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CBN
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the benchmark interest rate (MPR) by 25 basis points to 18.75% from its initial 18.5%, representing the highest interest rate in 22 years.
The suspended governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been granted bail by a Federal High Court in Lagos in the amount of N20 million.
The suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, was arraigned on Tuesday morning at the Federal High Court sitting in Ikoyi, Lagos on 2 counts of illegal possession of firearm and ammunition.
In line with our projections of a slower pace of rate hikes in H1 2023, the MPC raised the MPR rate by a cumulative 200bps in H1 2023.
Amidst economic uncertainty, all eyes are set on the acting Central Bank of Nigeria (CBN) Governor, Fola Shonubi, as the Monetary Policy Committee (MPC) convenes for their crucial bi-monthly meeting on Monday and Tuesday, July 24th and 25th, respectively.
Based on figures obtained from the Central Bank of Nigeria’s (CBN) data on the movement of external reserves, the country’s external reserves fell by US$2.96bn in H1 2023.
Financial experts have warned that any attempt by the Central Bank of Nigeria (CBN) to further raise the Monetary Policy Rate (MPR) to fight inflation will worsen the current state of the economy.
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) over “the failure to delete the patently unlawful provisions in the Central Bank of Nigeria (Customer Due Diligence) Regulations directing banks to obtain information on customers’ social media handles for the purpose of identification.”
Anegbe stated this at the Nairametrics Webinar tagged ‘Embracing Opportunities for a Prosperous Power Sector.’
As of last Friday, Nigeria's official exchange rate is facing a significant divergence from parallel market rates, inching close to N100/$.
The exchange rate between the naira and dollar plunged to N888/$1 on Binance a crypto platform.
RightCard Payment Services Limited, a Lemonade Technology Inc. subsidiary, is proud to announce that it has obtained an International Money Transfer Operator (IMTO) license from the Central Bank of Nigeria (CBN).