Guaranty Trust Holding Company (GTCO), one of Nigeria’s most efficiently run bank, has just announced the largest ever pre-tax profits in Nigerian banking history. According to information contained in its first-quarter earnings, the bank posted a pre-tax profit of N509.3 billion, more than six times the profits it made in the same period in 2023. … Read more
The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has announced a significant increase in the benchmark interest rate in a move aimed at tackling rising inflation. The new Monetary Policy Rate (MPR) now stands at 24.75% up from the previous rate of 22.75%. Speaking to journalists after the MPC meeting, CBN Governor Yemi … Read more
Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), claims that he and his team are not to blame for the country’s current economic troubles. He made this statement on Tuesday in Abuja during the apex bank’s first Monetary Policy Committee (MPC) meeting since taking office in September 2023. The governor of the … Read more