The Central Bank of Nigeria (CBN) will today and tomorrow in Abuja hold its first Monetary Policy Committee( MPC) meeting for the year after over four months of inactivity over failure to form a quorum. The policy meet comes as experts are urging the apex bank to use the opportunity to slash the high interest […]
Read More Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday, gave an indication of delaying the bi-monthly Monetary Policy Committee (MPC) meeting till April after the National Assembly and President Muhammadu Buhari-led executive resolved the issue of nominations for its MPC. Emefiele said the meeting scheduled for March 19-20 would be delayed by about […]
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The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) yesterday, retained lending rate 14 per cent, even as it stressed the decision was intended to consolidate on and deepen the successes recorded by the economy in recent times. The nine-member committee had also voted for the retention of the Cash Reserves Ratio […]
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Nigeria’s Monetary Policy Committee (MPC) of Central Bank, CBN on Tuesday voted overwhelmingly to retain all the basic policy parameters. These include monetary policy rate (MPR) 14.0 percent; cash reserve ratio (CRR) at 22.5 per cent; banks’ liquidity ratio at 30.0 per cent; and also left the asymmetric corridor at +200 and -500 basis points […]
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The Nigeria’s Central Bank Governor, Mr. Godwin Emefiele, yesterday, gave reasons why the Monetary Policy Committee (MPC), retained all the key economic parameters for the sixth consecutive time after yesterday meeting in Abuja. The committee voted (6:1) to maintain the Monetary Policy Rate (MPR) at 14 per cent, Cash Reserve Ratio (CRR) at 22.5 per […]
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Scarcity of funds which pervaded the interbank money market towards end of last week will likely to deepens this week as the Debt Management Office (DMO) issues ₦135 billion worth of FGN bonds. Last week, the money market experienced acute scarcity of funds as the Central Bank of Nigeria (CBN) stepped up its liquidity mop […]
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Four commercial banks in the country are operating with too many non-performing loans on their books and with liquidity ratios below the minimum requirement, two members of the Central Bank of Nigeria’s Monetary Policy Committee have said in statements on the bank’s website. According to Punchng, the two MPC members, Dr. Doyin Salami and Prof. […]
Read More The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that the economy might relapse into protracted recession if bold monetary and fiscal policies were not activated immediately to sustain the programmes of the Federal Government. The committee stated that available forecasts of key macroeconomic indicators pointed to a fragile economic recovery […]
Read More Ahead of the decisions of the Monetary Policy Committee on Tuesday, the Central Bank of Nigeria on Monday boosted liquidity in various segments of the inter-bank foreign exchange market with a total of $195m. At Monday’s forex trading, the CBN offered the sum of $100m as wholesale interventions and allocated the sum of $50m to […]
Read More The Central Bank of Nigeria (CBN) yesterday kept its Monetary Policy Rate (MPR), its base interest rate, at 14 per cent. CBN Governor Godwin Emiefele, who spoke to reporters after the Monetary Policy Committee (MPC) meeting in Abuja, said the recession corridor would come to an end by the third quarter because of the positive […]
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The Central Bank of Nigeria (CBN) yesterday injected $186.5million into the invisible and the whole Wholesale Secondary Market Intervention Sales (SMIS) segments of the forex market. This is made up of $36.5 million in the invisibles, $50 million for Small and Medium Enterprises (SMEs) segments and $100 million in the wholesale segment. The CBN also […]
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The Nigerian equities market shed N39bn on Tuesday as the Monetary Policy Committee of the Central bank of Nigeria kept the main interest rate at 14 per cent. At the second MPC meeting for the year 2017, the committee voted to retain the Monetary Policy Rate at 14 per cent; Cash Reserve Ratio at 22.5 […]
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