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Nigeria's central bank surprises with fifth rate hike this year
Nigeria's central bank unexpectedly raised its benchmark lending rate by 50 basis points to 27.25% on Tuesday in a unanimous decision to tame persistent inflationary pressures, bank governor Olayemi Cardoso said.
Nigeria's Central Bank Surprises with Rate Hike Amid Inflation Combat
Nigeria's central bank unexpectedly raised its benchmark lending rate by 50 basis points to 27.25% in an effort to control persistent inflation. This marks the fifth rate hike this year. Despite a recent dip in inflation,
BREAKING: In fifth consecutive hike, CBN raises Nigeria’s interest rate to 27.25%
The Central Bank of Nigeria, CBN, Monetary Policy Committee, MPC, has raised the interest rate by 50 basis points to 27.25 percent, the fifth hike since February 2024. CBN Governor Olayemi Cardoso disclosed this during a press briefing at the end of 297th MPC in Abuja on Tuesday.
Nigeria's central bank surprises with a rate hike to 27.25%
Nigeria's central bank surprised the market by raising its benchmark lending rate to 27.25% from 26.75% on Tuesday, with governor Olayemi Cardoso adding that the decision of the monetary policy committee (MPC) was unanimous.
Why we raised interest rate to 27.5% -CBN
14h
Nigeria Set to Pause Two-Year Tightening Cycle as Inflation Cools
Nigeria’s monetary policymakers are expected to cautiously loosen their grip on a more than two-year tightening cycle on ...
Nairametrics
1h
Nigeria’s external reserves hit $39.07 billion – Cardoso
Nigeria’s external reserves have increased yet again, reaching $39.07 billion as of September 19, 2024. This is according to ...
1d
on MSN
Nigeria's ruling party wins first test since Tinubu elected
Nigeria's ruling party, the All Progressive Congress (APC), has won its first big electoral test since Bola Tinubu became ...
Premium Times
1h
Remi Tinubu seeks assistance to rejig Nigeria’s school meal programme
She acknowledged the potential of the school feeding programme to drive up enrollment in schools as well as promote nutrition ...
1d
Dangote Says Time for Nigeria to End Fuel Subsidy, Boost Naira
Nigerian billionaire Aliko Dangote said the “time is right” for the West African nation to end a decades-long subsidy on fuel ...
The Africa Report
6h
Nigeria: Judge recuses herself from trial of Biafra separatist leader Nnamdi Kanu
Justice Binta Nyako said she will step down from Nnamdi Kanu’s case and return the file to the chief judge “for further ...
Yahoo
1d
Nigeria's flood survivors say they're being told to go home
STORY: At a displacement camp in
Nigeria
's Maiduguri, flood survivors are being given bags of rice and cartons of pasta.
IJNet
21h
WhatsApp's threat to exit Nigeria and its consequences for journalists
After Nigeria’s consumer protection agency, the Federal Competition and Consumer Protection Commission (FCCPC), issued a $220 ...
1d
Nigeria Ruling Party Wins Key Swing State Election
Nigeria's ruling party has won an election for governor in southern Edo state, the electoral commission said, in what President Bola Tinubu's office said showed support for his economic reforms.
Daily Post Nigeria
2h
Biafra: Ekpa group demands removal of Nigeria’s Representative at AU Commission
The lawyer of the Simon Ekpa-led Biafra Republic Government In-Exile, BRGIE, Jonathan Levy, has demanded the removal of the ...
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