• About Us
  • Terms & Conditions
  • Contact Us
Sunday, May 28, 2023
Investogist
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Full Text of President Buhari’s Farewell Address to the Nation

    Full Text of President Buhari’s Farewell Address to the Nation

    Full Text: Tribunal releases Atiku’s pre-hearing report

    Full Text: Tribunal releases Atiku’s pre-hearing report

    EFCC seeks transfer of Orji Uzor Kalu’s trial to Lagos

    EFCC Arraigns Titilayo Eboh for N2bn Investment Scam

    I didn’t know anything about Education Sector when Buhari appointed me – Minister of Education, Adamu

    I didn’t know anything about Education Sector when Buhari appointed me – Minister of Education, Adamu

    Tinubu reacts to agitations about Muslim-Muslim ticket

    Supreme Court to rule on PDP’s case to disqualify Tinubu, Shettima today

    Full Text: Tribunal releases Obi’s pre-hearing report

    Full Text: Tribunal releases Obi’s pre-hearing report

    FG approves NIN-Debit card merger, orders banks to issue NIN cards

    FG approves NIN-Debit card merger, orders banks to issue NIN cards

    Trump congratulates Nigeria for Banning Twitter, says more countries should do same

    Donald Trump’s bizarre ‘red button’ comments on DeSantis’ 2024 anouncement

    Putin is on our kill list – Deputy Chief of Ukraine’s Intelligence agency

    Putin is on our kill list – Deputy Chief of Ukraine’s Intelligence agency

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    BREAKING: CBN raises interest rate to 18.5% amid rising inflation

    JUST IN: Nigeria’s inflation rate hits 19.64% – highest since 2005.

    Inflation rate hits 22.22% in April, highest in 14 years

    Telcos kick as FG plan 12.5% call tax

    FG re-introduces 5% excise duty on telecom services in new fiscal policy

    Headline Inflation in Nigeria rose to 22.04% in March

    Headline Inflation in Nigeria rose to 22.04% in March

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rose to N46.25 trillion in 2022, 84.73% of bilateral debt owed to China

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    CBN raises interest rate for the 6th consecutive time

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    FY 2020: Unilever Nigeria Plc remains in loss despite revenue growth

    The NGX- ASI increased by 0.48% as Unilever gained 9.70%

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI increased by 0.35% despite negative market sentiment

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI Gained 0.31% as NB rose another 9.63%

    FY 2020: Nigerian Breweries Plc reports 54.3% decline in profit

    The NGX- ASI Increased By 0.36% as NB rises 9.97%

    Delisting of Access Bank Plc and listing of Access Holdings Plc

    The NGX- ASI declined by 0.09% as ACCESSCORP falls 3.32%,

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2023, qualification and payment dates

    Femi Otedola sales N820.67mn worth of Geregu Power Plc Shares

    Femi Otedola sales N820.67mn worth of Geregu Power Plc Shares

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX ASI Closed Negative By 0.75% as BUA Cement loses 8.02%

    Delisting of Access Bank Plc and listing of Access Holdings Plc

    The NGX- ASI Increased By 0.22% as Access Holdings emerged highest traded by volume and value

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Seplat says ‘no official notification’ on Buhari’s reversal of approval for ExxonMobil deal

    Seplat extends, revises Mobil Producing Nigeria purchase deal

    Zenith Bank’s Board of Directors approve payment of final dividend for 2022

    Zenith Bank Directors acquired 17.78mn shares of the bank

    Caverton posts N566.05mn profit for Q1 2023

    Caverton posts N566.05mn profit for Q1 2023

    Seplat Energy announces US3 cents interim dividend for Q1 2023

    Seplat Energy announces US3 cents interim dividend for Q1 2023

    Tengen Holdings acquires 220mn shares of Access Holdings Plc

    Tengen Holdings acquires 220mn shares of Access Holdings Plc

    Tony Elumelu’s HH Capital Limited acquires millions of UBA shares

    Tony Elumelu’s HH Capital Limited acquires millions of UBA shares

    Acquisition: Court orders a meeting of Union Bank Plc shareholders

    Acquisition: Court orders a meeting of Union Bank Plc shareholders

    Court has mandated us to hold AGM as scheduled – Seplat Energy

    Resolutions passed at Seplat Energy’s 10th Annual General Meeting

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Full Text of President Buhari’s Farewell Address to the Nation

