CBN raises interest rate to 24.75%

CBN raises interest rate to 24.75%

CBN raises interest rate to 24.75% As part of the measures to curb increasing inflation in the country, the Monetary Policy Committee of the Central Bank of Nigeria has increased MPR by 200bps to 24.75 from 22.75 per cent, increasing the asymmetric corridor to +100bps/-300 basic points. READ ALSO: CBN clears backlog of $7 billion…

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Investors oversubscribe CBN N1trn OMO bills

Investors oversubscribe CBN N1trn OMO bills

Investors oversubscribe CBN N1trn OMO bills Barbara Bako, Abuja The Central Bank of Nigeria (CBN), on Friday, March 1, 2024, successfully concluded a sale of government securities, issuing N1.053 Trillion (US$680 million) in short-term instruments as part of its liquidity management exercise. The CBN offered N500 Billion at the Open Market Operations (OMO) auction and…

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CBN raises interest rate to 22.75%

CBN raises interest rate to 22.75%

The Central Bank of Nigeria (CBN) on Tuesday raised the interest rate to 22.75 per cent amid soaring inflation. The apex bank made this known after the two-day Monetary Policy Committee (MPC) meeting held between Monday and Tuesday. According to the National Bureau of Statistics, the country’s annual inflation rate jumped to 29.90 per cent…

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