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
BREAKING: OYO LG ELECTION: MAKINDE CASTS VOTE IN IBADAN
Governor Seyi Makinde of Oyo State has cast his vote in today’s local government election. Makinde voted at Polling...
SECURITY: LAGOS GOVT ORDERS REMOVAL OF KIOSKS AT AGEGE
On the order of the Lagos State Commissioner of Police, CP Adegoke Fayoade, operatives of Rapid Response Squad...
(PHOTOS) UPDATED: FIVE CONFIRMED DEAD, 70 CARS BURNT IN RIVERS TANKER EXPLOSION
Five people have been confirmed dead and over 70 cars burnt in the tanker explosion at the Eleme section of...
TINUBU APPOINTS RENOWED BANKER, JIM OVIA AS CHAIRMAN OF NIGERIAN EDUCATION LOAN FUND
President Bola Tinubu has approved the appointment of Mr. Jim Ovia, CFR, renowned banker and businessman, as the Chairman of...
ROAD ACCIDENT CLAIMS THREE LIVES IN ONDO
At least three persons died in a road accident that occurred along the Akungba-Ikare Road in Akoko South-West Local Government...
GOV MBAH MOURNS AYOGU EZE, SAYS IT’S MONUMENTAL LOSS
Governor of Enugu State, Dr. Peter Mbah, has expressed deep grief over the death of member representing Enugu State on...