CBN Slices MPR to 11.5% from 12.5%
The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) to 11.5 per cent from 12.5 per cent.
This decision…
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Why we slashed interest rate on savings deposit – CBN
On September 1, 2020, the Central Bank of Nigeria (CBN) in a circular signed by its Director of Banking Supervision, Mr Bello…
Three bank CEOs resign from NESG Board
Chief Executive Officers (CEOs) of three prominent banks have resigned their membership of the Nigerian Economic Summit Group…
CBN’s directive on power sector counterproductive – NUEE
The Nigeria Union of Electricity Employees (NUEE) says the Central Bank of Nigeria (CBN)’s directive authorising banks to…
CBN slashes Interest Rate on Savings Deposit to 1.25%
The minimum interest rate to be paid by deposit money banks (DMBs) in Nigeria to their customers for deposits has been reviewed…
9PSB set to commence operations after CBN approval
Following the approval by the Central Bank of Nigeria (CBN), Nigeria’s lifestyle and payment service bank, 9PSB (Payment Service…
Don’t give loans to customers – CBN Orders Payment Service Banks
Payment Service Banks (PSBs) operating in the country have been directed not to grant loans to their customers because they are…
Why BDC Operators Can’t Get Forex For Now – CBN
The Central Bank of Nigeria (CBN) has explained why it was yet to resume the sale of Dollars to operators in the Bureaux De Change…
CBN retains benchmark interest rate at 12.5%
The Central Bank of Nigeria on Monday retained the country’s benchmark interest rate or Monetary Policy Rate at 12.5 percent.
It…
NEXIM Bank denies mismanaging CBN’s N50bn Export Fund
The Nigerian Export-Import Bank (NEXIM) has refuted claims made by an organisation that it mismanaged a N50 billion fund released…