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Central Bank of Nigeria - CBN

Central bank to limit banks’ appetite for govt securities

The Central Bank of Nigeria, CBN, yesterday, said it would soon announce measures to limit the excessive appetite of banks for government securities.

Minister: Nigeria anxiously waiting for result of trial vaccine in Malawi

The Federal Government says it is anxiously waiting for the result of pilot RTSS/ASO1, the World’s first anti malaria vaccine, recently introduced in Malawi.

Misery Index: Nigeria not a miserable country

In a report titled: “The Misery Index 2018,” authored by Dr. Steve Hanke of the Johns Hopkins University in Baltimore, Maryland, Nigerians have been labelled the sixth most miserable people in the world. The misery index was introduced in the 1970s by Arthur Okun, an American economist, author of the seminal work, Equality and Efficiency: The Big Trade Off (1975).

Expert urges central bank to reduce CRR to make reduction of MPR meaningful

Mr Wale Adegbite, a former Chairman, Manufacturers Association of Nigeria, Ogun Chapter, has urged the CBN to also reduce the Cash Reserve Ratio (CRR) to make the reduction of the Monetary Policy Rate (MPR) meaningful

Analysts: Interest rate cut threatens foreign portfolio investments

Analysts have said the reduction of the Monetary Policy Rate, also known as benchmark interest rate, may dampen foreign investors in the nation’s stock market.

Analysts dismiss MPR cut as hasty, with zero impact on lending

Financial analysts have described the decision of the Central Bank of Nigeria, CBN, to reduce the Monetary Policy Rate, MPR, to 13.5 per cent as a hasty decision with zero impact on boosting lending to businesses.

Analyst: Why central bank may cut key interest rates again

Lukman Otunuga, research analyst at FXTM, says the Central Bank of Nigeria (CBN) would likely cut interest rates further if macro economic conditions in the country improve.

Central bank reduces monetary policy rate to 13.5 percent

Monetary Policy Committee of the Central Bank of Nigeria (CBN) has decided by a vote of six members to adjust the Monetary Policy Rate (MPR) by 50 basis point – from 14% to 13.5%.

Pat Utomi: Likely monetary policy rates retention in future reasonable

An economist, Prof. Pat Utomi, has said the likely retention of the Monetary Policy Rates for a while at 14 per cent was reasonable due to non-availability of pressure on the economy.
Nigeria's Budget Minister Udoma Udo Udoma speaks during the public presentation and breakdown of 2018 Appropriation Act in Abuja, Nigeria.

Minister: We are taking steps to grow the economy

The Minister of Budget and Planning, Senator Udo Udoma, has assured that the federal government is putting in place measures necessary to ensure that the economy grows rapidly, while maintaining fiscal sustainability.
Nigeria's Budget Minister Udoma Udo Udoma speaks during the public presentation and breakdown of 2018 Appropriation Act in Abuja, Nigeria.

Federal government allays budget fears over oil price drop

Minister of Budget and National Planning, Senator Udoma Udo Udoma, has allayed the fears of Nigerians over the softening of the international oil prices, saying that the government willclosely monitor the events with a view to achieving targeted oil production.

Group praises central bank policies under Godwin Emefiele

The Coalition of Civil Society Group (COCSG) has commended the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, for implementing policies that have helped stabilise the economy.

MPC retains lending rate at 14 percent

The CBN Governor, Mr. Godwin Emefiele, who read the communique at the end of the two-day MPC meeting, noted that the committee considered the drop in inflation which is seasonal and not sustainable, adding that the upside risk to inflation still remains

CBN: Banks raise credit allocation to corporates

The Central Bank of Nigeria’s (CBN) Credit Condition Survey for the third quarter (Q3) has revealed that the overall availability of credit to the corporate sector increased in the period under review.

Central bank monetary committee holds MPR at 14 percent

The Central Bank of Nigeria’s Monetary Policy Committee has voted to retain the Monetary Policy Rate (MPR) at 14%.

Naira stable as central bank holds rates Lira crumbles

It is interesting how the Naira has witnessed stability against the Dollar after the Nigerian Central Bank kept its monetary policy rate (MPR) unchanged at 14% in July.

MPC retains interest rate at 14 percent

Briefing journalists on Tuesday at the end of the committee’s two-day meeting, Godwin Emefiele, governor of the apex bank, said all members of the

CBN: Reduction in interest rate will create more fiscal challenges

The Director, Monetary Policy, Central Bank of Nigeria (CBN), Mr. Moses Tule, has stated that a reduction in the key interest rate — Monetary Policy Rate (MPR) — at this time would throw up a cocktail of fiscal challenges in the economy and create more inflationary pressure.

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