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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).
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 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.
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.
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.
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%.
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.
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.
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.
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
The Central Bank of Nigeria’s Monetary Policy Committee has voted to retain the Monetary Policy Rate (MPR) at 14%.
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.
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.
The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday left the Monetary Policy Rate unchanged at 14 per cent.
The Central Bank of Nigeria (CBN) on Monday said its Monetary Policy Committee (MPC) opted to retain monetary policy rates to rein in inflation and stabilise the economy.
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The Joint Admissions and Matriculation Board says it has caught someone it described as a “notorious cheat” who had registered for the UTME 64 times, with the intention of writing the examination for 64 candidates.
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