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CBN admits increase in interest rate to 27.75% painful for borrowers

The Central Bank of Nigeria (CBN) on Monday admitted that the increase in the interest rate to 27.25% was “painful” for borrowers.The apex bank...
Business

Why CBN introduced FX matching system – Cardoso

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said at the weekend the apex bank introduced the Electronic Foreign Exchange Matching...
Business

CBN Gives Deadline For Banks, Others To Migrate To Electronic Fx Matching System

The Central Bank of Nigeria (CBN) has introduced the Electronic Foreign Exchange Matching System (EFEMS) for conduct of Foreign Exchange transactions on the official...
Business

CBN introduces electronic FX matching system to curb speculation

The Central Bank of Nigeria (CBN) has announced the introduction of an electronic foreign exchange matching system (EFEMS) to curb forex speculation and instil...
Business

Tinubu says CBN’s disciplined approach to monetary policy responsible for stability of FX market

President Bola Tinubu has hailed what he said is the disciplined approach adopted by the Central Bank of Nigeria (CBN) to monetary policy management...
Business

High Lending Rate Cuts Banks’ Private Sector Credit By N780bn

The high interest rate of the Central Bank of Nigeria has cut banking sector credit to the private sector by N780bn between the months...
Business

CBN extends cash deposit fee suspension

The Central Bank of Nigeria (CBN) on Friday announced an extension of the suspension of cash deposit processing fees in a move aimed at...
Business

CBN boosts forex market with sale of $20k to BDCs

The Central Bank of Nigeria (CBN) has approved another sale of foreign exchange to eligible Bureau De Change (BDC) operators at N1,590 per dollar...
News

CBN increases interest rate to 27.25 per cent

The Monetary Policy Committee of the Central Bank of Nigeria has resolved to increase the benchmark interest rate, also referred to as the monetary...
Business

BREAKING: CBN Ignores Expert Warnings, Raises Interest Rate To 27.75

The Central Bank of Nigeria has surprisingly raised the monetary policy rate to 27.75 per cent despite warning from experts.The CBN governor, Olayemi Cardoso,...
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