The Nigerian stock market experienced a rebound on Wednesday, registering a 0.32% gain, buoyed by a surge in buying interest in top-tier bank shares. The market capitalisation, which opened at N58.775 trillion, saw an increase of N188 billion to close at N58.963 trillion. The All-Share Index similarly rose by 331.2 points, ending the day at Read More…
The Nigerian Naira saw a notable appreciation against the US dollar, closing at N1,300 per dollar, a 5.97% increase at the official market by Wednesday’s end. This marked improvement from Tuesday’s rate of N1,383 per dollar is a reflection of the Central Bank of Nigeria’s (CBN) recent monetary policy actions. The trading session witnessed a Read More…
In a decisive move to address the economic challenges facing Nigeria, the Central Bank of Nigeria’s Monetary Policy Committee (MPC) has increased the Monetary Policy Rate (MPR) by 200 basis points, setting it at 24.75% from the previous 22.75%. The MPR, a critical financial tool, influences the rate at which banks lend to each other Read More…
MPR is now 15.5% The Monetary Policy Rate (MPR) has been raised from 14 per cent to 15.5 per cent on Tuesday in a bid by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to stem increasing inflation. The committee had increased the MPR by a total of 250 basis points Read More…
The Central Bank of Nigeria (CBN) on Monday announced reduction of the Monetary Policy Rate (MPR) from 12.5 per cent to 11.5 per cent. Mr Godwin Emefiele, the CBN Governor made the announcement while presenting the communiqué the 275th Monetary Policy Committee (MPC) meeting on Tuesday. Emefiele said that the decision to reduce the MPR was Read More…
