The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has further increased the Monetary Policy Rate (MPR) by 50 basis points to 27.25 per cent from 26.75 per cent. EDITOR’S PICKS: School Proprietress Allegedly Killed, Burnt By Son In Delta Man Detained for Allegedly Killing Mother, Mutilating Son in Abia Fubara Regains … Read more
Around 100 former Central Bank of Nigeria (CBN) employees have filed a lawsuit against the apex bank at the National Industrial Court, seeking compensation for damages. The employees were among the 200 staff members dismissed in May under the Yemi Cardoso administration as part of a reorganization effort. EDITOR’S PICKS #Endbadgovernance: Organizers Plan Another Protests … Read more
Interest Rate Jumps to 26.75% as Monetary Authority Tightens Policy The Monetary Policy Committee (MPC) of the Central Bank of Nigeria’s (CBN) has raised the baseline interest rate by 50 basis points to 26.75% from 26.25%. This decision was made at the end of its 296th meeting on July 22-23, 2024, attended by eleven members. … Read more
It is self-evident that whatever the Governor of the Central Bank is doing (or not doing), the backing (and banking!!) of the President is critical. On that score, President Bola Ahmed Tinubu did not pull any punches when he spoke at the Hague, Netherlands during the business session of the bilateral meeting with the Dutch … Read more
By Bashorun J.K. Randle It would be something between hyperbole and premature jubilation to describe the minimum capital requirements for banks announced by Mr. Yemi Cardoso, Governor of the Central Bank of Nigeria (CBN) as a bombshell. On the contrary, the Governor of the CBN deliberately and meticulously stuck to his well choreographed strategy of … Read more
Eko Hot Blog reports that the recently appointed Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has expressed his commitment to addressing the apex bank’s outstanding foreign exchange obligations as a top priority in the immediate future. EDITOR’S PICKS Presidency Misleads Nigerians For Third Time In Less Than Two Weeks VIDEO: Nigeria Committed … Read more
Eko Hot Blog reports that The President of the 10th Senate, Godswill Akpabio has accused the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, of attempting to sabotage the conduct of the last general election with the introduction of the naira redesign policy. EDITOR’S PICKS Ogun Records Cholera Outbreak, Warns Residents Mohbad’s … Read more
Eko Hot Blog reports that Dr. Olayemi Michael Cardoso, the newly nominated Governor of the Central Bank of Nigeria (CBN), is a financial and development expert with over 30 years of experience in the private, public, and not-for-profit sectors. Editor’s Picks International Rescue Committee Calls For Urgent Global Aid For Libya Derna Deputy Mayor: Infrastructure Not … Read more
Lagos State Governor, Babajide Sanwo-Olu, on Wednesday signed an executive Order to set up an eight-man Lagos Rebuild Trust Fund Committee for the building of the state as a result of the massive destruction done by hoodlums during the #EndSARS protests. Sanwo-Olu, while briefing the press on “Rebuilding Lagos,” at the State House, Alausa, Ikeja, … Read more