CBN Raises Interest Rate To 24.75%
The Central Bank of Nigeria has raised the monetary policy rate, known as the interest rate, by 200 basis points per cent to 24.75 per cent from 22.75 per cent in efforts to tackle rising inflation.
Bread Prices To Rise By 20% In January 2024 – Nigerian bakers
Again, bread prices will increase by 15 per cent to 20 per cent in January 2024 across Nigeria amid economic hardship.
Inflation Moves Up For 11th Consecutive Time
For the eleventh consecutive time, inflation rate has remained very high as it rose to 28.20 per cent in November 2023 with food prices contributing largely to the rise.
New, Unverified X Accounts To Pay $1 annual subscription
New and unverifed accounts on Elon Musk’s social networking platform, X, will now be required to pay the sum of $1 sign up fee as annual subscription.
Cardoso Woos Investors, Pledges To Tackle FX Scarcity
The Central Bank of Nigeria (CBN) Governor, Dr Yemi Cardoso, has assured local and foreign investors of a conducive operating environment, saying everything possible would be done to make them comfortable.
CBN Denies Issuing New Policy Actions On Forex
The Central Bank of Nigeria has denied rumour making the rounds over new policy actions in the foreign exchange market.
Hardship: Nigerian Breweries Announces Beer Price Hike
Amid the hardship caused by fuel subsidy removal, the Nigerian Breweries announced that it would hike the price of alcoholic drinks, popularly known as beer.
CBN Lifts Restriction On $10k Deposit On Domiciliary Account
The Central Bank of Nigeria (CBN) has announced that cash deposits into domiciliary accounts will no longer be restricted, and customers ‘shall have unfettered and unrestricted access to funds in their accounts’.
Nigeria’s Inflation Increases To 22.22 Percent
Nigeria’s April inflation figure increased to 22.22 per cent from 22.04 per cent last month.
China’s Economy Grows By 4.5 Percent, Exceeds Expectations
The Chinese economy grew by 4.5 percent year-on-year in the first quarter of 2023, indicating that the world’s second-largest economy is now firmly on the path to recovery after the end of Beijing’s strict ‘zero-COVID’ policies.