The naira experienced a significant decline against the dollar in the foreign exchange market following the Central Bank of Nigeria’s (CBN) fifth interest rate hike, raising the rate to 27.25%. According to FMDQ data, the naira traded at N1,658.48 per dollar on Tuesday, down from N1,562.66 on Monday, marking a depreciation of N95.82. Similarly, in … Read more
Eko Hot Blog reports that the Nigeria’s official currency, the Naira, on Monday, appreciated to N1,250 per dollar at the parallel section of the foreign exchange (FX) market. The FX rate is a 0.43 percent increase from the N1,280 recorded on March 29. Editor’s Picks JUST IN: Army Reacts As Explosion Rocks Ikeja Cantonment Police Confirm Delta … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate, which benchmarks interest rates, from 22.75 percent to 24.75 percent. The CBN Governor, Olayemi Cardoso, disclosed this on Tuesday at the 294th meeting of the Monetary Policy Committee (MPC) press briefing in Abuja. Editor’s Picks Fake News Alert: … Read more
Governor Obaseki criticizes CBN’s decision to raise Monetary Policy Rate to 22.75% He advocates for boosting local production to meet demand for goods and services Obaseki says economic and monetary policies must work together for growth Eko Hot Blog reports that Governor Obaseki criticizes the CBN’s decision to raise the monetary policy rate to 22.75%. … Read more
The Monetary Policy Committee (MPC) has left the benchmark Monetary Policy Rate (MPR) and other monetary policy tools unchanged to spur economic growth in the fourth quarter of the year. According to reports, the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele who disclosed this decision on Tuesday during a press conference at … Read more