Tag: Interest Rate
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CBN retains benchmark interest rate at 13.5%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Friday announced the retention of its Monetary Policy Rate (MPR) at 13.5 percent. This announcement was made by Governor of the CBN, Mr Godwin Emefiele, while addressing newsmen in Abuja on outcome of the two-day meeting of the MPC, which started yesterday.…
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Why banks can’t lend at single digit interest rate – CBN
The Deputy Governor, Economic Policy, Central Bank of Nigeria (CBN), Dr Joseph Nnanna, on Thursday blamed the inability of Deposit Money Banks to lend at single digit interest rate on the attractiveness of treasury bills, an instrument used by the government to borrow from the money market. He said this at a roundtable event on…
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Why we did not reduce interest rate – CBN
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) rose from its second meeting for the year, expressing apprehension that the late passage and implementation of the 2018 budget, as well as election spending, could trigger inflationary trends and reverse the economic gains made so far, if pre-emptive measures are not adopted.…
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CBN to reduce interest rate before year-end – Report
Entrepreneurs might soon have reasons to smile as the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) is expected to cut the Monetary Policy Rate, also known as the benchmark interest rate, before the end of the year. FocusEconomics, in its latest report, FocusEconomics Consensus Forecast Sub-Saharan Africa, noted that the MPC…
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Peg real sector loan interest rate at 3% to encourage investors, Don tells CBN
A don, Dr Anthony Kifordu, has urged the Central Bank of Nigeria (CBN) to ensure that three per cent interest is charged for loans given to the real sector of the nation’s economy. Kifordu, who lectures at the Edo University Iyamho (EUI), told the News Agency of Nigeria (NAN) in a telephone interview on Tuesday…
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Senate to meet with CBN over high interest rate
Senate President Bukola Saraki has promised that the Senate will look into the high interest rate charged by banks in the country. “It is likely that we will debate it this week,” Saraki said during an interactive session with journalists on Sunday in Ilorin. According to him, the high interest rate is not good for…
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Prevail on commercial banks to reduce 30 percent interest rate, ECCIMA charges CBN
The Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has appealed to the Central Bank Nigeria (CBN) to intervene in the high interest rate charged by the commercial banks. The President of ECCIMA, Rev. Ugochukwu Chime, made the appeal on Saturday while speaking with newsmen at the 28th edition of 2017 Enugu International Trade…