CBN raises interest rate by 150 basis points to 26.25%

The Central Bank of Nigeria Monetary Policy Committee has announced a 150 basis points increase in the benchmark interest rate, raising it from 24.75% to 26.25%. Governor Yemi Cardoso made this announcement during the press briefing following the 295th MPC meeting of the bank. Additionally, the bank has decided to maintain the Cash…

Additionally, the bank has decided to maintain the Cash Reserve Ratio of Deposit Money Banks at 45%. The Asymmetric corridor around the MPR has been set at +100 and -300 basis points.Before flagging, please keep in mind that Disqus does not moderate communities. Your username will be shown to the moderator, so you should only flag this comment for one of the reasons listed above.

Abducted residents of the Dawaki area in Abuja are still in the hands of their kidnappers, The Guardian has learned. A resident of the area who confided in The Guardian noted, “The kidnap victims have not been released. They are still being held. It happened in my area.” In a new wave of kidnappings in…

Liz Benson Ameye popularly known as Liz Benson, one of the most iconic Nollywood personalities of all time is making a big return to the screens. She will be starring in a movie by Bukola Ogunsola titled 'Something About the Briggs.' The esteemed veteran has reportedly taken on the role of a Marriage Counsellor in…

Source: News Formal (newsformal.com)

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