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, …