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Tag: Interest rate

Finance

NFEM turnover falls to $2.25bn as CBN cuts interest rate to 23%

Turnover on the Nigerian Foreign Exchange Market declined by 17.7 per cent week-on-week to $2.25 billion in the week ended September 25, 2026, marking the second consecutive week of decline for the market. Data from the Central Bank of Nigeria showed that turnover dropped from $2.74 billion recorded in the previous trading week, even as […]

Finance

Private sector welcomes CBN’s modest interest rate cut

The Monetary Policy Committee of the Central Bank of Nigeria has reduced the benchmark interest rate to 26.5 per cent, of which, members of the Organised Private Sector have described the move as minimal but a positive signal for businesses and the broader economy. At the end of its 304th meeting in Abuja, the MPC […]

Economy

Egypt cuts interest rate again as inflation pressures eases

Egypt’s central bank on Thursday reduced its benchmark deposit rate by 100 basis points to 20 per cent, marking the fifth interest-rate cut carried out by the monetary authority this year. The latest reduction highlights growing confidence among policymakers that inflationary pressures are easing after an extended period of tight monetary policy aimed at stabilising […]

Nigeria's inflation will fall to 21% in 2024 - Cardoso
Economy featured

High interest rates trigger 17% fall in consumer credit

Consumer credit in Nigeria recorded a significant decline, dropping by 17 per cent month-on-month to N3.54 trillion in July 2025, down from N4.27 trillion recorded in June 2025. This sharp fall was primarily triggered by a decline in retail demand. The breakdown, detailed in the Central Bank of Nigeria’s July 2025 Economic Report, showed that […]

Equity investors lose N1.5tn as bond yield rises
featured Finance

High interest rates drive pension fund investments to N2.4trn

Investments in fixed income securities by Pension Fund Administrators saw a notable increase, rising by 17.7% Year-on-Year over the eight months ending in August 2025. This surge pushed the total investment value to N2.405 trillion from the N2.043 trillion recorded during the corresponding period in 2024. This significant growth was disclosed in the latest pension […]

Diaspora Nigerians to pay ₦80,000 for remote BVN
Economy

Cardoso hints at lower interest rates as inflation eases

The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, has hinted that lending rates may decline in the coming months as inflation continues to ease, raising hopes for improved access to credit and stronger investment flows. Cardoso gave the assurance during a fireside chat at the European Business Chamber (Eurocham Nigeria) C-Level Forum […]

News

How CBN raised interest rate from 11.5% to 17.5% in eight months

  The Central Bank of Nigeria has raised its benchmark interest rate five times since May 2022. The bank had retained its 11.5 percent interest rate for six years before the consecutive increases that happened from May 2022 to January 2023. During this period, the Monetary Policy Rate was raised from 11.5 percent benchmark to […]

News

What every Nigerian should know about the interest rate

Oluwanifemi Ojo   Interest rate is a measure of the amount paid on a borrowed money or the amount received for saving money. This means, if an amount of money is borrowed, the individual/entity is required to pay a percentage of the money within a specified period, based on the agreed term. Similarly, if an […]

Monarchs begs CBN to extend old naira deadline
Economy

CBN raises interest rate to 17.5%

  The Central Bank of Nigeria has raised the Monetary Policy Rate, which measures the interest rate to 17.5 per cent. The CBN Governor, Godwin Emefiele, announced this after the apex bank’s Monetary Policy Committee meeting in Abuja on Tuesday. Channels reported that the MPC raised the monetary policy rate by 100 basis point to […]

Monarchs begs CBN to extend old naira deadline
Economy

MPC meets over interest rate hike

  The Monetary Policy Committee meeting of the Central Bank of Nigeria is expected to meet on Monday to proffer solutions to the recent rise in interest rates. According to The PUNCH, the meeting is expected to hold between the 28th to 29th in Abuja. Cordros Securities analysts expect a rate hike after the meeting, […]

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