✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live

CBN pushes interest rate to 17.5%

Members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria, CBN, have voted toincrease the interest rate from 16.5 per cent to 17.5 per cent.

The committee noted that the increase was aimed at fighting inflation aggressively.

MPC: Analysts expect CBN to increase interest rate

SPONSOR AD

Finance bill: ‘Its unlawful to share stamp duty, bank levy nationally’

The MPC also retained the Cash Reserve Ratio at 32.5 per cent, and the Liquidity Ratio at 30 per cent.

The CBN Governor, Godwin Emefiele, in his post MPC briefing noted that the marginal drop in inflation figures was not enough to celebrate.

He noted that the members were unanimous in their decision to tighten the interest rate.

 

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.

NEWS UPDATE: Nigerians have been finally approved to earn Dollars from home, acquire premium domains for as low as $1500, profit as much as $22,000 (₦37million+).


Click here to start.