JUST IN: CBN RAISES INTEREST RATE TO 24.75%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent.
This is according to a Tuesday communique by the CBN governor Yemi Cardoso after the second MPC meeting of his tenure in Abuja.
The new interest rate is a jump from the 22.75 percent announced by the MPC about a month ago and the second rate hike by the current committee.
He said the move is part of efforts to combat the country’s rising inflationary rate which was pegged at 31.70 percent in February.
The next MPC meeting will be held between the 20th and 21st of May, 2024.
FG CONTACTS INTERPOL, SOLDIERS HELD OVER BINANCE DETAINEE’S ESCAPE
More Stories
JUST IN: POLICEMAN IN OKOYA’S SONS NAIRA-ABUSE VIDEO DETAINED
Police authorities have identified and arrested a mobile policeman seen in a viral video carrying several packets of naira...
TG/PS EDUCATION DISTRICT II, COMMENDS KAODWAD AND ASSOCIATES/IKORODU LGA
The Tutor General Permanent Secretary, Education District II, Mrs Anike Adekanye has extended her profound appreciation and Commendation to...
LEBANON ARMY CHIEF AOUN BECOMES PRESIDENT AFTER TWO-YEAR VOID
Lebanese lawmakers elected army chief Joseph Aoun as president on Thursday, ending a more than two-year vacancy in a step...
POLICE RECOVER OVER 1,000 DIVERTED UN WHEAT BAGS, ARREST SUSPECTS
The Nigeria Police Force, Eastern Ports Command, has recovered 1,238 bags of wheat and arrested five suspects involved in the...
28 BENINESE TROOPS KILLED NEAR NIGER, BURKINA BORDER
Twenty-eight soldiers were killed in an attack in northern Benin, a security source told AFP on Thursday, as violence blamed...
FOOD: TINUBU MANDATES NADF TO SPEARHEAD DEPLOYMENT OF 10,000 TRACTORS
In the quest to boost food production, President Bola Tinubu, Thursday, mandated the National Agricultural Development Fund, NADF, to spearhead...