    Full Text of President Buhari’s Farewell Address to the Nation

    Full Text: Tribunal releases Atiku’s pre-hearing report

    Full Text: Tribunal releases Atiku’s pre-hearing report

    EFCC seeks transfer of Orji Uzor Kalu’s trial to Lagos

    EFCC Arraigns Titilayo Eboh for N2bn Investment Scam

    I didn’t know anything about Education Sector when Buhari appointed me – Minister of Education, Adamu

    I didn’t know anything about Education Sector when Buhari appointed me – Minister of Education, Adamu

    Tinubu reacts to agitations about Muslim-Muslim ticket

    Supreme Court to rule on PDP’s case to disqualify Tinubu, Shettima today

    Full Text: Tribunal releases Obi’s pre-hearing report

    Full Text: Tribunal releases Obi’s pre-hearing report

    FG approves NIN-Debit card merger, orders banks to issue NIN cards

    FG approves NIN-Debit card merger, orders banks to issue NIN cards

    Trump congratulates Nigeria for Banning Twitter, says more countries should do same

    Donald Trump’s bizarre ‘red button’ comments on DeSantis’ 2024 anouncement

    Putin is on our kill list – Deputy Chief of Ukraine’s Intelligence agency

    Putin is on our kill list – Deputy Chief of Ukraine’s Intelligence agency

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    BREAKING: CBN raises interest rate to 18.5% amid rising inflation

    JUST IN: Nigeria’s inflation rate hits 19.64% – highest since 2005.

    Inflation rate hits 22.22% in April, highest in 14 years

    Telcos kick as FG plan 12.5% call tax

    FG re-introduces 5% excise duty on telecom services in new fiscal policy

    Headline Inflation in Nigeria rose to 22.04% in March

    Headline Inflation in Nigeria rose to 22.04% in March

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rose to N46.25 trillion in 2022, 84.73% of bilateral debt owed to China

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    CBN raises interest rate for the 6th consecutive time

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    FY 2020: Unilever Nigeria Plc remains in loss despite revenue growth

    The NGX- ASI increased by 0.48% as Unilever gained 9.70%

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI increased by 0.35% despite negative market sentiment

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI Gained 0.31% as NB rose another 9.63%

    FY 2020: Nigerian Breweries Plc reports 54.3% decline in profit

    The NGX- ASI Increased By 0.36% as NB rises 9.97%

    Delisting of Access Bank Plc and listing of Access Holdings Plc

    The NGX- ASI declined by 0.09% as ACCESSCORP falls 3.32%,

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2023, qualification and payment dates

    Femi Otedola sales N820.67mn worth of Geregu Power Plc Shares

    Femi Otedola sales N820.67mn worth of Geregu Power Plc Shares

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX ASI Closed Negative By 0.75% as BUA Cement loses 8.02%

    Delisting of Access Bank Plc and listing of Access Holdings Plc

    The NGX- ASI Increased By 0.22% as Access Holdings emerged highest traded by volume and value

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Seplat says ‘no official notification’ on Buhari’s reversal of approval for ExxonMobil deal

    Seplat extends, revises Mobil Producing Nigeria purchase deal

    Zenith Bank’s Board of Directors approve payment of final dividend for 2022

    Zenith Bank Directors acquired 17.78mn shares of the bank

    Caverton posts N566.05mn profit for Q1 2023

    Caverton posts N566.05mn profit for Q1 2023

    Seplat Energy announces US3 cents interim dividend for Q1 2023

    Seplat Energy announces US3 cents interim dividend for Q1 2023

    Tengen Holdings acquires 220mn shares of Access Holdings Plc

    Tengen Holdings acquires 220mn shares of Access Holdings Plc

    Tony Elumelu’s HH Capital Limited acquires millions of UBA shares

    Tony Elumelu’s HH Capital Limited acquires millions of UBA shares

    Acquisition: Court orders a meeting of Union Bank Plc shareholders

    Acquisition: Court orders a meeting of Union Bank Plc shareholders

    Court has mandated us to hold AGM as scheduled – Seplat Energy

    Resolutions passed at Seplat Energy’s 10th Annual General Meeting

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home Economy

JUST IN: CBN raises interest rate to 16.5% to tame inflation

Tuesday, 22 November 2022, 4:25 pm
in Economy, Policies
0
Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto
Share Share Share Share Send as Email

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has voted to increase Monetary Policy rate (MPR), the benchmark interest rate by 100 basis points to 16.5% from 15.5 per cent. This is the highest level since 2001.

