Home Business Money BREAKING: CBN Increases Interest Rate To 26.25%
Money

BREAKING: CBN Increases Interest Rate To 26.25%

Share
Share

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has increased the country’s lending rate by 150 basis points to 26.25 per cent from 24.75 percent.

Speaking at a news conference, the governor of the CBN Olayemi Cardoso, announced the rate adjustment on Tuesday during the committee’s meeting in Abuja.

He went further to announced that the committee retained the asymmetric corridor of +100/-300 basis points and retained the Cash Reserve Ratio (CRR) of Deposit Money Banks at 45 percent, and the Liquidity Ratio at 30 per cent.

Share

Businesstoday Magazine

Businesstoday Conference/Awards

Related Articles

NDIC Begins Payment To Heritage Bank Depositors

The Nigeria Deposit Insurance Corporation, NDIC, has commenced payment of N46.6 billion...

World Bank Appoints Aliko Dangote to Elite Group

The President and Chief Executive of the Dangote Group, Aliko Dangote, has...

Stanbic IBTC Bank Supports GTR West Africa 2025 To Strengthen Regional Commerce

Stanbic IBTC Bank, a leading financial institution committed to driving economic growth...

IMF Cuts Nigeria’s GDP Growth Projection To 3.0% In 2025

NKECHI NAECHE- ESEZOBOR ( WASHINGTON DC)—The International Monetary Fund, IMF, on Tuesday...