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.
VIDEO: Tinubu Travels to Saudi Arabia for Umrah, Presidency Announces Return Window
Tinubu travels to Saudi Arabia to perform Umrah and pray for Nigeria’s peace and progress, with the Presidency saying he...
Taraba Attack: Senate Demands Security Camps as Binnari Residents Face Displacement
The Taraba attack has prompted the Senate to demand additional security camps across three states’ border communities, alongside urgent relief...
Tinubu’s Saudi Trip: President Departs as Atiku’s Aide Demands Clear Return Date
Tinubu’s Saudi trip has drawn a fresh call for transparency, with Atiku Abubakar’s aide demanding a definite return date as...
LAUTECH Strike: ASUU Orders Suspension of Lectures, Exams Over Unpaid Entitlements
The LAUTECH strike has begun after a 14-day ultimatum expired, with ASUU directing members to suspend lectures and examinations over...
Google Wallet Launches in Nigeria: Supported Banks and How Tap-to-Pay Works
Google Wallet has launched in Nigeria, allowing eligible customers of FirstBank, GTBank, UBA and Zenith Bank to make payments using...
Airport Biosecurity: FG Approves Disease Detection Upgrade at Five Major Airports
The Federal Government has approved an airport biosecurity upgrade covering Lagos, Abuja, Kano, Port Harcourt and Enugu to strengthen early...
Ebola Outbreak: Africa CDC Urges United Response as Congo Cases Pass 10,000
The Ebola outbreak has pushed confirmed cases in DR Congo above 10,000, as Africa CDC calls for stronger cross-border coordination...
Liverpool vs Chelsea: Reds Survive Penalty Drama as Fofana Miss Sends Blues Out
Liverpool vs Chelsea ended in a dramatic 6–5 penalty shootout victory for the Reds after a 1–1 draw, securing Liverpool’s...
BREAKING: Delta Signs 13th-Month Salary Into Law for Eligible Public Servants
Delta Governor Sheriff Oborevwori has signed the 13th-month salary into law for eligible public servants, giving legal backing to the...
BREAKING: ₦70,000 Transport Allowance: TUC Rejects Six-Month Relief, Makes Fresh Demands
The Trade Union Congress has rejected the Federal Government’s ₦70,000 transport allowance, demanding a permanent salary increase to address workers’...