Tag: Lending Rate
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CBN raises baseline lending rate to 18.5%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) to 18.5 per cent from 18 per cent. The CBN Governor, Mr Godwin Emefiele, made this known on Wednesday
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CBN reduces benchmark lending rate to 11.5%
The Central Bank of Nigeria on Tuesday reduced the Monetary Policy Rate from 12.5 per cent to 11.5 per cent after the two-day Monetary Policy Committee Meeting in Abuja. The committee also voted to retain the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively. The Central Bank Governor,…
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JUST IN: CBN slashes lending rate
Nigeria’s central bank (CBN) has slashed the Monetary Policy Rate (MPR) from 14 per cent to 13.50 per cent. The decision was reached at the Monetary Policy Committee (MPC) meeting of the CBN on Tuesday. The MPR is the rate the CBN lends to commercial banks. It had remained unchanged at 14 per cent for…
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BREAKING: MPC retains Nigeria’s lending rate at 14 per cent
The Monetary Policy Committee of the Central Bank of Nigeria on Wednesday left the Monetary Policy Rate unchanged at 14 per cent. The CBN Governor, Mr Godwin Emefiele, announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja. He explained that nine members of…
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Reduce lending rate to farmers, Ogbeh begs CBN
The Minister for Agriculture, Chief Audu Ogbeh has appealed the management of the Central Bank of Nigeria (CBN) to reduce lending rate to agriculture as obtainable in other parts of the world where agriculture is thriving. Ogbeh made the appeal at the 2017 Annual Bankers’ Committee Retreat concluded in Lagos at the weekend. Ogbeh disclosed…
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Naira exchanges for N364/1$ as MPC retains lending rate
The Naira on Tuesday exchanged at N364 to the dollar at the parallel market as the Monetary Policy Committee (MPC) meeting of the CBN holds benchmark interest rate at 14 per cent. TheNewsGuru.com reports that the MPC left the benchmark interest rate unchanged at 14 per cent, alongside other monetary policy parameters. The CBN Governor,…
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Again, MPC retains lending rate at 14%, affirms economy will improve after recession exit
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday retained the benchmark lending rate and other monetary policy rates against a backdrop of macroeconomic stability. The CBN Governor, Mr Godwin Emefiele, said this on Tuesday in Abuja while addressing newsmen on the outcome of the MPC meeting. Emefiele said that…
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Why we retained lending rate at 14% bench mark – CBN
The Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, on Tuesday said the benchmark lending rate for banks in the country was retained for the seventh consecutive time at 14 per cent to maintain the modest stability in the foreign exchange market. The CBN governor told journalists at the end of the 114th…
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JUST IN: Again, MPC retains lending rate at 14 per cent
The Monetary Policy Committee, MPC, has for the sixth consecutive time retained the Monetary Policy Rate at 14 per cent due to current uncertain economic conditions and high inflation. TheNewsGuru.com reports that the MPC has not made any major monetary policy change since July 2016. The Central Bank Governor, Godwin Emefiele, announced this while briefing…
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Reduce lending rate from 14 per cent, MAN urges CBN
The Manufacturers Association of Nigeria (MAN) has called on the Central Bank of Nigeria (CBN) to drop the lending rate from 14 per cent to accelerate productivity and economic growth. The President of MAN, Mr Frank Jacobs, made the appeal in an interview with newsmen on Sunday in Lagos. TheNewsGuru.com reports that CBN had maintained…