CBN retains Nigeria’s interest rate at 27.5% amid inflation drop
The Central Bank of Nigeria’s monetary policy committee has voted to hold the monetary policy rate at 27.25 per cent Addressing the press at the end of its 2-day meeting in Abuja yesterday, the CBN Governor, Yemi Cardoso, said the committee also retained the asymmetric corridor around the MPR at +500/-100 basis points, Cash Reserve […]
CBN Raises Monetary Policy Rate From 26.25% To 26.75%
The Central Bank of Nigeria (CBN) has again raised the Monetary Policy Rate by 50 basis points, from 26.25% to 26.75%. Announcing this after the apex bank’s 296th Monetary Policy Committee meeting in Abuja, CBN Governor, Olayemi Cardoso, said the committee also pegged the Cash Reserve Ratio for Deposit Money Banks at 45% while that […]
Emefiele- High Court turns down travel permit
An FCT High Court in Maitama has refused an application by the former CBN Governor, Godwin Emefiele, to be granted permission to travel to the United Kingdom for a medical check-up. At the resumed hearing today on the application for medical leave, the trial Judge, Justice Hamza Muazu, held that Emefiele, who is being prosecuted […]
CBN raises interest rate to 22.75% in a bid to curb inflation
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has increased the benchmark interest rate by 400 basis points to a record 22.75% from 18.75 percent. Addressing journalists at the end of the two-day first MPC meeting of the year in Abuja, CBN Governor, Olayemi Cardoso, disclosed that the committee voted to adjust […]
EFCC declares Godwin Emefiele’s wife wanted over alleged money laundering
The Economic and Financial Crimes Commission (EFCC) has declared Mrs Margaret Emefiele, wife of the former governor of the CBN, Mr Godwin Emefiele wanted for alleged money laundering. EFCC’s spokesman, Mr Dele Oyewale, stated in Abuja that three other persons: Mr Eric Odoh, Mrs Anita Omoile, and Mr Jonathan Omoile, had been declared wanted alongside […]