Business
BREAKING: CBN Cuts Interest Rate to 26.5% in Latest Policy Move
The Central Bank of Nigeria has reduced the Monetary Policy Rate by 50 basis points to 26.5%.
- The Central Bank of Nigeria has reduced the Monetary Policy Rate by 50 basis points to 26.5% following a key Monetary Policy Committee meeting aimed at managing inflation and economic stability.
The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) by 50 basis points to 26.5% from 27%.
The decision was taken at the 304th meeting of the Monetary Policy Committee (MPC), where 11 members were in attendance.
DON’T MISS: BREAKING: CBN Allows BDCs Back into FX Market, Sets $150,000 Weekly Purchase Limit
The MPR, which serves as the benchmark interest rate, is a key tool used by the apex bank to manage inflation, liquidity and overall macroeconomic stability.
BREAKING: Presidency Breaks Silence on ₦2bn Ransom Payment to Boko Haram for Niger Schoolchildren Release
The Federal Government has dismissed reports alleging it paid a huge ransom and released militant commanders to secure the freedom...
BREAKING: CBN Cuts Interest Rate to 26.5% in Latest Policy Move
The Central Bank of Nigeria has reduced the Monetary Policy Rate by 50 basis points to 26.5%.
BREAKING: President Tinubu Sacks IGP Kayode Egbetokun, Names Successor
President Bola Tinubu has reportedly removed Inspector-General of Police (IGP) Kayode Egbetokun, with AIG Tunji Disu set to take over,...
[JUST IN]: US-Based Igbo Groups Hail Enugu Monarch For Confronting Tinubu, Demand Kanu’s Release (Full Details)
US-based Igbo advocacy groups have praised an Enugu monarch for openly confronting President Bola Tinubu.
Lagos Begins 5% Withholding Tax on Gaming Winnings
The Lagos State Government has commenced a 5% withholding tax deduction on gaming winnings.
Ogun Police to Arrest, Prosecute TikTok User Mirabel Over Alleged False Rape Claim
The Ogun State Police Command has concluded plans to arrest and prosecute a TikTok user, Mirabel, after she allegedly admitted...
AVID Condemns Killing of Ondo Monarch, Demands Kanu’s Release and Security Reforms
The American Veterans of Igbo Descent (AVID) has condemned the killing of Oba Kehinde Falodun in Ondo State.
Telcos Challenge Senate to Tell Nigerians the Truth, Insist Country Has Capacity for Real-Time Transmission
Telecom operators, including MTN, Airtel, Globacom and T2 Mobile, have rejected the Senate’s claims of inadequate infrastructure.
Drama at Fitness Centre as Man Arrests Gym Instructor for Impregnating His Daughter (Video)
Tension erupted at a fitness centre after a man arrived with police officers to arrest a gym instructor accused of...
IPOB Slams Tinubu’s Aide Over Kanu Conviction Comparison, Insists ‘Biafra Restoration Is Unstoppable’
The Indigenous People of Biafra has faulted comments credited to a presidential aide comparing Nnamdi Kanu’s terrorism conviction with Sunday...