Reviews

Ex-CBN director lauds MPC over interest rate reduction

Dollar PHOTO: AFP / Getty Images A financial expert, Dr Titus Okunrounmu, has commended the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) for reducing the interest rate by one-percentage-point from 13.5 per cent. Okunrounmu, a former Director, Budgetary Department at CBN, made the commendation in an interview with the News Agency […]

CBN predicts negative economic growth in Q2

The Central Bank of Nigeria (CBN) has predicted negative Gross Domestic Product (GDP) growth for the country in the second quarter (Q2) 2020 owing to the COVID-19 pandemic that had affected the economy. The CBN Governor, Mr. Godwin Emefiele, made the prediction while fielding questions from journalists after the Monetary Policy (MPC) meeting in Abuja […]

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Can a CBN branch house more capital than the 2020 Budget? – Dubawa

A blog post shared via Facebook put forward a news content in the ‘Gossip’ section of its page that the Finance Minister supposedly confessed to having lost 12.6 trillion Naira over the fire outbreak at the CBN office in Jos. The Finance Minister never made such a statement, and she has tagged the news as […]

CBN slashes interest rate to avert economic recession

– The CBN has significantly cut the key interest rate from 13.5% to 12.5%, the lowest in four years – The move by the apex bank is to save Nigeria from another economic recession due to the coronavirus pandemic – Reports, however, indicate that the move may further stoke inflation and increase pressure on the […]

Nigeria: Special Report – Forex: Dynamic Instability Amidst CBN’s Interventions

On March 20, the CBN devalued the naira to N380 per dollar in the I&E window, and to N360 per in the official rate. Accordingly the naira fell to N395 …

NFF CORRUPTION: Private account diverts more millions for football development to personal pockets

The series continues on how monies meant for the development of Nigeria football found their way to private pockets via the private account of a staffer of the Nigeria Football Federation (NFF) on the instructions of president Amaju Pinnick. RAJAN ZAKA used his private savings account number 4015701085 with Skye Bank for the purposes of laundering […]

SPECIAL REPORT: FOREX: Dynamic instability amidst CBN’s interventions

Godwin Emefiele, CBN Governor. By Babajide Komolafe NIGERIA’S foreign exchange market under the five years of the Muhammadu Buhari Presidency is characterised by two bouts of naira devaluation, each preceded by prolonged period of steady decline in external reserves, triggered by sharp fall in crude oil price, and exit of foreign portfolio investors from the […]

SPECIAL REPORT: FOREX: Dynamic instability amidst CBN’s

Godwin Emefiele, CBN Governor. By Babajide Komolafe NIGERIA’S foreign exchange market under the five years of the Muhammadu Buhari Presidency is characterised by two bouts of naira devaluation, each preceded by prolonged period of steady decline in external reserves, triggered by sharp fall in crude oil price, and exit of foreign portfolio investors from the […]

Inflationary trend erratic over external, internal shocks

Nigeria Economy By Nkiruka Nnorom INFLATION has been erratic in the last five years driven by some external and internal factors, including the precipitous fall in crude oil prices in 2016 that saw the country slip into recession coupled with major fiscal moves by the government like the shut-down in land borders in 2019. Vanguard […]

CBN Reduces Lending Rate To 12.5%

The CBN Governor, Mr. Godwin Emefiele, announced the decision of the Committee in Abuja, at the end of its virtual 273rd meeting. Godwin Emefiele The Monetary Policy Committee of the Central Bank of Nigeria on Thursday reduced the Monetary Policy Rate to 12.5 per cent, The PUNCH reports. The CBN Governor, Mr Godwin Emefiele, announced […]

In Nigeria, Naira Wealth Doesn't Always Mean You Can Get Dollars

While the government suggested to the IMF “that exchange-rate unification would be on the cards, the CBN's default position remains to delay further …

CBN cuts MPR to 12.5%, advises on how to avoid recession – The Sun Nigeria

Uche Usim, Abuja The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) rose from its 273rd meeting on Thursday with a decision to cut the Monetary Policy Rate (MPR) by 100 basis points from 13.5per cent to 12.5 per cent, while retaining all other policy parameters. The committee with 10 members in […]

CBN Reduces MPR To 12.5%

Posted by Shollay May 28, 2020 The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) from 13.50% to 12.50% for the second quarter of the year. Naija News understands that the meeting was initially scheduled to hold on Monday and Tuesday. However, The Governor of CBN, Godwin Emefiele who made this […]