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Tag Archives: Monetary Policy Committee (MPC).

CBN Increases Interest Rate to 24.75%

CBN Increases Interest Rate to 24.75%

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 …

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Banks’ Credit to Government Rises to N12.5 Trillion in May

Banks' Credit to Government Rises to N12.5 Trillion in May

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 …

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CBN Reduces MPR by 1%

MPR

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 …

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