Monetary Policy Committee

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday, raised the Monetary Policy Rate (MPR) to 26.75 per cent from 26.25 per cent. The committee after a two-day meeting in Abuja also voted to adjust the…

The rise in the average prime lending rate in one year has raised concerns, with fear customers may shun borrowing from financial institutions. Banks' average prime lending rate rose to 15.85 per cent in June 2024 from the 13.85 per cent…

Manufacturers in the country have said the latest decision of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will increase the cost of borrowing and further compound the already high cost of doing business, making…

Analysts have anticipated further tightening of the Monetary Policy Rate (MPR) or interest rate hike by the members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its meeting which will be held Monday to…

Nigeria’s central bank plans to replace the external members of its monetary policy committee, who say they’ve been sidelined ahead of a meeting next month, amid an ongoing shakeup of the institution. Four of the five external members of…

The Central Bank of Nigeria (CBN) has said the risk of yet another global recession would be extremely damaging for fragile economies that are still bogged down in the lag impact of the 2020 recession. He fingered especially emerging…

The tough economic situation may have put the Central Bank of Nigeria (CBN) in a delicate position as its Monetary Policy Committee (MPC) continues its meeting today to decide a better approach to handling nation's economy. The meeting…

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has explained why he wanted the Monetary Policy Rate, otherwise known as interest rate, to be increased to14.5 per cent. Emefiele expressed this inclination at the July…

The Central Bank of Nigeria (CBN) has denied knowledge of the sack of its Governor, Godwin Emefiele. The Nation quoted the apex bank’s spokesman Osita Nwanisobi said he read report of his purported sack in some media like everyone else.…

After two and a half years of holding the interest rate, the Monetary Policy Committee) (MPC) of the Central Bank of Nigeria, Tuesday raise the benchmark by150 basis points to 13 per cent. Interest rate is the proportion of a loan that…