ABUJA, May 24 (Xinhua) -- Nigeria's apex bank on Tuesday raised the Monetary Policy Rate, the benchmark interest rate, to 13 percent -- the first hike in more than two years. The Central Bank of Nigeria (CBN) raised the interest rate by 150 basis points to combat rising inflation in...
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This study examined the effect of interest rate and savings on industrial productivity in Nigeria. The Ordinary Least Square OLS multiple regression analysis was applied on data from Central Bank of Nigeria (CBN) Statistical Bulletin in a model where industrial sector output ...
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s discontinuation but have not defined how the LIBOR transition should take place within each financial institution. At FirstBank, we would make the necessary operational, legal and risk management changes and implement the most appropriate alternative benchmark rate(s) that would best suit our ...
Jacobs called on the Central Bank of Nigeria to reduce the interest rates in its next monetary policy meeting to ensure growth in the manufacturing sector. With appropriate incentives, the manufacturing sector could cause an economic turnaround for the country, he added. ...
The Central Bank of Nigeria (CBN) took immediate steps, rolling out a stimulus package to combat the effects of the pandemic on critical sectors including cutting the interest rate on its intervention facilities from 9 to 5 percent.1 But banking in Nigeria faces a challenging road ahe...
IMF commends government, central bank efforts Mission staff noted recent improvements in government revenue collection and oil production as "encouraging," along with the Central Bank of Nigeria's recent decision to hike interest rates by 400 basis points to 22.75%, in a bid to contain ...
Transactions in the inter-bank funds market provide signal of what obtains in the open credit market. To provide for stability in short-term interest rates, the Monetary Policy Rate (MPR) as the "operating instrument" serves as an indicative rate for transactions in the inter-bank money market...
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