The Monetary Policy Committee (MPC) of the Central Bank of Nigeria is projected to maintain its inflation-tightening stance at its last meeting of the year in the face of rising inflation. At its September meeting, the Committee raised the Monetary Policy Rate by 50bps to 27.25 per cent, emphasising concerns over core inflation, money supply growth, fiscal deficits, and food …

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has moderately hiked monetary policy rates to 18.75 per cent, acting Governor, Mr. Folashodun Shonubi said on Tuesday at the press briefing at the end of the 292nd MPC meeting. In its last MPC meeting, CBN tightened the economy by raising the interest rate to 18.5 per cent. “The …

Commercial banks’ customers deposited N8.9 trillion new cash in banks’ vaults in the last one year, members of the Central Bank of Nigeria (CBN)-led Monetary Policy Committee (MPC) have said. MPC member,  Prof. Festus Adenikinju, said the deposit base represents a 21.4 per cent increase to about N44 trillion in total industry deposits between April 2022 and April 2023. Likewise, …