Business
Analysts Forecast 50 Basis-Point Rate Hike Amid Surging Inflation
Nigeria’s MPC begins its final 2024 meeting with analysts predicting a 25-50 bps hike in the Monetary Policy Rate to tackle rising inflation
25 November 2024
CBN
Business
Nigerian Banks Offer 8.18% Interest Rate on Savings Accounts Following CBN Policy Adjustment
Central Bank of Nigeria’s (CBN) monetary policy adjustment to 27.25%, 19 Nigerian banks now offer an 8.18% savings account interest rate.
21 November 2024
Business
Naira Plunges to N1750/$ at Black Market Despite Official Market Gains
Naira weakens to N1750/$ at the black market amid dollar demand pressure, while official markets see a slight recovery to N678.6/$
20 November 2024
Business
Nigeria’s Inflation Expected to Rise to 33.29% in October Amid Currency Pressures
NBS is set to release Nigeria’s October inflation data, with projections indicating a rise to 33.29% as Exchange rate fluctuations continues
12 November 2024
Business
Fitch Predicts Rise in Non-Performing Loans Amid Nigeria’s Inflation
Fitch predicts non-performing loans to further rise in Nigeria, driven by incessant inflation coupled with high interest rate.
5 November 2024
Breaking News
CBN Confirms Old Naira Notes Will Remain Valid Indefinitely
CBN reassures the public that old N200, N500, and N1,000 naira notes will remain legal tender indefinitely contrary to claims of expiration by December 31, 2024.
25 October 2024
Business
Nigeria’s Fiscal Deficit Widens as Debt Service Strains Revenue Gains
Nigeria’s fiscal deficit reaches N4.3trn in Q2 2024, driven by surging debt service costs and recurrent expenditures, despite increased revenue from exchange rate gains and improved tax efficiency.
24 October 2024
Business
New bills seeks to tax betting and gaming services
Nigerian Government aims towards greater revenue generation by targeting gaming and betting services with taxes.
21 October 2024
Business
Survey Reveals Nigerians’ Frustrations with High Interest Rates
CBN Inflation Expectations Survey reveals that 71.5% of Nigerians are calling for lower interest rates amid economic hardship
15 October 2024
Business
CBN Reaffirms Commitment to Financial Stability and Secure Deposits
The Central Bank of Nigeria (CBN) reassures Nigerians of the stability and security of financial system, ensuring all bank deposits are safe
11 October 2024
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