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JUST IN: CBN Raises Interest Rate To 27.65%, Blame Inflation On Middleman

The Central Bank of Nigeria has increased the Monetary Policy Rate by 50 basis points to 27.65 per cent in another move to contain...

Business

IMF Downgrades Nigeria’s Economic Growth Projection To 3.1%

The International Monetary Fund has downgraded Nigeria’s Gross Domestic Product (GDP) growth for 2024 to 3.1 per cent as businesses shut down factories over...

Business

CBN Intervenes In Forex Market With $122.671m To 46 Dealers

The Central Bank of Nigeria (CBN) said it has sold the sum of $122.67m to 46 authorised dealers after the naira fell to N1,560...

Business

SEC Issues Framework To Guide Banks In Raising Funds For CBN Recapitalisation Programme

In a bid to support the Central Bank of Nigeria’s recapitalisation programme towards achieving the targeted objectives, the Securities and Exchange Commission has released...

Business

AKK Gas Pipeline Project Will Be Ready By First Quarter Of Next Year, Kyari Assures

The Federal Government has highlighted the huge multiplier impact of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project on the nation’s economic growth and industrialisation.This was...

Business

We Are Not Putting Excessive Pressure On Banks To Raise New Capital- Cardoso

The Central Bank of Nigeria has said that it is not putting banks under pressure to meet the new capital requirement imposed on them.Cardoso...

News

FG Confirms Suspension Of Cybersecurity Levy

The Federal Government on Tuesday confirmed the suspension of the implementation of the cybersecurity levy, the imposition of which was recently announced.Minister of Information...

Business

‘Nigeria’s Economy Facing Stagflation, Banks Under Pressure’- Uwaleke Faults MPR Hike

Nigeria’s first Professor of Capital Market Studies, Uche Uwaleke has warned the Central Bank of Nigeria to be careful with its hawkish monetary policy...

Business

Cardoso’s CBN Defends Donating N100bn Fertilizer Amid Criticism Of Returning To Emefiele Unorthodox Style

The Central Bank of Nigeria has defended a recent donation of N100bn worth of fertilizer which suggests that the Governor, Olayemi Cardoso is toeing...

Business

CBN Excludes Over 4,000 BDCs, Says Only 785 Operators Qualify For $20,000 Weekly Intervention

The Central Bank of Nigeria has instructed Bureau de Change sellers not to sell above one per cent of the above purchase rate from...

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