CBN raises Interest Rate to 26.25% amid rising Inflation levels

CBN raises Interest Rate to 26.25% amid rising Inflation levels

The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate for the third straight time by 150 basis points from 24.75 per cent to 26. 25 per cent.  The CBN Governor Yemi Cardoso who is also the Monetary Policy Committee (MPC) chairman said the committee at its 295th meeting retained the Cash Reserve […]

CBN to withdraw ambiguous 0.5 per cent cybersecurity levy

Members of the House of Representatives have asked the Central Bank of Nigeria (CBN) to withdraw the circular directing financial institutions to commence implementation of the 0.5 per cent cybersecurity levy According to the Green House, the CBN is to withdraw the initial circular, describing it as “ambiguous”, and “issue a more understandable one”. Honourable […]

TUC Threatens Nationwide Shutdown over Cybersecurity Levy

The Trade Union Congress (TUC) has threatened to shut down Nigeria’s economy if the Federal Government fails to reverse the cybersecurity levy introduced by the Central Bank of Nigeria. Reacting to the directive from the CBN to commercial banks and other financial institutions, the congress in a statement today signed by its president, Festus Osifo, […]

BREAKING: Port Harcourt residents protest rejection of Old Naira Notes

Residents of Port Harcourt particularly plying Choba-NTA road are currently protesting the refusal of naira notes by commercial drivers at Ozuoba junction. Road users commuting to work via commercial vehicles are stranded as a result of the protest ongoing at Ozuoba junction. This is coming hours after CBN released a guideline stating how to submit […]

Banks will accept old notes after deadline – Emefiele

Commercial banks in Nigeria will still accept old naira notes from customers after the February 10 deadline, the governor of the Central Bank of Nigeria, Godwin Emefiele, told the House of Representatives on Tuesday. Emefiele stated this while appearing before the ad hoc committee set up by the House on the CBN naira redesign policy, […]

Buhari unveils new naira notes at Aso Rock

The President, Major General Muhammadu Buhari (retd.), on Wednesday morning unveiled the redesigned naira notes across the N200, N500 and N1,000 denominations. Buhari unveiled the notes at the Council Chambers of the State House shortly before the kickoff of this week’s Federal Executive Council meeting. Fielding questions from correspondents after the event, the Governor of […]