The Governor of CBN, Godwin Emefiele, disclosed this while reading the communique of the MPC meeting held on Tuesday, 22nd November 2022. This is the last meeting of year.

He said that nine members of the team voted to raise the key rate by 100 basis points, while two members voted to increase the rate by 50 basis points.

He said it was agreed that it was necessary to push the anchor interest rate to 16.5 per cent to tame the rising inflation, which increased by 21.09 per cent in October 2022, according to data released by the National Bureau of Statistics (NBS).

Highlights of the Committee’s decision

  • Increase MPR by 100 basis points to 16.5%
  • The asymmetric corridor of +100/-700 basis points around the MPR was retained
  • CRR was retained at 32.5%
  • While the Liquidity Ratio was also kept at 30%

Investogist recalls that the apex bank had increased the MPR from 11.5% earlier this year to 15.5% across three consecutive rate hikes.

In October 2022, Nigeria’s inflation rate rose to 21.09% from 20.77% recorded in September, despite the rate hikes by the CBN.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

Related Posts:

  • BREAKING: CBN raises interest rate to 18.5% amid rising inflation
    BREAKING: CBN raises interest rate to 18.5% amid rising…
  • Just in: CBN raises interest rate to 14%
    Just in: CBN raises interest rate to 14%
  • CBN raises interest rate for the 6th consecutive time
    CBN raises interest rate for the 6th consecutive time
  • Inflation rose by 17.93% in May, lower than the rate in April
    Inflation rose by 17.93% in May, lower than the rate in…
Previous Post

Why Nigeria still maintains COVID-19 travel protocols – FG

Next Post

Buhari inaugurates 1bn barrel Kolmani oil reserves in N/East

Next Post
Buhari inaugurates 1bn barrel Kolmani oil reserves in N/East

Buhari inaugurates 1bn barrel Kolmani oil reserves in N/East

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2023, qualification and payment dates

Full Text of President Buhari’s Farewell Address to the Nation

Full Text of President Buhari’s Farewell Address to the Nation

Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

Borussia Dortmund’s final day failure allows Bayern Munich win 11th straight title

Borussia Dortmund’s final day failure allows Bayern Munich win 11th straight title

Full Text of President Buhari’s Farewell Address to the Nation

Full Text of President Buhari’s Farewell Address to the Nation

Chelsea seal fourth successive WSL title as Manchester United play second fiddle

Chelsea seal fourth successive WSL title as Manchester United play second fiddle

Borussia Dortmund’s final day failure allows Bayern Munich win 11th straight title

Borussia Dortmund’s final day failure allows Bayern Munich win 11th straight title

Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

Investogist
info@investogist.com

Follow us

Categories

  • Africa
  • Agriculture
  • Arts & Culture
  • Budgets
  • Business
  • Columnists
  • Commodities
  • Companies
  • Cryptocurrencies
  • Economic Data
  • Economy
  • Editorials
  • Financial Education
  • Football
  • Forex
  • Industry
  • Investogist Business Saturday
  • Job Opportunities
  • Markets
  • Nature
  • News
  • Nigeria
  • Op-ed
  • Opinion & Analysis
  • Places & People
  • Policies
  • Rates & Bonds
  • Sports
  • Stocks/Equities
  • Technology
  • Travel & Tours
  • Vacancies
  • World

Quick Links

  • News
  • Economy
  • Markets
  • Business
  • Opinion & Analysis
  • Travel & Tours

Newsletter

Copyright © 2023 investogist.com, All Rights Reserved

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies

Copyright © 2023 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist