Breaking

EDITORIAL: The Igbo Mockery of Yoruba Terror Attacks – A Rebuttal BREAKING 🇳🇬🚨: Doctor and Wife Kidnapped in Kogi Attack – Gunmen stormed a community in Kogi State, abducting a medical doctor and his wife. 🇳🇬 🇬🇧🎓FUTA alumnus Dr Abdullahi Saka rises to professorial cadre at University of Westminster — recognition for his strong impact in construction informatics and sustainable digital construction research. JUST IN: Oyo ACCORD Issues Stern Warning to Guber Aspirant Oriyomi Hamzat Over Alleged Screening Violence Cristiano Ronaldo Ties Mayweather with $300 Million Haul as Top Athletes Earn $1.4 Billion OUTRAGE 🇳🇬🚨: FRSC Condemns Abuja Traffic Shooting by DSS Operative — Alleged gunshots fired during stop raise concern over conduct and safety. Amin Tijjani Muhammad, popularly known as “Mayor”, is a political figure eyeing the Maiduguri Metropolitan Council (MMC) seat in the Borno State House of Assembly under the Allied Democratic Congress (ADC). UPDATE 🇳🇬⚖️: Kano Rep Alhassan Ado Doguwa denies substance allegations over viral blue tongue clip, insisting it was “sweet blue candy” and blaming political enemies for the controversy.

NEWS

CBN Raises Interest Rate to 24.75%

March 26, 2024 • 1 min read

The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate, MPR, its benchmark interest rate to 24.75% representing 200 basis points increase from 22.75% in February.

CBN, however, retained the Cash Reserve Ratio, CRR of commercial banks to 45%, but adjusted upward, the CRR of merchant banks from 10% to 14%.

The Apex Bank also retained the liquidity ratio of banks at 30%.

Central Bank governor, Olayemi Cardoso, disclosed this at the end of the Monetary Policy Committee (MPC) meeting concluded today.

The CBN also changed the asymmetric corridor from +100/-700 to +100/-300 around the MPR.