CBN increases interest rate to 24.75% amid inflation

cbn 1

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

BREAKING: CBN uncovers $2.4b invalid FX claims – Cardoso

Adeyemi Cardoso

Central Bank of Nigeria (CBN) Governor Yemi Cardoso stated that the apex bank uncovered $2.4 billion in invalid foreign outstanding claims, which are squeezing the naira and causing anxiety in the currency market. Cardoso confirmed this in an interview with Arise Television on Monday. According to Cardoso, this was discovered during an audit by the … Read more