February 27, 2024
Just In: NLC Suspends Protest, Extends Ultimatum To FG
The Nigeria Labour Congress (NLC), on Tuesday night, suspended its two-day protest all over the country. The Labour, in a communique at the end of its National Executive Council meeting, said the objectives of the protest were achieved on the first day of the demonstration. “Consequently, NEC-in-session resolved as follows: to suspend street action for […]
CBN directs BDCs to buy forex at N1,301 per dollar, sell at 1% profit
The Central Bank of Nigeria has announced plans to sell forex to bureau de change operators at N1,301 per dollar. The decision, which aimed to enable the sale of foreign exchange to BDC operators to meet the retail demand for eligible invisible transactions, was contained in a statement signed by Hassan Mahmud, a director at […]
CBN raises interest rate by 400 basis points to 22.75% to tackle inflation
On Tuesday, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) increased the Monetary Policy Rate (MPR) by 400 basis points to 22.75 per cent from 18.75 per cent. CBN governor Yemi Cardoso, who chairs the MPC, announced the committee’s decisions on Tuesday after the meeting. Mr Cardoso said the asymmetric corridor […]