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Monetary Policy Committee

CBN MPC Retains Interest Rate At 14%

The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN), on Tuesday, retained the monetary policy rate at 14%. This is the Nigeria’s highest in 10 years and the 15th time that the committee retained the interest rate. Announcing the committee’s decision, governor of the Central Bank of Nigeria, CBN, Godwin Emefiele said all members of the committee were in support of retaining rates. The committee also retained the Cash Reserves Ratio at 22.5 per cent, Liquidity Ratio at 30 per cent; and the…

Forex: CBN Boosts Retail SMIS With $263m, CNY 39m

The Central Bank of Nigeria (CBN) has lifted the Retail Secondary Market Intervention Sales (SMIS) segment of the country’s foreign exchange market with the sum of $263 million on Friday. The latest CBN Forex intervention followed its earlier provision of the sum CNY 39 million consummated through a combination of spot and short-tenored forwards, arising from bids received from authorized dealers. This was revealed in a statement on Friday by the apex bank’s Director of Corporate Communications, Mr Isaac…

MPC Retains Lending Rate At 14% For The 14th Consecutive Time

The Monetary Policy Committee (MPC) for the 14th consecutive time, retained the Monetary Policy Rate (MPR) at 14 per cent. The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele made this known at a news conference on Thursday, in Abuja on the outcome of the 264th MPC meeting. Emefiele said all 11 members were present at the meeting and they all voted to retain the MPR, which was last changed in July 2016. The Cash Reserves Ratio ( CRR) remained unchanged at 22.5 per cent, liquidity at 30 per cent and…

U.S Intelligence Firm Predicts Buhari’s Loss In 2019 Election

More damning reports from the international community have continued to trail President Muhammadu Buhari’s bid to return for a second term as Nigeria’s President in 2019. Following last Saturday’s governorship poll in Osun State which saw the opposition Peoples Democratic Party(PDP) having a slight edge over the ruling All Progressive Congress(APC), a United States firm, Teneo Intelligence, has predicted a possible loss of the Presidential election by the APC next year. In an analysis on Monday, the New York based firm…

CBN Unveils Guidelines To Increase Credit Flow To Agriculture, Manufacturing

As part of efforts to consolidate and sustain the nation’s economic recovery, the Central Bank of Nigeria (CBN) has rolled out guidelines to increase the flow of credit to the real sector of the economy. The CBN Acting Director of Corporate Communications, Mr Isaac Okoroafor in a statement on Thursday, said the apex Bank would through the deposit money banks (DMBs) direct affordable, long-term bank credit to the manufacturing, agriculture, as well as other sectors considered by the Bank as employment and growth…

CBN May Increase Interest Rate – Deputy Governor

The Central Bank of Nigeria may tighten and increase its main interest rate if the nation’s inflation rate fails to decline. Deputy Governor of the CBN, Joseph Nnanna, said the apex bank is “in the mood” for tightening with regards to the monetary policy rate. Speaking on the sidelines of a conference in Egypt on Monday, Mr Nnanna explained that, “every member of the Monetary Policy Committee is certain that the monetary policy rate should increase if inflationary pressures build up,” adding that “Our intention is to…

BREAKING: CBN Retains Interest Rate At 14%, Other Parameters

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has retained the Monetary Policy Rate at 14 per cent, alongside other parameters. The CBN Governor, Mr Godwin Emefiele, made this known while briefing journalists shortly after the two-day MPC meeting held on Tuesday at the apex bank’s headquarters in Abuja, the nation’s capital. Mr Emefiele also said the committee retained other monetary policy parameters such as the Cash Reserves Ratio at 22.5 per cent, Liquidity Ratio at 30 per cent and the…

New CBN DGs, MPC Members Assume Office

Mrs. Aisha Ahmad and Mr. Edward Lametek Adamu have formally assumed duty as Deputy Governors of the Central Bank of Nigeria (CBN), following the confirmation of their appointments last week by the Nigerian Senate. According to a statement signed by the bank’s acting Director, Corporate Communications, Mr Isaac Okoroafor on Wednesday in Abuja, Prof Adeola Adenikinju, Dr Robert Asogwa and Dr Aliyu Sanusi also commenced their tenure as Members of the Monetary Policy Committee (MPC). Okorafor said the CBN governor, Mr.…

BREAKING: CBN Retains Benchmark Lending Rates

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has retained the Monetary Policy Rate at 14 per cent, alongside other parameters. The CBN Governor, Mr Godwin Emefiele, made this known while briefing journalists shortly after the two-day MPC meeting held on Tuesday at the apex bank’s headquarters in Abuja, the nation’s capital. Mr Emefiele also said the committee retained other monetary policy parameters such as the Cash Reserves Ratio at 22.5 per cent, Liquidity Ratio at 30 per cent and the…

BREAKING: MPC Retains Benchmark Lending Rates

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has retained the Monetary Policy Rate at 14 per cent, alongside other parameters. The CBN Governor, Mr Godwin Emefiele, made this known while briefing journalists shortly after the two-day MPC meeting held on Tuesday at the apex bank’s headquarters in Abuja, the nation’s capital. Mr. Emefiele also said the committee retained other monetary policy parameters such as the Cash Reserves Ratio at 22.5 per cent, Liquidity Ratio at 30 per cent and the…
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