The Central Bank of Nigeria (CBN) monetary policy committee has raised interest rate by 50 basis points from 26.25% to 26.75%.
The Governor of the CBN, Mr. Olayemi Cardoso announced this at the end of the 296th Monetary Policy Committee meeting held in Abuja.
The MPC also retained the Cash Reserve Ratio (CRR) for Deposit Money Banks at 45% while that of merchant banks was put at 14%.
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A total of 30,281 units valued at N30.936 million were traded this week in 19 deals compared with a total of 189,346 units valued at N187.047 million transacted last week in 28 deals. Source: NGX and Fundvine Research
The Central Bank of Nigeria (CBN) in an effort to address efficient and optimal circulation of currency circulation in the economy has directed Deposit Money Banks to ensure availability of cash to customers Over-the-Counter and through ATMs. The apex bank said it will intensify its oversight roles to enforce this new directive and ensure compliance. Members of[…]
