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Nigeria, central bank
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 raises interest rate to 27.25% amid inflation concerns
Nigeria’s central bank surprised the market on Tuesday by raising its benchmark lending rate by 50 basis points to 27.25%. This is the fifth rate hike of the year and reflects the bank’s ongoing battle against inflationary pressures,
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.
INFORMATION NIGERIA
12m
Nigeria’s Unemployment Rate Increased To 5.3% In Q1 2024 – NBS
Nigerians continue to lament over economic hardship, the National Bureau of Statistics, said that the country's unemployment ...
18h
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
5h
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 ...
The Africa Report
10h
Nigeria: Defence minister under fire for alleged sponsoring of bandits in Zamfara
Governor Dauda Lawal says his predecessor and current defence minister is a bandits’ sponsor and is undermining efforts to ...
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 ...
Nairametrics
3h
Airtel Nigeria moves to cut N28 billion monthly spending on diesel
Telecommunications operator, Airtel Nigeria, said it is now deploying alternative solutions to power its base stations across ...
Vanguard
3h
Nigeria hosts 1.2m int’l visitors in 2023 – Tourism Minister
John, Minister of Tourism, on Tuesday, said that Nigeria played host to no fewer than 1.2 million international visitors in 2023.
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.
AllAfrica.com
5h
Nigeria: WFP - 3.1m Acutely Food Insecure People in Nigeria, Highest Number Globally
No fewer than 31. 8 million people in Nigeria are acutely food insecure, the highest number globally, the United Nations World Food Programme (WFP), has said.
5d
Nigeria warns of possible flooding as Cameroon releases water from dam
Nigeria has warned of possible flooding in 11 states following the release of water from a dam in neighboring Cameroon.
The Nigerian Voice
1h
It Isn't Realistic To Fully Secure Nigeria With Just 2 Million Security Agents— Chief Of Army Staff
Lieutenant General Taoreed Lagbaja, has lamented the extreme shortage of security personnel, inadequate funding and ...
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