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Tag: MPR

Analysts fear new interest rate may increase non-performing loans
Business

Analysts fear new interest rate may increase non-performing loans

By Melvin Onwubuke   There are concerns by some financial experts, regarding the aggressive monetary policy stance adopted by the Central Bank of Nigeria, which recently led to another increase in the interest rate by 22.75%. These experts pointed out the potential domino effects of the heightened MPR on existing bank loans, according to nairametrics. […]

Nigeria needs more stringent measures to secure macroeconomic stability - Fitch
Economy

Nigeria needs more stringent measures to secure macroeconomic stability – Fitch

By Melvin Onwubuke Fitch Ratings Inc. has highlighted the need for Nigeria to adopt more rigid monetary tightening measures to secure macroeconomic stability. The credit rating and research firm pointed out that the Nigerian authorities had taken a crucial step towards reducing inflation by significantly adjusting the MRP to 22.75%, which was aimed at fostering […]

Banks increase lending rates after CBN’s MPR hike
News

Banks increase lending rates after CBN’s MPR hike

By Melvin Onwubuke   Following the Central Bank of Nigeria’s record increase in monetary policy rate, Nigerian banks began to raise their lending rates, and businesses and individuals, who have already got credit facilities with them are going to be paying more for these loans. Zenith Bank, the country’s largest bank by market capitalization, raised […]

United Capital endorses CBN's stakeholder partnership
Banking

CBN raises interest rate to 18.5%

The Central Bank of Nigeria has announced its increase of the Monetary Policy Rate from 18% to 18.5%. Channels TV reported the governor of CBN made this announcement on Wednesday after the policy-making committee had a meeting at the CBN headquarters in Abuja. As a result of this development, the apex bank will be increasing […]