CBN tweaks 32-month-old policy rate, opts for growth
The Central Bank of Nigeria (CBN) yesterday took local and international investors by surprise, cutting the 32-month-old Monetary Policy Rate (MPR) by 0.5 per cent to 13.5 per cent...
‘Why transparency, policy choices matter to Nigeria’
With Nigeria facing three-fold uncertainties that may arise from oil price, Britain’s exit of European Union (Brexit) and the United States-China trade war...
Increase in fuel, food prices weakens inflation recovery pace
Although the consumer price index, (CPI), which measures inflation decreased by 11.26 per cent (year-on-year) in October, 0.02 per cent points lower than the rate recorded in September...
How economy lost single digit inflation target
The 18-month consecutive fall in inflation rate, had in the last two months, lost momentum in making more significant decline, as food prices...
CBN holds monetary rates steady for two years
Foe the 12th consecutive time in two years, the Central Bank of Nigeria (CBN) has retained all the monetary policy rates for the country.
Expert urges CBN to abolish multiple exchange rates
A financial expert and research analyst with ForexTime (FXTM), Lukman Otunuga, has urged the Central Bank of Nigeria (CBN) to do all it could to abolish the multiple exchange rate, saying it is currently coming closer to cutting interest rate with the positive development in the economy.
Stabilising fragile economy through desperate fiscal adjustments
Since February this year, the country’s economy, although still held hostage by low economic activities- recession, has been clawing back some gains owing to aggressive policy reversals. First is the easing inflation, which persistently lost strength up to April, while the May data is around the corner.
Otunuga: Fanatical dependence on oil Nigeria’s undoing
I find it quite remarkable and highly encouraging how, despite several months of recessionary woes, Nigeria remains resilient, and on a mission to stabilise in the longer term. Although 2017 has dished out various difficulties ranging from soft domestic data..
CBN boosts financial market, sells $230 million to 16 banks
Sixteen banks shared in the $230 million foreign exchange (forex) mart by the Central Bank of Nigeria through the forward contract agreement.