Tag Archives: Monetary Policy Committee (MPC).

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent. This is according to a Tuesday communique by the CBN governor Yemi Cardoso after the second MPC meeting of his tenure in Abuja. The new …

Unless the Monetary Policy Committee (MPC) makes a U-turn on its aggressive monetary tightening, the Federal Government may pay as much as N4.65 trillion servicing its debt held by the Central Bank of Nigeria (CBN) this year. As at the end of last year when President Muhammadu Buhari sought the …

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has said that he has successfully disrupted the activities of currency hoarders and speculators with the Naira redesign. The CBN governor, while speaking after the apex bank’s Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, said there …

The Central Bank of Nigeria (CBN) governor, Mr. Godwin Emefiele said the apex bank supported disbursed N134.57 billion to 38,140 beneficiaries under the Agribusiness/Small and Medium Enterprise Investment Scheme (AGSMEIS). Speaking after the Monetary Policy Committee (MPC) meeting in Abuja, he hinted that under the Targeted Credit Facility (TCF), a sum …

Data from Nigeria’s apex bank has shown that amid ease in the economy, commercial banks in Nigeria borrowed N9.97trillion from the Central Bank of Nigeria (CBN) between January and July 2021. The CBN financial data revealed that commercial and merchant banks, through the Standing Lending Facility (SLF), between January and …

As part of a governmental effort to finance the budget, the Central Bank of Nigeria (CBN) has disclosed that banks credit to government hits 60-year high to N12.5trillion in May 2021. The N12.5trillion government borrowing from banks as reported by CBN hits a new level bank commenced lending to government …

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) from 13.50% to 12.50%.   Governor, CBN, Godwin Emefiele, disclosed this while reading the communique at the end of the MPC meeting on Thursday in Abuja.  Meanwhile, other parameters such as …

Owing to the wide spread of Coronavirus and the eventual states shutdown, the Central Bank of Nigeria (CBN) lending to commercial banks dropped by 25 per cent in the first quarter of 2020,our correspondent has gathered. Commercial banks operating in the country used Standing Lending Faculty (SLF) to access funds …

The Central Bank of Nigeria (CBN), according to its latest payment statistics, disclosed that the Federal Government paid $1.09 billion to service external debt between January and September 2019. The Central Bank’s statistics revealed Nigeria paid highest in August with $199.8 million; lowest in June with $18.58 million, and paid an average of …

The former Minister of Education, Oby Ezekwesili has suggested that the President Muhammadu Buhari led Federal Government has decided to punish Nigerians with forex restriction on milk and diary products for rejecting his administration’s RUGA project. According to her, it is best if the President can make policies that will …