Business

CBN Raises Interest Rate To Record 24.75%

<p>Following Tuesday's MPC meeting, the CBN has raised MPR to 24.75% and retained CRR at 45%</p> <p>The post <a rel="nofollow" href="https://www.arise.tv/cbn-raises-interest-rate-to-record-24-75/">CBN Raises Interest Rate To Record 24.75%</a> appeared first on <a rel="nofollow" href="https://www.arise.tv">Arise News</a>.</p>

mingooland
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In a bid to curb soaring inflation rates, the Central Bank Monetary Policy Committee has taken decisive action by increasing its key monetary policy rate by 200 basis points (bps) to a new record high of 24.75%. 

In its latest announcement, the committee opted to retain the cash reserve ratio at 45% and maintain the liquidity ratio at 30%. 

Details to come later

The post CBN Raises Interest Rate To Record 24.75% appeared first on Arise News.

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Tinubu Inherited Worst Economic Challenge – Karimi

<p><img width="1000" height="600" src="https://www.naijanews.com/wp-content/uploads/2024/01/bola-tinubu-1000x600.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="List Of Govt Agencies To Be Merged, Scrapped As President Tinubu Implements Oronsaye Report" decoding="async" srcset="https://www.naijanews.com/wp-content/uploads/2024/01/bola-tinubu-1000x600.jpg 1000w, https://www.naijanews.com/wp-content/uploads/2024/01/bola-tinubu-590x354.jpg 590w, https://www.naijanews.com/wp-content/uploads/2024/01/bola-tinubu-400x240.jpg 400w" sizes="(max-width: 1000px) 100vw, 1000px" /></p> <h2>The Senator representing Kogi West District, Sunday Karimi, has said President Bola Tinubu inherited a worse economy from his predecessor.</h2> <p>The Kogi West Senator said the President has been managing the worst economic challenges since the beginning of the Fourth Republic.</p> <p>He stated this at the maiden edition of Igbaruku Day held in Igbaruku-Okeri, Yagba West Local Council in Kogi State, at the weekend.</p> <p>Karimi said that the Tinubu-led administration has shown commitment towards rebuilding the economy and transforming it into a strong and self-sufficient one.</p> <p>The lawmaker said that the process of achieving economic recovery should be seen as a collective effort by the government and the people.</p> <p>He, therefore, charged the citizens to be patriotic and committed to the development of their communities and the nation.</p> <p>Karimi stated that when the citizens play their part, the economic challenges being faced by the current administration will be reasonably addressed within the short term.</p> <p>He said, <em>“The government of Tinubu inherited a bad, in fact, the worst, situation so far. Tinubu met the average Gross Domestic Product (GDP) growth rate of 1.8 per cent. In terms of the inflation rate, the four-year average preceding the administration of Tinubu was 15.1 per cent. But the Tinubu government is not resting on its oars. They are working tirelessly every day to find solutions to the problems.”</em></p> <p>The post <a href="https://www.naijanews.com/2024/04/02/tinubu-inherited-worst-economic-challenge-karimi/">Tinubu Inherited Worst Economic Challenge – Karimi</a> appeared first on <a href="https://www.naijanews.com">Naija News</a>.</p>

mingooland · · 2 min read