels TV. “All 12 […...
•Tinubu Oil marketers under the aegis of the Natural Oil and Gas Suppliers Association of Nigeria, NOGASA, have pleaded with President Bola Tinubu to peg the exchange rate of the Naira to the Dollar at the 2024 Budget benchmark of N750/dollar. NOGASA President, Mr. Benneth Korie told journalists in Abuja constant devaluation of the Naira [&hel...
As the National Bureau of Statistics (NBS) is set to release the January 2024 inflation report, this week, analysts at Financial Derivatives Company (FDC) have projected that inflation rate for January 2024 May hit the 30 percent mark. They also projected that the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will [&h...
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