Breaking: CBN Raises MPR to 17.5% *Insists January 31 deadline for return of old naira notes stands James Emejo in Abuja The Central Bank of Nigeria (CBN) Tuesday raised the Monetary
The Central Bank of Nigeria Tuesday raised the Monetary Policy Rate by 100 basis points to 17.5 per cent from 16.5 per cent.
Addressing journalists at the end of the Monetary Policy Committee meeting in Abuja, CBN Governor, Mr. Godwin Emefiele, also said the January 31, 2023 deadline for the return of the old naira notes following the currency redesign programme remained sacrosanct and would not be shifted. Emefiele, also clarified that contrary to the allegations of missing N89 trillion in stamp duty collections against the CBN, records show that only N370.68 billion had been collected by banks between 2016 till date.
However, the CBN governor said the decision to further tighten monetary policy was taken to reign in inflation.Founded on January 22, 1995, THISDAY is published by THISDAY NEWSPAPERS LTD., 35 Creek Road Apapa, Lagos, Nigeria with offices in 36 states of Nigeria , the Federal Capital Territory and around the world.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BREAKING: CBN raises interest rate to 17.5% | TheCableThe policy-setting committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which measures interest rate, from 16.5 percent to 17.5 percent to tame rising
Read more »
BREAKING: CBN raises interest rate to 17.5%The Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the benchmark interest rate by 100 basis points to 17.5 per cent.
Read more »
BREAKING: Redesigned Notes: Senate directs CBN to extend mop up by 6 monthsThe Nigerian Senate, Tuesday urged the Central Bank of Nigeria, CBN to extend the mop-up of old Naira notes to 31st July 2023. The upper legislative
Read more »
BREAKING: CBN increases benchmark interest rate to 17.5%The CBN's MPC also voted to keep the asymmetric corridor at +100 and -700 basis points around the MPR
Read more »
CBN sensitises Kaduna traders to new naira notesThe Central Bank of Nigeria has taken its new naira notes sensitisation to the Abubakar Mahmud Gumi Market, Kaduna State with an appeal to traders to ensure that their old notes are deposited at the commercial banks.
Read more »
JUST IN: Deadline remains Jan 31 for old naira notes —CBNThe Central Bank of Nigeria has insisted that there is no going back on the January 31 deadline for the old 200, 500 and 1,000 naira notes, as they will cease to be legal tender in the country.
Read more »